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Calculating the Making Work Pay Credit

I’ve received a bunch of questions about the Making Work Pay Credit. I agree – it is confusing. Let me see if I can make some sense of it for you. To keep things simple, I’m doing this in two posts....

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Making Sense of the Making Work Pay Credit

So now that you’ve calculated the Making Work Pay Credit, what does it all mean? A credit is a dollar for dollar reduction in your tax bill. So if you owed $1000 and the credit was $400, your tax bill...

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Making Work Pay Credit: The Basics

I’ve been getting lots and lots of questions about the Making Work Pay Credit. To make it easier for you, here are the basics: The Making Work Pay Credit is only available for taxpayers with earned...

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Ask The Taxgirl: Did The Feds Make A Goof?

Taxpayer asks: Thanks for your blog entries on the Making Work Pay tax credit – very helpful. I’m wondering if the tax tables have been “fixed” for 2010 so that people with more than one job or spouses...

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Fix the Tax Code Friday: Making Work Pay Credit

Although the Bush tax cuts are making the most news these days (a logical focus considering the size and scope of the cuts), Congress is considering a number of other tax-related proposals. Among the...

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Calculating the Making Work Pay Credit (2011)

There have been few changes in the Making Work Pay Credit since last year (look for my post later today summarizing what you need to know). Those changes are, however, enough to throw taxpayers, so...

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It’s Baaaack: Making Work Pay Credit

My inbox is already filled with taxpayers trying to wrap their heads around the Making Work Pay Credit. Yep, it’s back and just as confusing as it was last year. Here are a few tips to help you sort...

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Taxes From A To Z (2014): F Is For Foreign Tax Credit

F is for Foreign Tax Credit. Most taxpayers are aware that you can deduct state and local income taxes paid during the year on your federal income tax return. But what about those foreign income taxes?...

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