most important thing about a man is what he believes in the depth of
being. This is the thing that makes him what he is, the thing
organizes him and feeds him; the thing that keeps him going in the face
of untoward circumstances; the thing that gives him resistance and
-- Hugh Stevenson Tigner
can who thinks he can, and he can't who thinks he can't. This is
an inexorable, indisputable law." -- Henry Ford
you think a certain thought long enough and hard enough, it becomes a
belief and you will find yourself behaving on the outside in a manner
with it." -– Brian Tracy
will underestimate us, for although we judge ourselves by what we feel
capable of doing, others judge us only by what we have already done."
limitations and success will be based, most often, on your own
for ourselves. What the mind dwells upon, the body acts upon." --
you conduct yourself as though you expect to be successful and happy,
will seldom be disappointed." -- Brian
not that people want too much, it's that they want too little." -–
Child Tax Credit
|As is typical of tax legislation over the past decade, a number of Tax
Acts offered tax relief to individuals, but did so through a variety of complex
provisions that included retroactive, temporary and phased-in/phased-out
effective dates. While some of these
provisions may not apply to you, other provisions will and you may want to revise
your planning to take full benefit of those provisions.
is the child tax credit. If you would like
information on this topic, please call my office.
The Child Tax Credit
The amount of the child tax credit was previously increased
from $500 to $1,000. The increase
was temporary and the child tax credit was scheduled to return to $500 after
December 31, 2010. The 2010 Tax Relief
Act, however, continues the child tax credit at $1,000 through 2012. In 2013, the child tax credit returns to $500
unless a future Congress takes action.
Amount per Child Under 17
2011 - 2012
- The child tax credit is not indexed for inflation;
- The child tax credit phaseout begins at adjusted gross income levels of $110,000 married and $75,000 single;
- The child tax credit can be claimed against the alternative minimum tax;
- The credit is refundable to the extent of 15% of the taxpayer's earned income in excess of $3,000 in 2011 and 2012; and
- A federal income tax return must be filed to receive a child tax credit
||Consider using tax
from the child tax credit to fund an Education Savings Account or to
in a State Tuition Program.
UP by Zig Ziglar
in the days of sailing ships, a young sailor went to sea for the first
The ship encountered a heavy storm in the North Atlantic. The young
was commanded to go aloft and trim the sails. As he started to climb,
made a mistake and looked down. He started to lose his balance. At that
moment, an older sailor underneath him shouted, "Look up, son, look
The young sailor looked up and regained his balance.
things seem bad, look to see if you're not facing the wrong direction.
When you're looking at the sun, you see no shadows. When the outlook
good, try the uplook -- it's always good!
don't want to add to your e-mail clutter! If you do not enjoy
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of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
in nature and should not be considered complete information on any
or concept described. For more complete information, please
my office at the phone number above.
Published by The Virtual Assistant; © 2011 VSA, LP