Posted 3/23/2024 21:59 (#10677282 - in reply to #10677260) Subject: RE: Ya you're rite Ross..............
North Central Illinois
Kooiker - 3/23/2024 21:48
There are tax credits available that are recurring for 17 years, your wife may or may not be interested in helping you try to secure one...
You can also foster or adopt and get the same, but that's a bad reason for doing either of those things. Makes it easier to afford doing so though.
Child tax credit, earned income credit, and a few others are refundable. Most others are not refundable, but the unused portion can be rolled over for several years. For example, I had a solar array installed this year. 30% of installed cost is a federal tax credit. I didn't use all of as my total tax bill after other credits was less than the solar credit amount. Next year I can claim the remaining portion as a credit and again roll the unused portion into the next year.
Financial thought
