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Claiming a Non-Citizen Spouse and Children on Your Taxes
When your spouse and children are U.S. citizens, claiming them on your taxes is simple: just provide their names and Social Security numbers. When they're non-citizens, though, things may be a little more complicated. But you can still claim them—and reap the tax benefits of doing so. Read more…
Death in the Family
The IRS demands a final accounting, and it's up to the executor or survivors to file the paperwork. Here's what you need to know about the deceased's final tax return, reporting income and deductions, inheritance and more. Read more…
Tax Deductions for Funeral Expenses
If you paid for funeral expenses during the tax year, you may wonder whether you can deduct these costs on your federal income tax return. According to IRS regulations, most individuals will not qualify to claim a deduction for these expenses. However, an estate might be able to deduct these and other types of expenses. Read more…
7 Requirements for the Child Tax Credit
The Child Tax Credit can significantly reduce your tax bill if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all seven to claim this tax credit. Read more…
The Ins and Outs of the Child and Dependent Care Tax Credit
If you are paying someone to take care of your children or another person in your household while you work, you might be eligible for the child and dependent care credit. This credit "gives back" a portion of the money you spend on care, and can reduce your tax bill by hundreds or even thousands of dollars. Read more…
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