Tax Deductions
Is Child Support Taxable Income or Tax Deductible? No
Child support might be tax neutral, but it's rarely feelings neutral. Child support is tax neutral for both the paying and receiving parents. Child support…
No, There Is No First-time Homebuyer Tax Credit With the IRS
Yeah, the tax credit isn't real. Maybe Santa will bring us one. Oh, wait... Sorry, there is no first-time home buyer tax credit available, as…
What Every Parent Needs to Know About the Child Tax Credit (and the Update Portal)
Just because the monthly check is gone, the tax credit isn't. Parents should be aware that the Advance Child Tax Credit payments, which were monthly…
Funeral Expenses: Tax Deductible or Not?
Death and taxes might be certain, but funeral expense tax deductions are a little less so. Funeral expenses can be a substantial burden on families,…
The 2023 Child Tax Credit Payment Schedule: Only Annual Tax Credits (For Now)
If you're looking for a "payment schedule" to your child credit, well, the good news is there still is a child tax credit. The Child…
Advance Premium Tax Credit: How the Federal Government Can Help Individuals Pay for Health Insurance
The APTC does real good for families, but in a very IRS-meets-health insurance kind of way. Talk about two institutions who share a love of…
The Real Answer: “I’m a Single Parent: How Many Allowances Should I Put on My Form W-4?”
1 or 0? But the answer is, there's an art to doing your taxes. If you are a single parent with one child and are…
What’s the Non-Refundable Child and Dependent Care Tax Credit for and What Does It Mean for Working Families?
One more reason to love those adorable bundles of tax breaks. The non-refundable Child and Dependent Care Tax Credit is designed to ease the financial…
