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If Your Child’s Investment Income is Greater Than $1,900 in 2010 It May Be Taxable at Your Tax Rate

Children with investment income may have part or all of this income taxed at their parents’ tax rate rather than at the child’s rate. Investment income includes interest, dividends, capital gains and other unearned income. Your child’s tax must be figured

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Posted in Child Tax, Children

Kiddie Tax Example Question

Question: Sam, age 15, came into your office to have his taxes prepared. He has wages of $6,500, interest income of $1,500, and dividend income of $5,500. He is claimed as a dependent by his parents, however his parents have

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Posted in Child Tax

Your Child’s Investment Income – tax implications

The following facts will help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate. Investment Income Children with investment income may have part or all of this income taxed at their

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Posted in Child Tax, Children, Dependent, Investment Income

Tax treatment for your children

Got Kids? They may have an impact on your tax situation. Listed below are the top 10 things the IRS wants you to consider if you have children. Dependents In most cases, a child can be claimed as a dependent

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Posted in Adoption, Child Tax, Children, Earned Income Tax Credit, Education Expense, Estimated Taxes, Gift Tax, Refundable Tax Credit, Student Loan, Tax Credit, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Relief, Uncategorized

Child and Dependent Care: IRS Publication 503

If you paid someone to care for a child under age 13 or a qualifying spouse or dependent so you could work or look for work, you may be able to reduce your tax by claiming the Child and Dependent

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Posted in Adoption, Child Tax, Children, Dependent
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