What is the maximum amount of income I can earn to acquire the earn income import tax credit?
I enjoy one child.
Answers:
These are the digit for 2006. For 2007 it should be slightly more:
* Earned income and in synch gross income (AGI) must respectively be smaller amount than $32,001 ($34,001 married file jointly) next to one qualify child;
* Maximum credit: $2,747 beside one qualify child;
* Investment income must be $2,800 or smaller quantity for the year.
I believe it is $30,000
Around $34,000 on a pooled return, otherwise around $32,000. If you are close to hitting the target, your EIC will be exceptionally small.
If you be going to you want to acquire the maximum EIC, your income should be something like 15,000-17,000. See page 55-56 of the 2006 1040 Instructions.
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Answers:
These are the digit for 2006. For 2007 it should be slightly more:
* Earned income and in synch gross income (AGI) must respectively be smaller amount than $32,001 ($34,001 married file jointly) next to one qualify child;
* Maximum credit: $2,747 beside one qualify child;
* Investment income must be $2,800 or smaller quantity for the year.
I believe it is $30,000
Around $34,000 on a pooled return, otherwise around $32,000. If you are close to hitting the target, your EIC will be exceptionally small.
If you be going to you want to acquire the maximum EIC, your income should be something like 15,000-17,000. See page 55-56 of the 2006 1040 Instructions.