To be eligible for a student loan interest tax credit, the interest must be on a loan under:
What types of loan qualify for student loan interest tax credit?
Posted on
Category: Articles
Some restrictions on deductible child care expense amount
Posted on
In the following situations, there are restrictions on the child care expense deduction limits:
Which spouse should claim child care expense deduction?
Posted on
If a child lives with both parents, child care expense deduction has to be claimed on the tax return of the lower income spouse. However, the higher income spouse may be able to claim the deduction if the lower income spouse is in the following situations:
What is child care expense deduction?
Posted on
Child care expenses are generally considered personal or living expenses. However, some expenses may be tax deductible if they were incurred to allow you or your spouse to earn income from employment or self-employment, to go to school, or to conduct research.
What is the child care expense deduction limit?
Posted on
In typical situation, where the child lives with both parents, the child care expense deduction has to be claimed by the lower-income parent (there are exceptions). Here is the maximum amount that can be claimed as a tax deduction:
What child care expenses are deductible?
Posted on
Deductible child care expenses include payments to the following:
What is moving expense deduction?
Posted on
If you move to a new location to start a job, to start a business, or for full-time post-secondary education, you may be eligible to deduct your moving expenses from income earned at the new location.
What is charitable donation credit?
Posted on
Charitable donation is a non-refundable tax credit for the donations and gifts.
What is refundable medical expense supplement?
Posted on
Refundable medical expense supplement is a refundable tax credit for working individuals with low income and high medical expenses.
How to claim medical expense credit for other dependants?
Posted on
You can claim eligible medical expenses paid for dependants other than your children under 18 years old. Expenses paid for the following persons are eligible if they depended on you for support: