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Taxpayers who have dependent children that are younger than 17 by the end of the tax year may be eligible for a $1,000 Child Tax Credit for each child.

Claiming the Child Tax Credit – There are requirements for the taxpayer and for the child that must be met in order to claim the Child Tax Credit and there are also certain limits on the amount of the credit. Your child must be under the age of 17 before December 31, 2009 and you must follow the same rules as claiming a dependency exemption,namely, the child must not have provided their own support during the year and child must have lived with you for more than 1/2 of the year. Also, the child must be the taxpayer’s child,adopted child, stepchild, grandchild, sister, brother,stepbrother, stepsister, eligible foster child etc. Further, a qualifying child must be a U.S. citizen or resident of the United States.

Limitations – The amount of the credit that a taxpayer can claim for a Child Tax Credit is dependent upon the taxpayer’s tax liability, modified adjusted gross income and filing status. The child tax credit begins to phase out when the taxpayer’s modified adjusted gross income is $110,000 for joint filers or $75,000 for single taxpayers or $55,000 for married taxpayers filing separately. If the credit exceeds the taxpayers tax liability, then the taxpayer may be eligible for a refundable credit. This additional credit is commonly referred to as the “Additional” Child Tax Credit and will be discussed below.

Increased Eligibility for 2009 – The 2009 Recovery Act increased the eligibility for claiming the credit by reducing the earned income threshold from $12,550 to $3,000. In the past, to be eligible for the refundable portion of the Child Tax Credit, the taxpayer was required to have earned income which was greater than $12,550.

Additional Refund – The Child Tax Credit amount cannot exceed your tax liability. For instance, if your tax liability is zero, then the Child Tax Credit is zero because there is no liability to decrease. The good news is that, if you are unable to take the full amount of the Child Tax Credit then you may be entitled another credit called the “Additional” Child Tax Credit.

What Happens If I am Not Eligible for the Child Tax Credit – In you do not qualify for the Child Tax Credit, then you may qualify for the “Additional” Child tax Credit. The amount of the “Additional” Child Tax Credit is up to $1,000 for each qualifying child. What is good about this provision is that the “Additional” Child Tax Credit may be able to lower your tax liability to below zero and you may be able to obtain a refund for this excess. To qualify for this ” Additional” Child tax Credit, you must have a tax liability that is less than the allowable child tax credit, meet the requirements of the regular Child Tax Credit and earn more than $11,750 during 2009. If this event occurs, you may be entitled to receive a refund for the “Additional” Child Tax Credit. In order to compute this Additional Child Tax Credit there are more limitations and requirements that are not within the scope of this article and you should read IRS Publication 972.

Conclusion – In conclusion, the Child Tax Credit is a nonrefundable credit that allows you,if you qualify, to reduce your tax liability. If you are not able to use the entire amount of the $1,000 credit then you may be eligible for the “Additional” Child tax Credit which is a refundable tax credit.

This article is not intended to provide legal or accounting advice. Because the tax laws are complex, change constantly and each situation is unique, the reader is advised to do his or her own due diligence and consult with professionals in these areas.

Learn more about how we can help you determine if you are eligible for the Child Tax Credit and other available income tax credits and tax incentives and about our competitively priced paperless and internet based approach to tax preparation at affordable prices. Sandor(Sandy) E. Lenner,MBA/CPA has been providing small business services and accounting for over 35 years and works part-time at his wife’s CPA firm

There are so many jewelry gift ideas from which to choose when you are looking for summer gifts for mom. You can choose from rings, bracelets, watches, pendants and other types of summer jewelry, all of which make the ideal gifts for moms. You should always consider the fact that moms like to have jewelry that reminds them of their children when you are making a selection.

You can look for many different types of jewelry that will not only delight moms, but will also be attractive and functional. These range from watches to rings and necklaces. Take a look at the gifts that are available by way of jewelry and then choose an appropriate summery gift for mom.

Gold jewelry should be preferred over other types of jewelry because it will not tarnish and is of strong quality to hold precious or semi-precious stones. You should try to get the highest quality gold when you are looking for jewelry gifts.

Other summer jewelry gifts include bracelets as they get more wear in the summer months when short sleeves are worn. Take a look at the different bracelets that are made with moms in mind to make your choice.

Rings are always a huge hit with moms everywhere. One idea that you may want to consider when you are looking for jewelry gift ideas is a birthstone ring that has the birthstones of all of her children.

Watches are both attractive and functional and make ideal gifts for any woman. You should look for watches that will compliment the jewelry that she already is wearing in order to make the right choice.

Necklaces that have symbolic meaning are also an ideal choice when it comes to summer jewelry. Necklaces can be worn throughout the year but look especially noticeable with the summer fashions.

Make sure that the jewelry that you select is of good quality and in an attractive design that you think she will like. Whenever you are looking for gifts for any moms on your list, you cannot go wrong with jewelry that reminds her of her children.

You have a lot from which to choose when you are looking for summer jewelry gifts for your mom or your wife. You can choose from rings, bracelets, watches, necklaces earrings and more when you are looking for the ideal gift for a woman. By selecting an attractive piece of jewelry that also bears quality as well as has symbolic meaning, you will be giving a gift that will be cherished for a lifetime.

Before you shop for mom, visit Life Time Mothers for great gifts for mom and do you have used or old diamonds to sell visit us today!

Garden gates are certain to make any garden look more beautiful. It does not matter if a person is planting flowers or vegetables, the effect will still be fantastic. In fact, many, many people always plant their flowers and vegetables together. The idea is to create an effect which makes people curious about what is on the other side. This is certain to generate quite a bit of curiosity and attention. It also make this area a much more desirable location to spend time.

Everyone knows that certain tools will be needed. Obviously a rake and gloves will be a good start. A plot may need rototilling and the addition of compost and/or fertilizer. In some cases, especially where no planting has been done in the past, soil will also need to be tested. Many will stop right there, but there is much more that can be added in order to make the area even more beautiful.

Most people like to start with a focal point such as a water feature, a special statue, or something else of the sort. Chairs, benches, and sometimes even tables are added. This is especially so if the area is to be used for entertaining or relaxing as well as growing plants. This certainly does quite a bit to make this a more frequently used part of the yard.

Koi ponds, and ponds in general are an excellent addition to many outdoor settings. Water lilies, bulrush, and other aquatic plants make a lovely environment for the fish, while also keeping algae to a minimum. How much lovelier these become when surrounded by a beautiful border with a lovely gate.

Most people want to keep birds away from their plants. These birds can be more than a small nuisance, and destroy an entire garden quite quickly. For this reason people will want to be careful to not place feeders too near this area. Hummingbirds however, are a wonderful addition. They are both beautiful and amazing to watch. They can be attracted by planting certain flowers which they are attracted to. Special hummingbird feeders are also widely available and almost always bring them into a yard. This is sure to create delight for most people, as these small birds are generally quite elusive.

The use of gates is an excellent way to separate one portion of a yard from another. They can be used in entryways and paths in order to add a bit more drama or beauty. Some people also use them to make a dramatic driveway entrance.

Arbors, beautifully paneled fences, and post toppers are great examples of small changes that can be made while creating a brand-new look. People need to keep in mind that beautifying a yard is labor intensive. This is why most consider it to be a labor of love. While some prefer to call professional landscapers to do this work, others would never dream of doing this. These are the people who prefer to do it themselves.

Regardless of the purpose, there is quite a large variety of styles and designs available. People are certain to be delighted when they see the beautiful affects that are created through the use of garden gates.

Buy one of those garden gates to add to the look of your outdoors. There are several choices of gates that you can find to buy. Head online now and get yours!