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Recent Earned Income Credit questions

A person who is low income with a child files a federal

A person who is low income with a child files a federal return and usually gets a refund of around 3,000. Sharing custody with a doctor with a large income maybe 150,000. Am I right in my thinking that that tax benefit the doctor will see from attaching the child to her reteurn as a dependant will be far less than the benefit the low income disabled person will. I estimated that the doctor might see a reduction in her taxes of $100 or less. Whareas the low income person sees the refund. Is this sound thinkin?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: no

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,940 satisfied customers
I have Income from self employment that accumulated over the

I have Income from self employment that accumulated over the year that I want to report. I know the amount but I don't have records and receipts of who and were it came from. Can I report this as miscellaneous self employment income somewhere on tax form? I did earn the money doing numerous small services and I don't want to lose my earned income credit.

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Robin D.

Vocational, Technical or Trade School

22,410 satisfied customers
Can you tell me the tax credit per child? is it a set amount

can you tell me the tax credit per child? is it a set amount or are there other credits available. If my granddaughterfiles does she file as head of household?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,754 satisfied customers
Filing jointly or separate with my wife; 1. Do we have a

Filing jointly or separate with my wife;1. Do we have a choice?2. If so, what are the pros and cons of filing separate vs. jointly?3. If filing separately, can we file at different times?4. Can a separate filing for my wife now, be later changed to a joint filing?The reasons why I ask have to to with lack of clarity whether I should file in Canada or USA. Further elaboration of this reason can be provided if needed.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,754 satisfied customers
Need PDtax to help me with this question PDtax a child live

Need PDtax to help me with this questionHi PDtaxa child live with his Mather and she signed a 8332 to let the father to file him please find me oiy a way ho whe can claim EIC credit for him the Mather will not claim it

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Robin D.

Vocational, Technical or Trade School

22,410 satisfied customers
I am an independent contractor i am not expecting to recieve

Hi, i am an independent contractor i am not expecting to recieve the 1099 that i suppose to receive. In this case what should i do to file? Also if a person is an independent contractor can they receive a refund if they have a dependent?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,940 satisfied customers
Can we claim the EIC without claiming our son as dependent,

can we claim the EIC without claiming our son as dependent, I am tryin Hello: I am trying to figure out if my husband and I should claim our son with disabilities as a dependent on our tax return and be a family of three. The other scenario is that we could we let him file single (as a family of one} and we could file married filing jointly as a family of two. FACTS: Our son will receive w-2s for 2016 that total approximately $9,500. He is on a Connecticut work training program from State of Connecticut where the Department of Rehabilitation Services (DORS) pays $30,000 which reimburses his employer for his wages and pays for a work coach. The three of us live together in Section 8 housing which hasn't been counting my son's income when they calculate our rent. Access Health CT is not counting our son’s income and has us as a family of 3 with zero (0) income for our son. Our son qualified for Husky D Medicaid because he makes less than 10,000 as a single person. My Husband who is on Medicare qualifies for extra help from the State of CT and has secondary insurance from Medicaid. I am the only one who uses the market place and Access Health CT. TAX REFUND: If we claimed our son as a disabled dependent and/or took an Earned Income Credit for him, our MAGI might go up to approximately $35,000 but we might get a bigger refund of more than $2000. If we filed jointly our MAGI is only $26,500 and we would get no refund. Furthermore, If we claimed our son as a dependent on our tax return, he in turn would have to state that he was claimed on someone else’s tax return, making his refund less. INSURANCE PREMIUMS:: If we corrected Access Health CT’s concept that our household is composed of three and we filed instead as married filing jointly (2) and our son filed as a single person,(1) my health insurance premium would go up from 200 to over $300. However, I will only have to pay that for 6 months because I am eligible for Medicare/Medicaid in July of 2017. INSURANCE ELIGIBLILTY: Sacrificing the refund, if we split the family into filing jointly and my son filing single, my son could stay on Medicaid Husky D and my husband could stay on Medicare with extra help from Medicaid. Furthermore, I would be eligible in July for the same Medicare/Medicaid. QUESTION For the Tax professional: Can I just take the CHILD earned income credit without claiming him as a dependent and counting his income? QUESTION For the Lawyer: Do I have a choice? Must I report my son’s income to Access Health CT even though it is reimbursed through DORS?

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Anne

Master Tax Preparer

3,218 satisfied customers
I did not have a job in 2016, do i have to file my taxes,

i did not have a job in 2016, do i have to file my taxes, any tips?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: i had no income or job in 2016, how to file taxesJA: Is there anything else important you think the Accountant should know?Customer: no, maybe that i lost my job last job, and i am 4 months pregnant after 1 misscarriage, i dont know if that helps

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Robin D.

Vocational, Technical or Trade School

22,410 satisfied customers
A client is the non-cutodial parent of a minor aged 8. A

A client is the non-cutodial parent of a minor aged 8. A court order was issued and the monthly obligation of the client is split into 1. a basic payment and 2. child care. The client has agreed to alternate the dependency exemption with the former spouse. The question is whether the non-custodial parent can take a deduction for the money paid to an after-school program since technically he does not pay for it directly but rather remits the funds to the custodial parent whom then pays the facility directly. Thank you.

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Barbara

Enrolled Agent, Paralegal

5,986 satisfied customers
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