1. Nonrefundable
Credits
Tax Credits
• Child tax credit
• Additional Child Tax
Credit
• Child Care Expenses

2. What is a
nonrefundable tax
credit?
• A nonrefundable
credit is limited to
the tax liability
What is your tax
Your tax is
your tax
liability

3. Nonrefundable
Child Tax
Credits
Credit
We calculate your
No limit to the
number of qualifying
children
$1000 per
child

4.  Child
Tax
Credit
Two Limits to the credit
Tax Liability
AGI Phaseout

5. Tax Liability
AGI Phaseout
This is your tax on page
2 your 1040
This is your
adjusted gross
income from
page 1 of 1040

6.  Child
Tax
Credit
AGI
PHASEOUT
IRS Phase Out
Filing Status
Phase out for 2012
MFS (Married
Filing Separately
Single, Head of Household,
Qualifying Widow
MFJ (Married Filing Jointly)
$55,000
$75,000
$110,000

7.  Child
Tax
Credit
Crossing the
AGI PHASEOUT
The maximum credit is reduced
by $50 for each $1000 over the
threshold

8. Nonrefundable
Credits
Good Newslimited by tax
We calculate your!! liability?
Additional Child
Tax Credit
1. Client has to have $3000
or more of earned
income
2. Three or more qualifying
children

9. We calculate your!!
Day Care
To be eligible
1.
2.
3.
4.
Child and
dependent care
Credit
Employed
Self-employed
Looking for a job
Enrolled as a full time
student

10. Child and dependent Day care
Married Couples
care credit
Married couples must each be
eligible
• One spouse may not be
stay-at-home
• For those clients who work
from home as employees or
self-employed are eligible

11. We calculate your!!
Day Care
Child and dependent care
Credit
Maximum Credit
1. $3000 for one
qualifying child
2. $6000 for two or
more children

12. We calculate your!!
Child and
dependent care
Credit
Maximum Credit
Day Care
1. Expenses are eligible
in the year paid, not
incurred.
2. $6000 for two or
more children

13. Don’t Overpay Your
Taxes
By Margaret
Specializing in Personal and Business Tax Retuns. Over 8years tax preparation
and over 200 satisfied customers last year. I would like to add you as my customer this
year.
Available
Dates
Location
Available
Time
Year
Round
January to April
Available
Services
5960 Beach Blvd
Jacksonville, FL 32207
(904)962-7703
•1040EZ $60.00
• 1040, 1040A, 1040X $80 - $190
•1099-A, B, DIV, C, R
• Partnerships & Corporations
• PC- By Appointment
Questions & IRS Letters:
Margaret.rogers@tax.hrblock.com
By Appointment Monday to Saturday
Cost
5960 Beach Blvd
Jacksonville, FL 32207
•1040EZ $60.00
• 1040, 1040A, 1040X $80 - $190
•1099-A, B, DIV, C, R
• Partnerships & Corpor
By Appointment Monday to
Saturday