dependents Archives

Do you qualify for “head of household” tax filing status

Apr 10, 2025 | Individuals

Only certain people can file a tax return with the favorable “head of household” status. Here are the rules.

Financial relief for families: The benefits of the Child Tax Credit

Apr 3, 2025 | Individuals

The Child Tax Credit is critical for many families. But, many taxpayers will see the credit cut in half in 2026 if Congress doesn’t act.

The adoption tax credit: Easing the financial journey of parenthood

Feb 13, 2025 | Individuals

Adopting a child can be expensive. Fortunately, the adoption tax credit may be available for many parents to take advantage of.

Saving for college: Tax breaks and strategies your family should know

Jan 16, 2025 | Individuals

There are some tax-savvy ways to build education savings and pay for college. Here’s how to help maximize education funds.

Unlock your child’s potential by investing in a 529 plan

Jan 2, 2025 | Individuals

College costs have gone up sharply, so starting to save early is a smart move. One option is to invest in a tax-advantaged 529 plan.

The nanny tax: What household employers need to know

Nov 14, 2024 | Individuals

In 2024, if you pay a household worker cash wages of $2,700 or more, you must withhold and pay nanny tax. What will the threshold be in 2025?

Six tax issues to consider if you’re getting divorced

Jul 25, 2024 | Individuals

Getting a divorce can be an agonizing process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are six issues to consider if you’re getting a divorce.

You may be entitled to tax breaks if caring for an elderly relative

Jun 6, 2024 | Individuals

If you’re caring for an elderly relative, you may be entitled to some tax breaks. Here are four of them.

Filing jointly or separately as a married couple: What’s the difference?

Apr 25, 2024 | Individuals

Is it better for a married couple to file a joint tax return or file separately? It depends. Here’s a look at the issue.

New option for unused funds in a 529 college savings plan

Mar 14, 2024 | Individuals

It’s not unusual for parents to end up with unused funds in their children’s 529 college savings plans. There’s a new option that allows them to transfer unused funds in a 529 plan to a Roth IRA. Here are the details.

dependents