CA$H Maine

Creating Assets, Savings & Hope

Three Numbers With a Big Impact!

Posted March 6, 2018

By Dottie Perham-Whittier, LA CA$H Co-Chair & Lewiston’s Community Relations Coordinator When hearing the words credit report and credit score, an individual may experience a sense of pride or, more commonly, think, “I don’t believe my credit score is what it should be.” For many, a pit-in-the-stomach fear ensues as to what those three numbers… Read more

Income Tax Return Photo

What is the Child and Dependent Care Credit (CTC)?

Posted October 31, 2016

A credit for the costs of care for a qualifying individual to allow you to work or look for work. The dollar limit on the amount of the expenses you can use to figure the credit is $3,000 for the care of one qualifying individual or $6,000 for two or more qualifying individuals. The amount of your credit is… Read more

Income Tax Return Photo

What is the Saver’s Credit?

Posted October 31, 2016

A credit to help low- and moderate-income workers, who have an adjusted gross income (AGI) that does not exceed $30,000 ($45,000 if head of household; $60,000 if married filing jointly), save for retirement. Find out more information about this credit here. Read more

Income Tax Return Photo

What is the Earned Income Tax Credit (EITC)?

Posted October 31, 2016

The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may… Read more

Income Tax Return Photo

Q. What is the Educational Opportunity Tax Credit (EOTC)?

Posted February 2, 2016

A. The EOTC can provide substantial savings for eligible Maine residents. If you graduated from a Maine college, and live and work in the state, then you may be eligible for a Maine income tax credit for student loan payments that you have made. You can find out more information about this credit here and… Read more