Tag Archives: parents
Because of the changing state of the demographics throughout the nation, there’s a new type of dependent claim on the rise: Parents and adult children of middle-aged taxpayers. As a taxpayer, if you manage the daily care and financial support of one or more of your parents, and your parents can be classified as a […]
— Read moreIf a divorced couple has children, only one parent is eligible to claim any credits relating to the child. This means that one parent cannot claim the Earned Income Tax Credit, while the other claims dependency exemptions and credits. Typically, the custodial parent is eligible to claim the dependency exemption, the child tax credit, the […]
— Read moreIf you have children, you may be entitled to beneficial tax credits. There are a few credits that are specifically targeted towards parents, and can be extremely helpful when it comes to saving money or offsetting the costs of raising children. In most scenarios, you can claim your child as a dependent, including children just […]
— Read moreThis year, when you file your taxes, you may find that the government is willing to help offset some of the costs of financially caring for your parents. There a multiple ways that you can get tax assistance for parental support when you file your 2014 return. A new dependency tax care credit, along with […]
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