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A tax credit is among the most satisfying benefits you can turn up when preparing your return. Unlike a deduction, which decreases the income on which you’ll be taxed, a tax credit reduces your overall tax due. The result can mean hundreds of dollars knocked off your bill — or added to your refund.
The child tax credit can wipe out a considerable chunk of your tax bill.
Unlike a deduction, which decreases the income on which you’ll be taxed, a tax credit reduces your overall tax due. The result can mean hundreds of dollars knocked off your bill — or added to your refund. Some tax credits apply to a huge swath of the population, while others are specialized to incentivize specific economic activity. Before you file your return, consider looking for tax credits that could save you money. Among the commonly used programs are the earned income tax credit, the child tax credit, and credits to support higher education and training.
Let us speak today of the proposed elimination of the IRS — an agency that certainly has no fan base. As I write this, I am looking at a tower of tax documents, as yet unopened, as I contemplate yet another season of dread.
The town of Great Barrington will now charge short-term rental hosts a $200 yearly fee to register their properties. Airbnb hosts say it's yet another government bite into their profits.
How to split the tax burden between residential and commercial property owners was debated, but not decided, at the City Council meeting Wednesday night.
Interprint is embarking on a nearly $28 million expansion of its Pittsfield plant, expanding its facilities on Route 41 by 57,000 square feet and adding 20 new jobs over the next three years. A new agreement with the city would give the company a break on its property taxes while the project is underway.
The gubernatorial candidates met Thursday for their second and final debate ahead of the Nov. 8 election, sparring over how to blunt the sting of rising energy costs and prepare for a possible COVID-19 surge, and the repeal of Roe v. Wade.
Proponents say Question 1 will direct much-needed money to Massachusetts schools, public colleges and universities and transportation systems. Opponents argue there’s no guarantee those dollars will reach their targets.
At a launch event at Berkshire Community College on Monday, local legislators and organizers said a new amendment could bring billions to the state's infrastructure and education systems by way of higher taxes on incomes over $1 million.
