Make sure to apply for money-saving tax credits

Last week I joined with Mayor Kathy Sheehan at Albany City Hall as we discussed important programs to help hardworking families put more money in their pockets and households using an interesting tool – their money and their taxes!Nobody likes paying taxes, but without them we wouldn't have public schools, firefighters, safe roads and a host of other important programs and benefits for hardworking New Yorkers. That said, there's no reason to pay more in taxes than you have to. As you prepare your return, keep in mind that there a re a number of tax credits that can help put more money back in your pocket.

Here are some money savers:• the Empire State Child Credit, a refundable tax credit worth up to $330 per child for ages 4-16;• the Child and Dependent Care Credit, a tax credit based on a sliding income scale for working parents who pay for child care or those who live with a spouse or dependent who is physically or mentally incapable of self-care;• the federal Child Tax Credit, a non-refundable tax credit of up to $1,000 per child under the age of 17, or the refundable Additional Child Tax Credit;• the Real Property Tax Credit, a refundable tax credit worth up to $375 for eligible homeowners and renters.

Workers with low or moderate incomes can qualify for the federal and state Earned Income Tax Credit (EITC), recouping portions of the income tax withheld from their paychecks.

To qualify for the New York State and federal EITC, you must:• have worked full or part time at some point during the calendar year;• be raising "qualified" children at home;• have income below $39,131 ($44,651 if married) with one child;• have income below $44,454 ($49,974 if married) with two children;• have income below $47,747 ($53,267 if married) with three or more children; or• be a worker between the ages of 25 and 65, earning less than $14,820 ($20,330 if married) with no children.For more information on any of these credits, visit tax.ny.gov.Preparing your taxes can be overwhelming. Free assistance is available if you need help. The IRS-certified volunteers with the Volunteer Income Tax Assistance (VITA) program provide free tax preparation services to individuals and families with annual incomes of $54,000 or less, people with disabilities, the elderly and those with limited English skills. For those 60 years of age and older, the Tax Counseling for the E lderly (TCE) program can also provide assistance at no cost to you. To find the nearest VITA or TCE site, visit irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers or call 800-906-9887.And, as always, please feel free to contact me about this or any other community issue at 518-455-4474 or at mcdonaldj@assembly.state.ny.us

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