Family Tax Tips | The TurboTax Blog

Tax Planning

Do You Financially Support Your Family Living Abroad? See if You Qualify for any Deductions on Your Income Tax

February 10, 2020 / TurboTaxBlogTeam

Family ties are so strong that our love thrives despite any distance between us. That’s why we’ll always be willing to help them out; it doesn’t matter where they are located. Sometimes we’ll mail them packages stuffed with gifts and...

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Tax Deductions and Credits

Multigenerational Families: Top Family Tax Deductions and Credits You Should Not Miss

January 10, 2020 / Elle Martinez

This post can be found en Español here. For practical, cultural, and personal reasons, more families are living in multi-generational homes. According to an analysis of Census data, over 60 million Americans share a roof with their families. While having...

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Family

Who Can I Claim As a Dependent?

November 13, 2019 March 20, 2020 / TurboTaxLisa

Under tax reform, you can no longer claim the dependent exemption — which was $4,050 for tax year 2017 — but you still need to know who qualifies as your dependent for other tax benefits like the Child Tax Credit...

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Family

Is My Child’s Summer Camp Tax Deductible?

May 29, 2019 July 23, 2019 / 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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Tax Reform

Tax Reform 101 for Families

September 25, 2018 July 22, 2019 / TurboTaxBlogTeam

The new tax reform law that was signed into law on December 22, 2017, changed taxes for the majority of taxpayers beginning in tax year 2018(the taxes you file in 2019). How Are Families Impacted? The following infographic provides a...

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Education

Spent Too Much Getting Your Dorm Ready? 4 Savings to Help College Students (or Parents)

September 18, 2018 July 24, 2019 / Jim Wang

With a new college school year underway, it’s comforting to know that you could get some help from Uncle Sam in dealing with the blizzard of college-related expenses that are hitting. The IRS provides a number of education tax credits...

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Tax Reform

Tax Reform 101: What You Should Know About Changes to the Moving Expense Tax Deduction

June 7, 2018 July 24, 2019 / Ginita Wall, CPA, CFP®

Are there moving boxes in your future? Summer is a popular time to move and many are moving miles away to take a new job. If that’s you, congratulations on embarking on your new adventure! Here are a few things...

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Deductions and Credits

How Will a Big Move Across the Country Affect My Taxes?

December 19, 2017 July 24, 2019 / Elle Martinez

The article below is up to date based on the latest tax laws. It is accurate for your 2017 taxes, which you will file by the April 2018 deadline. Learn more about tax reform here. I was still in college when...

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Income and Investments

7 Ways to Save When Your Family Goes to the State Fair

July 10, 2017 July 12, 2019 / Elle Martinez

With summer in full bloom, many states are ramping up their annual fairs. These family friendly events can be a wonderful way to enjoy the local culture, try out new rides, and of course, eat a ton of food. Before...

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Deductions and Credits