I had a child this last year, and it was my understanding that I now qualified for a child tax credit on my taxes. I tried looking in the tax booklet that I received last year to see what this credit was and how much it was, but I found the language to be extremely confusing; I basically had no idea what they were saying. I went online to see if I could find a simpler explanation, and I found a great website that did just that. Even more, they had link for a child tax credit calculator at the bottom of the page that I could use to find out how much my credit was. I only needed to enter some basic information about our income and deductions to learn more about the credit. I am glad that there are websites like this out there, otherwise I would be lost on a lot of things
I usually do my own taxes with online software. They are pretty straight forward in my case, with a simple w2 and typically the standard deductions. This year though, my taxes will be a little different. My wife and I had a child last year and so, I now qualify for the child tax credit. This is basically a credit that will offset, or reduce, the amount that I owe in taxes. I wasn’t sure how much this deduction would be and because of that, decided to do a little research. I wanted to be sure that I had the right information before preparing my taxes, which is why I felt the research was so important. I found a great website that clearly explained the tax credit and showed me how much I qualified for based on my income. This was the clearest explanation of it that I have seen to date. It really helped me to get things right as I completed my return. My taxes are now filed and I’m quite happy to say, I will be getting a good sized refund.