Family Credit Archives - Cozby & Company

Employers Who Provide Leave Might Qualify to Claim Valuable Credit
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Employers Who Provide Leave Might Qualify to Claim Valuable Credit

Family Credit, IRS, Tax Credits, Tax Tips, Taxes

Employers Who Provide Leave Might Qualify to Claim Valuable Credit

Employers who provide paid family and medical leave to their employees might qualify for a credit that can reduce the taxes they owe. It's called the employer credit for family and medical leave. Here are some facts about the credit to help employers find out if they might be able to claim it. To be eligible, [...]

cozbycpa2019-12-04T17:10:01-05:00December 4th, 2019|Categories: Family Credit, IRS, Tax Credits, Tax Tips, Taxes|Tags: Cozby & Company, employer credit for family and medical leave, Family and Medical Leave Act, IRS Form 3800, IRS Form 8994, paid family and medicall leave, Plymouth MA CPA Heather Cozby|

IRS Clarifies Who is a Qualifying Relative for Family Credit Purposes

Under the TCJA, effective for tax years beginning after Dec. 31, 2017 and before Jan. 1, 2026, you can’t claim a dependency exemption for dependents, including qualifying relatives, but you may be eligible for a $2,000 credit for each qualifying child and a $500 credit (called the “family credit”) for each qualifying non-child dependent, including qualifying [...]

cozbycpa2018-12-19T17:35:54-05:00December 19th, 2018|Categories: Child Tax Credit, Family Credit, Personal Taxes, Tax Credits, Tax Law Changes, Tax Tips, Taxes|Tags: Cozby & Company, new family credit, no dependency tax exemption for dependents, Tax Cuts and Jobs Act, tax tips in Plymouth MA, TCJA, who is a qualifying relative for family tax credit purposes|