Dependent | The TurboTax Blog

How Changes in Your Life Can Save You Money

September 18, 2017September 18, 2017 / TurboTaxLisa

Whether you got married this year or are purchasing your first home, changes experienced in your life can bring about many questions and uncertainties. Although you may have questions about how life events affect your finances, one thing is certain,...

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Family

Can I Write Off My Grandparent as a Dependent?

September 10, 2017September 10, 2017 / Ginita Wall, CPA, CFP®

Grandfather Carries Grandson On Shoulders During Walk In Park

Mothers Day and Fathers Day have come and gone, and this week we get the granddaddy of them all: it’s National Grandparents Day! That’s worth celebrating – after all, where would any of us be without them? Making it through...

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Family

Who Can I Claim As a Dependent?

August 11, 2017August 11, 2017 / TurboTaxLisa

The question “Who can I claim as my dependent?” has remained a confusing topic for many taxpayers and an area where tax deductions are often missed or misstated on tax returns. Did you know you may be able to claim...

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Tax Deductions and Credits

Can I Claim My Girlfriend or Boyfriend as a Dependent?

August 1, 2017August 1, 2017 / Jim Wang

Are you living with your girlfriend or boyfriend? Have you ever wondered whether or not you could claim him or her on your tax return as a dependent? Like many things in life, it depends. Even if it feels like...

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Family

Is This Tax Deductible? My Child’s Summer Camp

May 2, 2017May 2, 2017 / Ginita Wall, CPA, CFP®

Ah, good old summertime – what a wonderful relaxing time of the year. Unless you have kids, of course, in which case there’s a whirlwind of activity in your house as soon as school is out. But then comes the...

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Family

Can You Claim a Parent as a Dependent?

February 27, 2017February 27, 2017 / Philip Taylor

For that time in a person’s life when he or she begins to take care of their parent, its important to know that the IRS allows those individuals to claim their parents as dependents on their tax return. As is...

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Tax Deductions and Credits

FSA 101 – FSA Basics

February 24, 2017September 7, 2017 / Ginita Wall, CPA, CFP®

If you work for a big company, chances are you have a Flexible Spending Arrangement plan available through work. If so, do you have any idea how they work? Many employees learned all they know about FSA plans from other...

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Tax Tips

Can I Claim My Pet as a Dependent?

February 20, 2017September 8, 2017 / TurboTaxBlogTeam

Some people consider pets are a lot like children. They’re cute, loving, playful, attention-craving, and they can’t wait for you to get home. They also poop, pee, whine, ignore your commands and break stuff. (Hey, it’s not all lovey-dovey!) Like...

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Family

Your New Baby Can Bring You Joy and Savings

February 13, 2017February 15, 2017 / Jeremy Vohwinkle

Cropped shot of a young mother and her little baby girl at home

There are no words that can describe the feeling of becoming new parents. The happiness a new baby brings into a family is a wonderful thing. However, the cost of having a child can be a shock to new parents....

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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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