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May 9th, 2008

Fix the Tax Code Friday: Child Related Exemptions and Credits

It’s the return of Fix the Tax Code Friday!
Since there’s been some discussion on the blog lately about whether or not parents should receive tax “benefits” in the form of exemptions and credits, I thought I would make it the Fix the Tax Code Friday question:
Should parents be entitled to exemptions and credits to offset […]

By Kelly -- 15 comments

May 7th, 2008

The Child and Dependent Care Credit Sucks (Or How You Can Tell That Congress is Full of Men)

I spent the better part of the day working on my personal taxes (I know, I know). We’re on an extension - we’re always on extension.
The thing about doing my own taxes is that it reminds me of all of the stupid tax rules out there - you know, the ones that were either […]

By Kelly -- 12 comments

April 14th, 2008

Ask the taxgirl: Childcare Providers and TIN

Taxpayer asks:
My childcare provider says that she doesn’t know her TIN? but she has her state G.E. tax license number. She doesn’t want to give me her social security number, which is understandable, but I do want credit for this expense. What can I, or should I, do?
When I plugged in the […]

By Kelly -- 0 comments

February 28th, 2008

9 Child-Related Tax Breaks That You May Be Overlooking

In recent weeks, I’ve received a flurry of emails from parents asking about whether band uniforms, soccer cleats and other expenses related to children are deductible. I thought it might be useful to have a checklist of some child-related deductions that you may be overlooking.
1, Child tax credit. If your modified AGI (adjusted […]

By Kelly -- 0 comments

February 25th, 2008

Ask the taxgirl: Private school tuition

Taxpayer asks:My daughter attends an independent private elementary school. We pay around $10,000 a year in tuition. Is it deductible?
Taxgirl says:
Thanks for writing.
This is actually one of my pet peeves in tax policy. You don’t get a break for paying for private school tuition: if you pay for private or parochial school, no […]

By Kelly -- 7 comments