Career news, advice, opportunities, and conversations about working and building a career in tax, law, accounting, and related fields.
Parents like me could be in store for a surprise this year. The new tax law, the Tax Cuts and Jobs Act, has a few changes for parents and those who claim dependents. First, there are no more personal exemptions. Personal exemptions are used to decrease your taxable income before you determined your tax. You…
Under the tax reform bill, the existing child tax credit has been expanded. Here’s what the new child tax credit – with a refundable portion – looks like and who can benefit.
If your family is anything like mine, with school out, summer becomes a whirlwind of vacations and summer camp – especially for working parents who depend on summer camp for child care. Fortunately, expenses associated with summer camp may result in a tax break in the form of the child care credit so long as they are work-related. Follows are 12 tips for claiming summer camp expenses on your taxes.
Taxes from A to Z: Q is for QDRO
When is enough, enough? At what age can parents legally stop paying expenses for their children? Two New Jersey children took their parents to court this year to find out.