Below are some of the credits discussed in the reading: Credits available for individuals include the following: adoption credit American opportunity tax credit child and dependent care credit child tax credit earned income credit lifetime learning credit premium tax credit residential energy credit Credits available for businesses include the following: credit for increasing research activities employer-provided childcare credit energy credit rehabilitation credit small employer health insurance credit work opportunity credit select one credit from each category (that is, one for individuals and one for businesses) that you would like to explore in-depth. For each selected credit, complete the following: Describe how the credit works, including requirements, eligibility, and income limitations. 

Explain the purpose of providing the credit and whether you believe that the credit is accomplishing its intended goal. Provide recommendations to improve the function of the credit moving forward.

Answer rating: 100% (QA)

Lets explore one credit for individuals and one for businesses in depth Individuals American Opportunity Tax Credit AOTC How the Credit Works The Amer... View the full answer