Are there any tax credits available?

Yes, there are tax credits available in California. These credits provide tax relief to taxpayers who meet certain qualifications as outlined by the California Franchise Tax Board (FTB). The following are some of the credits available in California: The Low-Income Tax Credit reduces the amount of California income tax owed for taxpayers who meet certain income eligibility requirements. The Elderly or Disabled Credit is available for taxpayers who are age 65 or older at the end of tax year, or who are disabled and filing a joint return. The CalEITC (California Earned Income Tax Credit) is a refundable credit designed to help eligible low-income workers. The Business Income Tax Credit for Small Businesses offers businesses that employ fewer than 100 full-time employees a credit against their income tax based on their business’s taxable income. The California Children’s Tax Credit is available to individuals who have a dependent child age 18 or younger. The Child and Dependent Care Expense Credit is available to taxpayers who have qualifying dependent children and care expenses. The Federal Tax Credit for Child Adoption Assistance helps taxpayers who have adopted children with special needs. The Credit for Excess Dependent Care Expenses gives a credit to taxpayers who have dependent care expenses beyond what was paid in taxes. In addition, there are often credits available for homeowners, veterans, and disabled persons. These credits can provide much-needed tax relief and should be taken advantage of if you meet the qualifications.

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Are there any tax credits available?

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