Tag: Tax Credit

The Premium Tax Credit (PTC) allows you offset the monthly premium costs of health care plans purchased via official exchanges or government health insurance marketplaces. For nearly 5 million households, the PTC completely offsets their monthly premium (free health insurance!). Another 10 million benefit with reduced health care premiums. The PTC…

Despite ObamaCare, formally known as the Affordable Care Act, having been around for several years now there is still considerable uncertainty around the various tax credits and subsidies on premiums, deductibles, co-payments, and coinsurance. The value of these credits and subsidies are generally dependent on your modified adjusted gross income (MAGI) and family…

The American economy is experiencing a seeming reversal of fortune following significant internal and external headwinds. The stock market, which tends to be a leading indicator of the economy, is back to 2011 levels. GDP and employment figures are also showing signs of slowing down. Some experts, including former President…

The AOTC allows parents and students to receive a tax credit of up to $2,500 for qualified undergraduate college expenses, based on certain income limits. The AOTC replaced the smaller Hope credit a few years ago as part of bills passed under the Obama administration (see section below for origin).…

The Child Tax Credit (CTC) has seen some key updates enacted as part of the "One Big Beautiful Bill Act." As of the 2025 tax year (filed in 2026) and going forward, the credit is structured to be claimed when filing your tax return, transitioning away from the advance, fully…