Mom2Two 09:45 AM 12-19-2018
I read on CNBC that the new child tax credit for minors law is taken off the taxes owed. Does that include taken off business taxes owed or just income taxes?
TomCopeland 09:03 AM 12-20-2018
Originally Posted by Mom2Two:
I read on CNBC that the new child tax credit for minors law is taken off the taxes owed. Does that include taken off business taxes owed or just income taxes?
The child tax credit has doubled in 2018 from $1,000 per child to $2,000. This is a personal tax credit, not a business tax deduction.
Mom2Two 11:32 AM 12-20-2018