Tax Tip

March 2019

Tax Day – Monday, April 15 – is fast approaching. Don’t forget to claim the federal and state “Earned Income Tax Credit,” if you qualify. The federal credit ranges from $519 to $6,431 this year, depending on income and number of children. (Though you do not need to have children to qualify, nor do you have to be married.) The Californian Earned Income Tax Credit (CalEITC) ranges from $232 to $2,879. Here is an example of how it generally works: A married couple earning less than $54,884 with three children may qualify for up to $6,431. Another $2,879 may be claimed on the family’s California tax return.

Learn more at:

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/eitc-income-limits-maximum-credit-amounts

https://www.ftb.ca.gov/individuals/faq/net/900.shtml#2018TaxYear

https://caleitc4me.org/earn-it/