• 6550 Rock Spring Dr. # 530, Bethesda, MD 20817
  • 301-962-1700
  • mendoza@mendozaco.com

Blog - Tax Related

2018 Child & Dependent Tax Credits
08
Mar

2018 Child & Dependent Tax Credits

Written by Be the first to comment!

Increased to $2,000 in 2018

The child tax credit increases in 2018 to $2,000 (up from $1,000) with up to $1,400 being refundable. The earned income threshold is reduced to $2,500 (down from $3,000 in 2017) allowing more taxpayers to qualify for the credit. A child has to be under the age of 17 and have a valid Social Security number issued before the return due date to qualify for the credit.

In addition, a non-refundable tax credit of $500 is available for each non-child dependent that does not qualify for the child tax credit. The AGI thresholds at which the credit begins to phase out are substantially increased: to $400,000 for married filing jointly and $200,000 for all other taxpayers.

 

 

About Us

Mendoza, Silva & Company, Inc. is a full-service accounting and IRS problem-solving firm. As a client, you gain a sound team with expertise in multiple fields, providing you the right advice to strengthens your organization and long-term goals.

Mendoza, Silva & Company © All Rights Reserved 2019. Powered By mendozaco.com