February 3, 2006, Newsletter Issue #167: Tax Time Rewards
Tip of the Week
Tax time—that time of year adults have learned to dread. If you recently became a single parent, you may be pleasantly surprised, when you file your income tax return. If you have children living in your home, you can qualify as Head of Household and are entitled a large deduction than you would if you were filing single. You may also qualify for Child Care Credit for children under 17. And, do not forget to check out the Earned Income Credit given to individuals with low incomes (for 2002, up to $29,00 for one dependent child or $33,000 with two dependent children.) You may get more money back than you paid in.
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