Tax season officially kicked off today, January 29, 2024. If you live in New York State, there are some tax credits and rebates you don't want to miss out on.

Photo by The New York Public Library on Unsplash
Photo by The New York Public Library on Unsplash

Parents In New York Are Eligible For The Empire State Child Credit

While it's not a huge amount of money, any little bit helps, right? Parents in New York can receive an Empire State child credit for dependent children who are younger than 17 years old on December 31, 2023. In order to qualify, you must not exceed certain income levels. The credit is $100 per child. You can find all of the details and the form to file here.

New York State Offers Child And Dependent Care Credit

Certain New Yorkers who paid for child and/or dependent care can claim this credit, which is in addition to the federal credit. If you qualify for the federal credit you also qualify in NY. The amount of the credit varies,

The credit is computed based on the amount of your New York State adjusted gross income, the number of qualifying persons, and the amount of qualified expenses paid.

You can find more info here.

Photo by Kindred Hues Photography on Unsplash
Photo by Kindred Hues Photography on Unsplash

Parents Of College Students Can Get Tax Credits In New York

If your child went off to college in 2023 or maybe you did, you can claim certain college-related credits. Certain qualified college tuition expenses can be deducted. Credits can range from $400 per eligible student to up to $10,000. Get more info here.

If You Bought A House You May Qualify For A STAR Credit

The STAR program helps New Yorkers offset their local school taxes,

The School Tax Relief (STAR) program offers property tax relief to eligible New York State homeowners.

The STAR program isn't something you will need to include on your tax return unless you itemize your taxes. You can find more information here.

More: Keep More Of Your Money With These Tax Credits In New York State

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Many Rebates Offered To New Yorkers For Efficiency Improvements

I've heard a lot of people complain about the new laws New York is putting in place to require electric vehicles and appliances, but there is a silver lining. There are quite a few rebates available.

- The NYS Drive Clean Rebate offers up to $2,000 off of the purchase price of a new electric vehicle. There are more than 60 vehicles that qualify. Get the details here.

- Businesses or others who installed charging stations may be eligible for the Charge Ready NY 2.0 rebate. The rebates are $2,000 or $4,000. You can find the details here.

- There are quite a few Home Clean Electricity Products that qualify for rebates, incentives, or credits in New York State, such as solar, ground source (geothermal) heat pumps, and cold-climate air source heat pumps. You can find more information here.

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8 Things You Think You Can Write Off On Your Taxes, But Can't In New York

Gallery Credit: Brett Alan

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