Mining Tax Credits

On Demand Webinar

Webinar Details $219

  • Rated:
  • Webinar Length: 100 Minutes
  • Guest Speaker:   Chuck Borek
  • Topic:   Taxation and Accounting
  • Credit:   ATATX 1.5
All Access Membership

Tax credits are among the most valuable features of any tax system because they represent a dollar-for-dollar reduction in the amount of tax liability. In some cases, they may even generate a refund. The problem is that many available tax credits are complicated and not well known by taxpayers. As a result, many credits at both the federal and state level go unused. This course is designed to help you build a strategy for identifying applicable tax credits and maximizing their use. 

Topic covered include:

  • The earned income tax credit
  • The child tax credit
  • Energy-related tax credits
  • Business incentive tax credits
  • The foreign tax credit
  • State tax credits
  1. Introduction
  2. Topics Covered 00:03:36
  3. The Nature Of Tax Credits 00:06:41
  4. Tax Deductions Vs. Tax Credits 00:09:10
  5. Tax Credit Basics 00:10:57
  6. Nonrefundable Credits 00:13:22
  7. Refundable Credits 00:14:14
  8. Partially Refundable Credits 00:15:02
  9. Spectrum Of Tax Credits 00:16:04
  10. The Earned Income Credit 00:18:24
  11. Qualifications 00:20:12
  12. 2022 Earned Income Credit 00:21:11
  13. State EITC Issues 00:22:59
  14. State-Level EITCs In 2022 00:25:11
  15. Connecticut 00:26:05
  16. Washington DC 00:26:29
  17. Hawaii 00:28:00
  18. Illinois 00:28:35
  19. Maine 00:28:46
  20. New York 00:28:58
  21. Oregon 00:29:09
  22. Utah 00:29:17
  23. Vermont 00:29:30
  24. Virginia 00:29:39
  25. The Child Tax Credit 00:30:35
  26. Qualifications 00:32:13
  27. Basic Dependency Qualifications 00:34:21
  28. Qualifying Child 00:35:47
  29. Qualifying Child Continued 00:36:38
  30. Qualifying Relative 00:37:02
  31. Qualifying Relative Continued 00:38:05
  32. Last Year Vs. This Year 00:38:42
  33. Last Year Vs. This Year Continued 00:40:33
  34. Energy-Related Tax Credits 00:51:23
  35. Business Energy Credits 00:51:47
  36. Energy Investment Credit 00:53:56
  37. Solar Tax Credit 00:55:30
  38. Database of State Incentives for Renewables & Efficiency 00:57:36
  39. Business Incentive Tax Credits 00:59:43
  40. Research And Development 01:00:00
  41. Research And Development - Main Calculation Method 01:01:42
  42. Research And Development  - Payroll Credit 01:03:25
  43. Activities Qualifying For Credit 01:04:10
  44. Costs That Qualify For The Credit 01:04:43
  45. Research And Development - Specific Qualifications 01:05:24
  46. Research And Development - Specific Qualifications Continued 01:06:31
  47. Employer Tax Credits 01:08:31
  48. Employer Tax Credits Continued 01:09:11
  49. Work Opportunity Tax Credit 01:09:24
  50. WOTC Targeted Groups 01:11:20
  51. WOTC Targeted Groups Continued 01:12:33
  52. Empowerment Zone Credit 01:13:45
  53. 2022 Empowerment Zones 01:15:03
  54. State Hiring Tax Credits 2022 01:15:36
  55. Employer Tax Credits 01:16:25
  56. Employer-Provided Child Care 01:17:08
  57. Small Business Health Care 01:18:57
  58. Mine Rescue Team Training 01:22:37
  59. Retirement Plan Start-Up 01:23:31
  60. Employer Tax Credits 01:25:09
  61. Differential Wage Payment 01:25:31
  62. FICA Tip Credit 01:28:19
  63. Credit For Family And Medical Leave 01:30:05
  64. The Foreign Tax Credit 01:32:38
  65. Foreign Tax Credit Basics 01:34:58
  66. Foreign Tax Credit Basics Continued 01:35:35
  67. Foreign Tax Credit Complications 01:36:36
  68. Foreign Tax Credit Complications Continued 01:37:57
  69. State Tax Credits 01:39:29
  70. Virginia Tax Credits 01:40:10
  71. Maryland Tax Credit Programs 01:40:51
  72. California Credits 01:41:09
  73. Florida Tax Incentives For Businesses 01:41:27
  74. Presentation Closing 01:43:26

  • Business Incentive Tax Credit 00:59:44
  • Child Tax Credit 00:30:46
  • EITC - Earned Income Tax Credit 00:18:28, 00:23:09
  • Empowerment Zone Credit 01:13:48, 01:15:05
  • Energy Investment Credit 00:53:56
  • Federal Insurance Contributions Act (FICA) 01:28:19
  • Foreign Tax Credit 01:32:42, 01:35:01
  • Nonrefundable Tax Credit 00:13:27, 00:13:39
  • Qualified Research Expenditure (QRE) 01:01:37
  • Refundable Tax Credit 00:14:17, 00:14:23
  • Solar Tax Credit 00:55:33, 00:55:46
  • Tax Bracket 00:10:08
  • Tax Credit 00:10:15
  • Tax Deduction 00:09:31
  • Work Opportunity Tax Credit (WOTC) 01:09:20

Business Incentive Tax Credit: Provide companies with a direct reduction in tax liability in return for taking a particular action.

Child Tax Credit: A child tax credit is a tax credit for parents with dependent children given by various countries. The credit is often linked to the number of dependent children a taxpayer has and sometimes the taxpayer's income level.

EITC - Earned Income Tax Credit : The United States federal earned income tax credit or earned income credit is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children.

Empowerment Zone Credit: Is an incentive to businesses that are located in an empowerment zone (EZ) to hire and retain employees who also live in the EZ.

Energy Investment Credit: Is a government-sponsored incentive that reduces the cost for people and businesses to use alternative energy resources.

Federal Insurance Contributions Act (FICA): The Federal Insurance Contributions Act is a United States federal payroll contribution directed towards both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.

Foreign Tax Credit: Is a U.S. tax credit used to offset income tax paid abroad. U.S. citizens and resident aliens who pay income taxes imposed by a foreign country or U.S. possession can claim the credit.

Non-Refundable Credit: A non-refundable tax credit is a tax credit that can only reduce a taxpayer's liability to zero. 1? Any amount that remains from the credit is automatically forfeited by the taxpayer. A nonrefundable credit can also be referred to as a wastable tax credit, which may be contrasted with refundable tax credits.

Nonrefundable Tax Credit: Is a credit that is applied to taxes payable that only reduces a taxpayer's liability to a minimum of zero.

Qualified Research Expenditure (QRE): An in-house research expense of the taxpayer or a contract research expense of the taxpayer is a qualified research expense only if the expense is paid or incurred by the taxpayer in carrying on a trade or business of the taxpayer.

Refundable Credit : Refundable tax credits are called “refundable” because if you qualify for a refundable credit and the amount of the credit is larger than the tax you owe, you will receive a refund for the difference. For example, if you owe $800 in taxes and qualify for a $1,000 refundable credit, you would receive a $200 refund.

Refundable Tax Credit: Is a tax credit that is refunded to the taxpayer no matter how much the taxpayer's liability is.

Solar Tax Credit: Is a tax credit that can be claimed on federal income taxes for a percentage of the cost of a solar PV system paid for by the taxpayer.

Tax Bracket: The range of incomes taxed at given rates, which typically differ depending on filing status.

Tax Credit: Is an amount of money that taxpayers can subtract, dollar for dollar, from the income taxes they owe.

Tax Deduction: An item you can subtract from your taxable income to lower the amount of taxes you owe.

Work Opportunity Tax Credit (WOTC): Is a federal tax credit available to employers who invest in American job seekers who have consistently faced barriers to employment.


Guest Speaker

  • Chuck Borek

ATATX Credit

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in accounting.