Скачать с ютуб (Child Tax Credit Rules 2018) Child Tax Credit Explained (How the Child Tax Credit Works) в хорошем качестве

(Child Tax Credit Rules 2018) Child Tax Credit Explained (How the Child Tax Credit Works)

Child Tax Credit 2018 Rules Explained (How the Child Tax Care Credit Works) Very Detailed). Includes downloadable spreadsheet. This video will cover the child tax care credit rules for both 2017 and 2018. Link to downloadable work doc: https://www.dropbox.com/s/qnsbxgb1z35... Here are the time stamp shortcuts so you can jump to or go back to any point in the video! •How much is the child tax credit worth - 1:36 •How the child tax credit works - 1:50 •Is the child tax credit refundable? - 2:09 •Child tax credit adjusted gross income test - 3:30 •Child tax credit income phaseout (How it works) - 4:10 •Qualifying Child Test Rules for Child Tax Credit - 5:08 •Qualifying Child Test check the box rules - 8:00 •What worksheet to use for child tax credit - 9:00 •2018 Child tax credit rules! 2018 changes - 12:50 •Final things to know about the child tax credit. Very important - 15:00 2018 Child Tax Care Credit Changes and Updates (Per HR&Block) Under the new Tax Cuts and Jobs Act (TCJA) the following child tax credit changes will take place in 2018: • The Child Tax Credit under 2018 tax reform is worth up to $2,000 per qualifying child. The age cut-off remains at 17 (the child must be under 17 at the end of the year for taxpayers to claim the credit). • The refundable portion of the credit is limited to $1,400. This amount will be adjusted for inflation after 2018. • The earned income threshold for the refundable credit is lowered to $2,500. • The beginning credit phase out for the CTC increases to $200,000 ($400,000 for joint filers). The phase out also applies to the new family tax credit. • The child must have a valid SSN to claim the nonrefundable and refundable credit. Prior to the TCJA, the taxpayer who was eligible to claim the child’s dependent exemption was also the one eligible to claim the CTC. In turn, the taxpayer and child had to meet several “tests” for the one to be considered the dependent of the other. The TCJA eliminates the dependent exemption itself, but retains the definition of dependent to claim the CTC and other child- or dependent-related tax benefits. For Child Tax Credit reform purposes, this will usually mean that the child must be related to the taxpayer in one of several ways (son, daughter, grandchild, etc.), must live in the taxpayer’s home more than half the year, and must not provide more than half of his or her own support. Special rules apply if the parents are divorced or legally separated. As under previous law, strict due diligence requirements apply for tax professionals who prepare returns with the refundable Child Tax Credit during the 2018 tax year. All changes to the new Child Tax Credit expire after December 31, 2025. Check out some of our other videos and playlists here: ♦ Investing in the stock market!: https://goo.gl/yVAoES ♦ Save money, budget, build wealth and improve your financial position at any age: https://goo.gl/E97nJj ♦ Learn more about how federal income taxes work: https://goo.gl/D1hCX1 ♦ Ways to improve your life at any age: https://goo.gl/uq72bu Please subscribe for our future weekly videos. New videos typically every Sunday or Wednesday. Do not forget to help out a friend and share this information with them as well. About me: I'm passionate about helping people build wealth by learning more about personal finances, investing and taxes. My mission is to help people improve their financial position career and life. I also enjoy teaching others about the accounting profession, tech tips, and helping people overcome challenges in their everyday life as well as their career. You can find our content on other internet planets such as....... My Website: Moneyandlifetv.com Twitter:   / mkchip123   Facebook:   / moneyandlifetv   **Disclaimer** All of the information in this video is presented for educational purposes only and should not be taken as financial, tax, or investing advice by any means. I am not a financial adviser. Although I am a CPA I cannot advise someone for tax purposes without knowing their complete tax situation. You should always do your own research before implementing new ideas or strategies. If you are unsure of what to do you should consider consulting with a financial adviser or tax accountant such as an Enrolled Agent, or Certified Public Accountant in the area in which you live. Thanks for taking time to check out this video, and our channel. Have a great day and we will see you in the next video!