Children’s Fitness Tax Credit

100_9013-webSince 2012, families have been claiming a Children’s Fitness Tax Credit (CFTC) to a maximum of $500 per year providing a tax savings of up to $75 per eligible child.  The CFTC was a non-refundable credit, so low income families that did not pay taxes received no benefit from this credit.  The government announced that effective for the 2014 tax year, the CFTC will be doubled to $1,000 per child and in 2015 it has become a refundable credit to assure that all eligible families receive the benefit.