Tax Credit

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Refundable credit that assists low-income Michigan households with winter heating costs.

Type: Benefit Amount: Average credit $200-$500; may exceed $1,000 for large households in high-cost zones Deadline: September 30 each year (Form MI-1040CR-7) Location: Michigan

Get Up to 35% Back on R&D Costs: Canada SR&ED Tax Incentive Guide (2025)

If your company spends time solving technical puzzles — the kind that require experiments, prototypes, or repeated trial-and-error — the SR&ED (Scientific Research and Experimental Development) program can put real cash back into your projects.

Amount: Refundable and non-refundable tax credits up to 35% of eligible expenditures for Canadian-controlled private corporations Deadline: Dec 31, 2025 Location: Canada

GST/HST credit - Overview - Canada.ca

Quarterly tax-free payments to help low- and modest-income Canadians offset the goods and services tax/harmonized sales tax they pay.

Type: Benefit Amount: Up to CAD $519 for singles, $680 for married/common-law couples, plus $179 per child (2024-25) Deadline: File annual tax return Location: Canada

Iowa Rent Reimbursement and Property Tax Credit

Refund program that returns a portion of property tax or rent equivalents to low-income Iowa seniors and people with disabilities.

Amount: Refund up to $1,000 based on property tax or rent paid and income Deadline: Submit online or paper claim by June 1 following the year rent or taxes were paid Location: Iowa

IRS Energy Efficient Home Improvement Credit: 30% Tax Credit Up to $3,200/Year

Federal income tax credit covering 30% of qualified energy-efficiency improvements including insulation, HVAC systems, windows, doors, and heat pumps. Annual limit of $1,200 plus $2,000 for heat pumps.

Amount: 30% of eligible expenses up to annual limits ($1,200 general cap plus $2,000 for heat pumps, heat pump water heaters, or biomass stoves/boilers) Deadline: Apr 15, 2025 Location: United States

IRS Residential Clean Energy Credit: 30% Tax Credit for Solar, Battery, and Geothermal Systems

30% federal tax credit for qualified solar panels, battery storage, geothermal heat pumps, and other renewable energy upgrades. No annual dollar cap, carries forward unused credits.

Amount: 30% of eligible project costs with no annual dollar cap Deadline: tax filing deadline Location: United States

IRS Saver's Credit: Up to $1,000 Tax Credit for Retirement Contributions

Federal income tax credit that rewards low- and moderate-income taxpayers for contributing to retirement accounts. Credit worth 10%, 20%, or 50% of contributions up to $2,000 per taxpayer.

Amount: Nonrefundable tax credit worth 10%, 20%, or 50% of up to $2,000 in contributions per taxpayer Deadline: Apr 15, 2025 Location: United States

IRS Small Business Health Care Tax Credit

Helps eligible small employers offset the cost of providing health insurance through the SHOP Marketplace.

Type: Tax Credit Amount: Up to 50% of employer-paid premiums (35% for tax-exempt employers) for two consecutive tax years Deadline: Claimed on annual tax filings; employers must purchase coverage through SHOP to qualify Location: United States

IRS Work Opportunity Tax Credit (WOTC)

Federal tax credit for employers that hire individuals from targeted groups facing barriers to employment. Available for hires who begin work on or before December 31, 2025.

Type: Tax Credit Amount: Up to $9,600 per eligible new hire depending on target group, wages, and hours worked Deadline: Complete IRS Form 8850 on or before the day a job offer is made; submit to the state workforce agency within 28 days of the employee’s start date Location: United States

Kansas Homestead Refund Program

Refundable Kansas income tax credit that returns a portion of property taxes or rent equivalents to low- and moderate-income homeowners and renters.

Type: Benefit Amount: Refund up to $700 for standard Homestead, up to $1,000 for SAFESR senior freeze refunds Deadline: File claim Form K-40H (or K-40PT for SAFESR) by April 15 following the tax year Location: Kansas