Shopping Cart
Your Cart is Empty
Quantity:
Subtotal
Taxes
Shipping
Total
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

Kapital Accounting Solutions, P.A.

Failure is not an option!

My Blog

Blog

IRS Reminds Parents of Ten Tax Benefits

Posted on January 24, 2012 at 12:43 PM
Your kids can be helpful at tax time. That doesn't mean they'll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits. Here are ten things the IRS wants parents to consider when filing their taxes this year.
 
1. Dependents - In most cases, a child can be claimed as a dependent in the year they were born.
 
2. Child Tax Credit - You may be able to take this credit for each of your children under age 17. If you do not benefit from the full amount of the Child Tax Credit, you may be eligible for the Additional Child Tax Credit.
 
3. Child and Dependent Care Credit - You may be able to claim this credit if you pay someone to care for your child or children under age 13 so that you can work or look for work.
 
4. Earned Income Tax Credit - The EITC is a tax benefit for certain people who work and have earned income from wages, self-employment or farming. EITC reduces the amount of tax you owe and may also give you a refund.
 
5. Adoption Credit - You may be able to take a tax credit for qualifying expenses paid to adopt an eligible child. If you claim the adoption credit, you must file a paper tax return with required adoption-related documents.
 
6. Children with earned income - If your child has income earned from working, they may be required to file a tax return.
 
7. Children with investment income - Under certain circumstances a child's investment income may be taxed at their parent's tax rate.
 
8. Higher eduacation credits - Education tax credits can help offset the costs of higher education. The American Opportunity and the Lifetime Learning Credits are education credits that can reduce your federal income tax dollar-for-dollar.
 
9. Student loan interest - You may be able to deduct interest paid on a qualified student loan, even if you do not itemize your deductions.
 
10. Self-employed health insurance deduction - If you were self-employed and paid for health insurance, you may be able to deduct any premiums you paid for coverage for any child of yours who was under age 27 at the end of the year, even if the child was not your dependent.
 
For any additional questions you may have, call Capital One Accounting Solutions, P.A. at 954-612-1591 for a free consultation.
 
 
 

Categories: Tax information

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

18 Comments

Reply best tours to china
7:39 PM on May 16, 2013 
The root of your writing while sounding {agreea
Reply the package tours
11:51 PM on May 16, 2013 
After research a few of the weblog posts on your website now, and I truly like your way of blogging. I bookmarked it to my bookmark web site record and might be checking back soon. Pls check out my website as properly and let me know what you think.
Reply replica watches
3:44 AM on July 10, 2013 
9. Student loan interest - You may be able to deduct interest paid on a qualified student loan, even if you do not itemize your deductions.

10. Self-employed health insurance ded
Reply Thenew Celine Crossbody bags for Autumn of past years ANYA HINDMARCH
3:39 PM on July 17, 2013 
what you achieve was decide d by how the temper what you watch the seven seas .The include the definitely fascination , ensure that you get the casual mould . and many excellent perfect python skin texture is as the gifts content every men and women 's need . it may lure people 's hand . a great occupation can let a ugly workers possess the charm
Reply Replica Watches
12:19 PM on September 9, 2013 
On occassion, you may receive your missing W-2 after you file your return using Form 4852, and the information may be different from what you reported on your return.
Reply IRS bank levy in california help
12:26 PM on February 15, 2014 
i read lots of blogs but honestly speaking i found your blog like RS Reminds Parents of Ten Tax Benefits are very interesting and informatics.keep it up
Reply gg
3:17 AM on May 2, 2019 
g
Reply Mack A. Tibbits
8:03 AM on August 28, 2019 
your team will solve it before you by setting you as an example. As time goes and your experience adds will make you a strong leader in a business empire Click Here To Know More.
Reply uk essay
12:48 PM on October 28, 2019 
Thanks a lot for the kind of perfect topic I have not a lot of information about it but I have got an extra unique info in your unique post.Perfect description you have provided thanks for sharing.
Reply is lauren daigle married
1:50 PM on January 8, 2020 
Learn everything about Lauren Daigle, her biography and Lauren Daigle career and controversies in the latest public interview.
Reply droidvpn premium apk
2:06 PM on January 8, 2020 
Want to know how to make use & Download DroidVPN Premium APK with free Account? We explain how to use & download DroidVPN Premium APK free on your device.
Reply brennan elliott cami elliott
2:18 PM on January 8, 2020 
Here is everything you need to know about Cami Elliot. Learn all about the wife of Brennan Elliot and some interesting facts.
Reply www worldstarhiphop com mobile
2:37 PM on January 8, 2020 
Here is your exclusive list of best five alternative sites to WorldStarHipHop which will provide you similar music experience.

Reply pizza near me open
2:45 PM on January 8, 2020 
Finding the pizza places near me is not hard but locating the best pizza restaurants is always difficult. Let’s use the following search option,
Reply Ricky Peter
12:35 PM on January 21, 2021 
I Was Eagerly Looking For Content Like This, Right To The Point And Detailed As Well Accordingly
https://vjackets.com/ Depending Upon The Matter/Topic. You Have Managed This Greatly For Sure.
Reply smith
12:54 AM on December 2, 2021 
You site is very attractive for every one because you have amazing content on you site. I found good content as mumtaj blog. There are lots of good site, but some are good. Your site is one of them.
Reply Jack
1:08 AM on December 2, 2021 
I have been searching for this types of blog. This well written blog. I have read your blog many time and bookmarked you site. I was searching for Mcdonald's Menu Prices India then I found your blog. It is really interesting.
Reply jacki
3:19 AM on July 5, 2022 
Hello This is really what I was looking for. An obligation of appreciation is for sharing this unprecedented Irma Vep Adria Arjona Fur Coat Information That is an incredibly interesting smile. I love scrutinizing and I am ceaselessly searching for instructive information like this You bookmarked.are