Aaron 
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Online Status: Offline Date Posted: 2/8 08:31am
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For those of you having to file a tax return this year, be sure to mention to the person doing your return the Making Work Pay credit. It's a credit that gives you 6.2% of your income up to $400($800 married). I know I enjoyed getting an extra $400 on my refund this year. 
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Aaron
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Online Status: Offline Date Posted: 2/8 09:44am Last Edit: 2/8 09:44am by Aaron (1 edits total)
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In the event that the person doing your tax return actually hasn't heard of this credit, you can tell them the form required to get it is Sch M.
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Andvari300 
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Already got it.
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Aaron
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Online Status: Offline Date Posted: 2/8 09:59am
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It's good stuff. I like getting extra money.
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Quicky Nikki
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Eruedraith 
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Does it depend on how much you already make? I don't work enough days and hours, is the thing.
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Aqualung 
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Me either  I want $400 -mistik
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"They who dream by day are cognizant of many things which escape those who dream only by night" - Edgar Allan Poe
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Aaron
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| QUOTE (Eruedraith @ Feb/8/10 12:12pm) | | Does it depend on how much you already make? I don't work enough days and hours, is the thing. |
The credit is 6.2% of what you made, up to $400. If your W-2(s) show(s) that you made $1000 for the year, the max this credit would be for you is $62.
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Eruedraith
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Online Status: Offline Date Posted: 2/8 11:02am
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I'd have to check my last pay stub. I'll be happy just to have made near $2000 last year.
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From a boiler in the basement of hell
In this low rent, walk-up, broken-down hotel
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Aaron
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Online Status: Offline Date Posted: 2/8 11:17am
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Well I'm assuming you've gotten a W-2. Just look at box 1 and see how much you made for the year. 6.2% of that will be the credit you'll get when you do your tax return. Also, pretty sure this year that tuition paid to college (you should get a 1099 form from your college showing how much you paid in tuition) is a refundable credit. That means, unlike previous years, the credit you can get for paying tuition will be refunded to you, even if you don't owe taxes. In the past, you would use tuition to write off your income so that the taxes you owe would be less. This year, if your personal exemption and standard deduction are enough to write off your income (which, in your situation, if you made $2k, will be more than enough to write it off), the credit you would have gotten for claiming your tuition would be included in your refund. Like I said, though, your school should have sent a form to you by now showing how much tuition was paid. Mine was nearly $14,000 for the year plus another $1000 to the school I went last summer. 
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MexicanJesus
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Online Status: Offline Date Posted: 2/8 04:05pm
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I did the math and both me and the wife made enough each to max the 400 a piece. I did turbo taxes little tax caster and it said 3k. I wonder if it counted this credit.
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Mommy probably already knows about it, but it won't hurt to ask anyway.
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| QUOTE (Aaron @ Dec/18/09 10:50pm) | | QUOTE (Darth Invader @ Dec/18/09 08:57pm) | | NO YOU DON'T. |
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