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✅ Tax Answer Friday
💡 It’s Tax Answer Friday — and here’s what you need to know:

Here are the answers to yesterday’s tax questions:

🔹 Can I still claim the Child Tax Credit if my income changed in 2025?
Yes. Eligibility is based on income and dependents. If your income dropped, you may now qualify or qualify for more. Check the updated details here:
🔗 https://www.irs.gov/credits-deductions/chi...

🔹 How do I check my IRS account balance and payment history online?
You can view your balance, payment history, and more by logging into your IRS online account:
🔗 https://www.irs.gov/payments/your-online-a...

🔹 Are business meals still 100% deductible in 2025?
No. The temporary 100% deduction expired. Most business meals are now 50% deductible. More info:
🔗 https://www.irs.gov/newsroom/irs-issues-gu...

🔹 Do I need to report payments received through apps like Venmo or Cash App?
Yes, if the payments were for business or services, they must be reported. Forms 1099-K may apply. Learn more:
🔗 https://www.irs.gov/businesses/understandi...

🔹 What’s the difference between a tax deduction and a tax credit?
Deductions reduce your taxable income, while credits reduce your actual tax owed. Credits usually have a bigger impact.
🔗 https://www.irs.gov/newsroom/tax-deduction...

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