Nov 14, 2014 | Arizona Individual Tax Credits, Individual Income Tax Returns, Tax Credits
This tax credit is figured out on Schedule R (Form 1040 or 1040A). To qualify, you must be 65 years of age or older, be retired on permanent or total disability, and have taxable disability income. Your AGI must be less than $17,500 if you are filing as a single...
Nov 14, 2014 | Arizona Individual Tax Credits, Individual Income Tax Returns, Tax Credits
Most eligible taxpayers meet the Making Work Pay credit of $800 for married couples filing a joint return and $400 for everyone else. The credit is 6.2 percent of earned income up to $190,000 per annum AGI for joint filers and $95,000 for everyone else. The Government...
Nov 14, 2014 | Arizona Individual Tax Credits, Individual Income Tax Returns, Tax Credits
Depending on your income, the child tax credit can be worth up to $1,000 per qualifying child under the age of 17. There are various criteria you need to meet: The child has to be claimed as a dependent on your tax return.The child must be a U.S. citizen.The child...
Nov 14, 2014 | Deductions, Individual Deductions, Individual Income Tax Returns
The amount of the standard deduction you will receive depends on the filing status you qualify for. In 2014, single taxpayers who file separate returns can claim a standard deduction of $6,200; this amount also applies to married couples who file separately. If you...
Nov 13, 2014 | Deductions, Individual Deductions, Individual Income Tax Returns
Each year, taxpayers miss miscellaneous deductions on Schedule A. In order to qualify, your miscellaneous deductions must be more than two percent of your adjusted gross income, and even then, you only receive any amount above two percent. So if your AGI is $100,000 a...
