Tax Deductions
Child and Dependent Care Tax Credit Offers Benefits and Care for Caregivers
The Child and Dependent Care Tax Credit is a beneficial tax credit provided by the US government to assist families who have dependents that require…
The CTC’s Growing Up: Highlights and Overview of the Child Tax Credit and How the CTC Works
My, how these child tax credits grow! Filing your taxes in 2021, 2022, and 2023 are very different years. (Fingers crossed that the CTC gets…
Adoption Tax Credit and the Benefits of Qualified Adoption Expenses
Overview of Adoption Tax Benefits This credit seems pretty direct, but a lot of paperwork. Then again, if you're adopting a kid, the paperwork's not…
Can I Deduct My 529 Contributions on My Federal Tax Returns?
Definition of 529 Contributions I think I might start a 529 just for the tax benefit! A 529 plan is an educational savings plan that…
How Long Can You Claim a Child as a Dependent?
Claiming your child as a dependent can provide significant financial benefits, including tax credits and deductions. However, as your children grow older and start to…
Can I Claim my Adult Child as a Dependent?
Parents who have adult children who still depend on them financially may wonder if they can claim them as dependents on their tax returns. In…
2022 Federal Income Tax Brackets, Rates, & Standard Deductions
What are tax brackets? The United States has what is called a progressive income tax system, meaning the greater your income, the more you pay.…
Tax Preparation Tips for Filing Your 2021 Return in 2022
Get Ready to File Your 2021 Federal Tax Return By April 18, 2022 The 2022 tax filing season us coming up, so it’s time to…
