RELIABLE TAX SERVICE DOESN'T COST                        "IT PAYS"  TAX UPDATES For 2011 Child Tax Credit: Taxpayers can claim a tax credit for each dependent child under age 17 ( the credit is phased out when incomes exceed certain dollar thresholds). For 2011, the maximum credit is $1,000.00 per child. Dependent Care Credit: The amount of dependent care expenses eligible for the credit will be $3,000.00 for one eligible dependent, and $6,000.00 for more than one. The credit percentage will be from 20% to 35%. Educational IRA's: The annual limit on contributions to Education IRA's is $2,000.00 per child under age 18. The definition of eligible expenses that may be paid tax-free include elementary and secondary school expenses. IRA Contributions: The current limitation on contributions to an IRA is $5,000.00 for 2011.   An additional contribution can be made for individuals who are 50 or older by the end of the year. The additional amount is $1,000.00 for 2011 and beyond. Business Mileage for 2011 is $0.51 for January 1 to June 30 and $0.555 for July 1 to Dec. 31;  Charitable miles are $0.14; Medical and Moving miles are $0.19 January to June and $0.235 for July to December. Thing needed at Tax Time Medical Deduction: Medicines - prescribed by DR's Dr's, Dentist, Chiropractors not paid by insurance. Hospital, medical travel, Medical Insurance, eyeglases, contacts CO-Pay's and Insurance deductible Taxes: Real Estate, Personal Property, State Taxes Contributions: Church \ Sunday School Salvation Army, Goodwill United Way, any other Charitable Organization Interest: Home Mortgage, 2nd Mortgage Loans for Investment Purposes Miscellaneous Deductions: Union dues assessments Safety equipt. protective clothing Small Tools, Uniforms and cleaning Tax Return Fee, licenses, bonds Safety Deposit Box, Education Mileage for 2nd job, job 1 to job 2 Business and Professional expenses, Meals, Motels, Tolls, mileage for vehicle use Alimony paid, W-2's, 1099's for interest, dividends, business income, child care expense. If you sell Stocks bring when bought and how much paid and when sold and how much sold for. Gambling Loss up to Gambling Winnings. Unemployment, distribution from Pension plan Social Security received from all members of the household. All names on the tax return MUST MATCH names on Social Security Card.