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Family

Back to School Savings for Families

August 2, 2016August 2, 2016 / Elle Martinez

With another school year starting soon, many families are hitting the stores to go back to school shopping. Before you head out the door or go online, make sure you are armed with two basics things: a list of what you need...

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Family

Happy National Parents Day! Tax Benefits to Help Parents Save Money

July 22, 2016July 22, 2016 / Jim Wang

Stocksy_txp8d8169ebCY4100_Medium_696418 (1)

Did you know July 24 is National Parents Day? It falls on the 4th Sunday each July, and was established by the US government in 1994, as a way of “recognizing, uplifting, and supporting the role of parents in the rearing...

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Family, Health Care, Home

Life Happens—But That Doesn’t Mean You Don’t Have Health Insurance Options

May 19, 2016 / TurboTaxBlogTeam

Cute baby girl at the doctor's with her mother.

Life can move a mile a minute, and as we all know, changes can sneak up on us. Whether they are expected or not, one thing we know for sure is if we experience big life changes we have health...

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Family

What is the Personal Exemption?

February 23, 2016 / Ginita Wall, CPA, CFP®

A personal exemption is a threshold of income that is not taxable to you, and it is subtracted from your total income in computing the amount that is taxable. One personal exemption is allowed for you and everyone in your...

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Family

National Wedding Month: Tax Tips for Your New Marital Status

February 12, 2016 / Elle Martinez

Congratulations to all you newlyweds! With this new chapter, many opportunities will begin open up as the two of you work together on your dreams. While not as exciting as planning your lives together, filing your taxes jointly can be a way...

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Family

TurboTax Dependents Credits and Deductions Calculator

January 27, 2016January 27, 2016 / turbotaxjen

Questions about dependents are one of the top questions taxpayers have. With the TurboTax Dependents Credits & Deductions Calculator, just answer a few simple questions about your kids and you’ll find out if you can claim them and what dependent credits...

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Family

School’s Out for the Holidays! How Holiday Daycare Can Save You on Your Taxes

December 17, 2015September 7, 2017 / Jim Wang

The holidays are usually a welcome time of year… unless you have children and need someone to watch them! If you have pre-school aged children, your regular care will be just fine. But if they’re between five and 12, where...

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Family

Welcoming a New Addition? Tax Deductions Available When Adopting

November 19, 2015September 7, 2017 / Jim Wang

Asian father, feeding milk to a 10-day-old newborn baby girl

Adoption can be an incredibly expensive, but an incredibly rewarding, undertaking. Fortunately, the IRS offers two tax breaks for adoption and each is quite generous. You can take either the adoption credit, which will result in a direct reduction of...

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Family

Is This Tax Deductible? Care-taking for a Parent

November 10, 2015August 23, 2016 / Ginita Wall, CPA, CFP®

Grandmother eating cake on her 80th birthday with grand children.

Remember when you thought that once the children were grown and gone, your caregiving days would be over? If you find yourself now looking after aging parents, you realize that isn’t necessarily true. There are three tax benefits from caring...

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Family

Who’s My Dependent and Will They Save Me Money at Tax-Time?

July 23, 2015 / TurboTaxBlogTeam

Did you just have a baby? Are you taking care of a family member? Then you may be able to get a dependent exemption worth $4,000 (this adjust up every year) for each dependent when you file your 2015 taxes....

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