About This Chapter
Tax Credits for Individuals - Chapter Summary
Take a look inside this chapter to review concepts pertaining to tax credits for individuals. Our instructors use an engaging teaching style, and they'll help you understand the rules, applications and eligibility requirements of many tax credit types. When you're finished with the chapter, you should be able to:
- Understand eligibility requirements for earned income tax credit
- Recognize tax credits relating to child and dependent care
- Identify common education tax credits
- Compare different types of health tax credits
- Evaluate the applications of retirement contribution tax credits
Following each lesson is a short quiz to help you retain important tax terms and concepts. If you have any questions about individual tax credits, simply reach out to our expert instructors online. The chapter is entirely self-paced, and you can access the material using your computer or mobile device.
1. Earned Income Tax Credit: Definition & Eligibility
As an enrolled agent, you have to know about the earned income tax credit. This credit helps many parents out each and every year at tax time. Learn who qualifies and how to get the credit in this lesson.
2. Child & Dependent Care Tax Credits
After reading this lesson, you'll know the ins and outs of the child and dependent care credit. You'll learn who qualifies and how much they can expect to get.
3. What are Education Tax Credits? - Definition & Eligibility
In this lesson, we will review the differences between the two major education tax credits, as well as discuss how to qualify for and choose the credits which will result in the smallest possible tax bill.
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Other chapters within the Special Enrollment Examination (SEE): Exam Prep & Study Guide course
- Preliminary Work for Personal Tax Preparation
- Income & Asset Tax for Individuals
- Retirement Income Taxation
- Real & Personal Property Taxes
- Itemized Tax Deductions for Individuals
- Preparing Individual Taxes
- Advising Individual Taxpayers
- Specialized Tax Returns for Individuals
- Tax Considerations for Business Entities
- Tax Considerations for Business Partnerships
- Tax Considerations for Corporations
- Business Income Calculations
- Business Expenses, Deductions & Credits
- Analysis of Financial Reports
- Advising Business Taxpayers
- Specialized Tax Returns for Businesses
- Practices & Procedures of IRS Enrolled Agents
- Representation Before the IRS
- Representing the Taxpayer in the Collection Process
- Completing the Tax Filing Process
- Special Enrollment Examination (SEE) Flashcards