Good morning, everyone! This is the Med City CPA, and I'm doing another two-minute video about a tax topic. This is my two-minute tax topic video. Today, we're going to talk about the Earned Income Tax Credit. But before we get started, please, for the love of God, subscribe. I'm trying to get this channel off the ground, and I would very much appreciate it if you just click "Subscribe." Okay, so what is the Earned Income Tax Credit? Essentially, in layman's terms, it is the government giving you a special credit on your taxes if you work and earn just enough to qualify, but not too much. So, it's enough to get your feet off the ground, but not enough to really take off. The government is just trying to help you out. So, like I said, do you have earned income? Are you within the income limits? There are some other basic rules. You have to meet the rules for those without a qualifying child, or if you have a child, they need to meet all the qualifying child rules. A crazy way of saying "with or without a qualifying child." You also need a social security number and a filing status. However, you cannot claim it if you're married filing separately. Sorry, you can't. That's about it. I'll include a link in the description below, but for 2017, it looks like the income limits were between $15,000 and $20,000. And you can't make anything more than $48,000 to $53,000. It phases out gradually. So, please, for the love of God, hit subscribe to stay updated with my two-minute tax topic videos, specifically towards the Earned Income Tax Credit. Thank you, and have a good morning.
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