![]() The state of Georgia will only give out up to $100 million in this credit per year, so it’s on a first-come, first-serve basis-which means you’ll want to take action as soon as possible to claim it. You must request pre-approval electronically to claim the credit. Qualified education expenses, such as tuition and student activity fees, can be claimed on your Georgia state tax return. The credit is nonrefundable, which means it can’t trigger a tax refund, and it can’t be carried over to the next year. If you paid for caregiving expenses (adult day care, health care equipment, etc.) for a qualifying family member (which can be yourself or some related to you by blood, marriage or adoption), you can claim 10% of the costs, up to a $150, on your Georgia state tax return. ![]() Other States Tax Creditįull-year and part-year residents can claim a credit for income tax paid to another state to avoid paying tax on it twice. This credit is nonrefundable, which means it can’t trigger a tax refund, but it can be carried forward until it’s completely claimed. The credit amount is less than 1.2% of the purchase price or $1,800. The state of Georgia offers a tax credit for those who bought a single-family residence in the state. Eligible Single-Family Residence Tax Credit If you receive disaster assistance (such as grants from FEMA or Small Business Administration loans in response to a declared disaster) during the tax year, you can claim a credit up to $500. This credit can be carried forward for three years. If a permanently disabled person retrofits an existing single-family home with accessibility features, they can claim a credit up to $125. Disabled Person Home Purchase or Retrofit CreditĪ permanently disabled person that buys a single-family home with accessibility features (such as a no-step entrance) can claim a credit up to $500. The credit is worth 30% of the credit claimed on your federal income tax return. Taxpayers with dependents can claim a credit for qualified child and dependent care expenses, such as money spent for care outside of your home. Georgia State Income Tax Credits Child and Dependent Care Expense Credit The exemption is $2,700 for single filers, heads of households or qualifying widowers, $3,700 for married filing jointly and separately, and $3,000 per qualifying dependent. The state of Georgia has personal exemptions to lower your tax bill further. Generally, if you itemize your deductions on your federal return, you must itemize them on your Georgia return. ![]() There is an additional standard deduction of $1,300 for those aged 65 or over, and blind. The 2021 standard deduction allows taxpayers to reduce their taxable income by $4,600 for single filers, $3,000 for married filing separate and $6,000 for married filing jointly. The state of Georgia offers a standard and itemized deduction for taxpayers. Georgia Income Tax Brackets and Rates: Single Filers Georgia Income Tax Brackets and Rates: Married Filing Jointly or Head of Household Georgia Income Tax Brackets and Rates: Married Filing Separate Income Tax Deductions for Georgia Standard Deduction ![]()
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