How Determine On Your Canadian Tax Computer Program: Difference between revisions
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Latest revision as of 08:19, 30 August 2026
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Now, let's wait and watch if we are whittle made that first move some better. How about using some relevant tax credits? Since two of your youngsters are in college, let's feel that one costs you $15 thousand in tuition. There is a tax credit called the Lifetime Learning Tax Credit -- worth up to 2 thousand dollars in instance. Also, your other child may qualify for something known as Hope Tax Credit of $1,500. Confer with your tax professional for probably the most current information on these two tax loans. But assuming you qualify, that will reduce your bottom line tax liability by $3500. Since you owed three thousand dollars, your tax is now zero dollars.
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