Disposable Income = Gross Income - Taxes. So, lets say that your monthly gross income is $4,500, and $1,200 a month is subtracted for various taxes: $4,500 Gross Income - $1,200 Taxes = $3,300 Disposable Income. Disposable income is money that needs to cover food, shelter, clothes, non-essential purchases, savings, etc.
Ten Facts about the Child Tax Credit. IRS Tax Tip 2011-29, February 10, 2011. The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income. Here are 10 important facts from the IRS about this credit and how it may benefit your family.
---. Child Tax Credit Phone Number â Overview. People responsible for children under the age of 16 are eligible for child tax credit, irrespective of whether they are working or not. For each child under 16, the household gets a monthly sum of about Â£545, which could increase depending on your circumstances. You can contact the Child Tax Credit Phone Number at HM Revenue and Customs â Tax Credit Office, Preston, PR1 4AT. About Child Tax Credit Services. Often, households with children are not able to fully support their children.