First Elite Insurance, LLC

Flood Fact: About 25% of all flood claims come from moderate- to low-risk areas, which means you don't have to live in a high-risk zone to be affected.
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352-245-8568

Don't Fret !!! You can enroll in Marketplace health coverage through August 15 due to the coronavirus disease 2019 (COVID-19) emergency. More people than ever before qualify for help paying for health coverage, even those who weren’t eligible in the past. Learn more about new, lower costs.

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(352) 245-8568
5425 SE 111th Street
Belleview, FL 34420

Our Certified Agents are ready to Assist!!!

Our agents are ready to assist!! give us a call or stop in:

352-245-8736
5425 SE 111th Street
Belleview, FL 34420

Other Dependent Tax Credit – Did You Know?

If you have a dependent who does not meet the criteria for the Child Tax Credit (CTC), you may still qualify for a $500 credit called the Other Dependent Credit. Examples of qualifying dependents include children of age 17 or 18 (or up to age 23 if they are full-time students), and adult relatives who are unable to support themselves due to a disability.

Your claimed dependents must be US citizens, resident aliens, or nationals, and must have a taxpayer ID number (SSN or ITIN). Children must not have been claimed for the CTC by you or anyone else, must rely on you for at least half of their financial support, and generally must live with you for over half the year. Claimed adult dependents (called “qualifying relatives” by the IRS) must have a gross income of less than $4,300 for 2020, and must either be your true relative or live with you full time. The term “true relative” covers a broad range of relationships, including in-laws and stepchildren.

A qualified tax advisor can help you determine your eligibility for the Other Dependent Credit. If you have more than one qualifying dependent, you may be able to take the credit for each of them.