How do you calculate your tax credit?

Our tax credit calculator shows how much of a tax credit you may qualify for based on your income and account contributions. It’ll also show how much more you’d need to save to earn the full tax credit amount.

You can log into your Embark account portal to see the total contributions you’ve made in a given tax year. All contributions you make before filing your taxes can count towards earning the previous year’s tax credit. And if you’ve made gift contributions to an Embark account, you can also claim the tax credit.

Keep in mind, your income determines how much you need to save to earn the tax credit. For example, if your Adjusted Gross Income is less than $30K per year, 100% of contributions count towards your credit. So by contributing $380, you can earn a $380 tax credit. If you make between $30K–$70K per year, 50% of your contributions count towards the credit. So by contributing $760, you can earn a $380 credit.