New York State Volunteer Firefighters and Ambulance Workers Tax Credit: A Financial Boost for Local Heroes
In the great state of New York, community heroes are often found among us, serving as volunteer firefighters and ambulance workers. Recognizing their invaluable service, New York offers a special tax credit to show appreciation for these brave individuals. At Puma Accounting Tax Pros, we believe it's essential to shed light on this tax credit and help eligible individuals make the most of it.
Eligibility Criteria:
To be eligible for the New York State Volunteer Firefighters’ and Ambulance Workers’ Credit, you must meet two simple criteria:
Active Volunteer: You must have actively served as a volunteer firefighter or volunteer ambulance worker at any time in the tax year. Your dedication to safeguarding your community makes you eligible for this credit.
A resident of New York State: You must be a resident of the state of New York. This credit is designed to benefit those who contribute to the safety and well-being of their local communities within the state.
Exemptions:
It's important to note that you cannot claim this credit if you already receive a real property tax exemption related to your volunteer service. However, there's a silver lining for those with shared property ownership. If your property has multiple owners, and your volunteer service wasn't the basis for the exemption, you may still be eligible to claim the credit.
Credit Amount:
Now, let's talk about the financial aspect of this credit. The New York State Volunteer Firefighters’ and Ambulance Workers’ Credit is worth $200. For those who are married and file joint tax returns, and both spouses are eligible volunteers, the credit doubles to $400. This extra incentive recognizes the commitment of families who volunteer together to ensure their community's safety.
What Makes This Credit Special:
What sets this credit apart is that if it exceeds your total tax liability for the year, any excess amount will be refunded to you, without interest. In essence, this credit isn't just about reducing your tax bill; it can put money back into your pocket. This financial benefit can be a well-deserved reward for your selfless service to your community.
At Puma Accounting our Tax Pros, don’t want you to miss out on this credit if you meet the eligibility criteria. Don't miss out on this opportunity to receive a credit of up to $400 for your dedication to keeping your community safe. We encourage all eligible individuals to explore this credit and ensure that you receive the financial recognition you deserve for your volunteer service.
