Every year, I wait until about two weeks before the tax deadline to file. No, it's not that I'm lazy or procrastinating. It's that I usually owe some money and I prefer to wait until close to the deadline to pay Uncle Sam.

Tax season officially kicked off today, Monday, January 29, 2024. Before you file or hand things over to your tax preparer, make sure you are familiar with all the credits you might qualify for in New York State.

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What Tax Credits Can New York Residents Take?

While there are too many to list here, I'll drop some of the most frequently used. You definitely shouldn't leave any money on the table. If you receive any type of benefits or assistance, you can likely apply for tax credits without voiding your eligibility (check with a tax professional to be 100 percent sure).

In most cases, claiming tax credits does not affect eligibility for benefits like the Food Stamp Program (SNAP), Supplemental Security Income (SSI), Medicaid, Temporary Assistance for Needy Families (TANF), or public or subsidized housing. These credits are not considered income when determining eligibility for these programs, but they may be counted as a resource for some programs if the money is not spent within a certain time frame.

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The Internal Revenue Service has an online tool to help you get the status of your tax return once you file it via the Where’s My Refund? tool on IRS.gov.

New York State Offers Residents And Small Businesses A Variety Of Tax Credits For 2023

- Child and dependent care credit (NYS) or (NYC)
Child care creation and expansion credit (For businesses)
- Clean heating fuel credit
- College tuition credit
- Earned income credit (NYS) or (NYC)
- Empire State child credit
Empire State digital gaming media production credit
- New York State household credit
Long-term care insurance credit (For individuals and businesses)
- Low-income housing credit (For businesses)
- New York City credits
- New York Youth Jobs Program tax credit (For businesses)
- Noncustodial parent earned income credit
- Real property tax credit
Solar Energy System Equipment Credit
- STAR credit
- Volunteer firefighters and ambulance workers' credit
- Workers with disabilities tax credit (For businesses)

See A Full List Of New York State Tax Credits Here

***This article is not intended to provide any legal or tax advice. Please see a professional with any questions or concerns.

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Gallery Credit: Brett Alan