It’s important to know who qualifies for a dependency exemption, because for each exemption you can claim a $3,900 deduction on your 2013 tax return ($3,950 for 2014). Here are some rules that will help you figure out who qualifies and who doesn’t.
The deadline to file your tax return is coming up fast, but that doesn’t mean you can’t make sure you’re getting all the tax benefits you deserve. For busy parents who are crunched for time, I’ve compiled a list of tax credits and exemptions that can help as you prepare your taxes.
It is increasingly common for adult children to take care of their elderly parents. When such support begins to become both financial and significant, many wonder whether a tax break might be available to help offset some of the expenses. Here are some of the key considerations to determine if you can claim your parent as a dependent.
Did you have a baby this year? If so, congratulations on the little tax deduction! Fortunately, along with your new baby, your family is now eligible for new tax deductions as well. Don’t overlook the tax advantages that come when you add a new member to your family.
Congratulations on graduating college! Now that you’re done with school and ready to embark on life in the “real” world, it’s a good idea to get a handle on your tax situation. Here are 4 things you need to know about taxes as a college grad.
Becoming parents has been the biggest joyful change in our lives. While she’s still young, there are plenty of things we are doing to teach her and help her with, including finances. As I mentioned before, you can start early with getting your children to be super savers.
It was the answer my parents had to the age old question: What do I do with my kids? If you have kids, this might be something you’re struggling with. This is especially important if you are a parent that works or you are deciding whether to enter the work world in the summer. One way that you can improve your peace of mind — and possibly even save money — is by sending your child to a day camp.
Becoming parents has changed our lives for the better, financially and otherwise. Even though she’s tiny now, we’re imagining how she’ll grow in the years to come. For example, one of the goals we have is to have our little one be financially savvy with her money when it comes time for her to move out of our home. Here are some ways parents have successfully gotten their kids into saving their money.