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Ccg2 Form

Ccg2 Form

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hi my name is Steve waah there and I'm a CPA with Gelman Rosenberg and Friedman the topic we'll cover today in some detail is the child and dependent tax credit there have been some recent changes in the child tax credit and these changes will capture quite a few additional tax payers in the January 2018 through December 2025 tax seasons I want to first give you an indication of their rules prior to January 1st 2018 and then I'll explain how these rules have changed to your benefit moving forward so let's jump in in tax years before 2018 and after 2025 the tax credit allowed for a maximum credit of $1,000 per child and adjusted gross income phase-outs of 110,000 for married filing joint 75,000 for single and 55,000 for married filing separate the three major changes are the amount of the tax credit the adjusted gross income phase out and the refundable amount of the credit tax credit amount has changed from $1,000 per child to $2,000 per qualifying child

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