Does anyone have insight or details on how the monthly child tax credits will phase out for those at higher incomes?
For example, I believe it will be a different drop-dead income level for someone with, say, 1 child vs. 4.
A web site or brief calculation would be helpful if you have it.
Coupled with this is the concept of income management. I'm happy to do the heavy lifting to calculate marginal federal tax rates on an extra $1 of income based on this credit, which right now will expire at the end of 2021 but which is being proposed to continue through 2025, and long-term income shifting for those wanting to do Roth ladders and similar techniques.
Child tax credit - income management?
- RickBoglehead
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Re: Child tax credit - income management?
https://www.kiplinger.com/taxes/602334/ ... calculator
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Re: Child tax credit - income management?
It doesn't deal with advance payments, but the personal finance toolbox in Excel should make that lifting very light.
Re: Child tax credit - income management?
mmm......Must have gone to *ichigan.RickBoglehead wrote: ↑Wed Jun 02, 2021 11:18 am https://www.kiplinger.com/taxes/602334/ ... calculator
I find myself pained at providing assistance to a person that posts such an objectionable Avatar...