TaxAudit Blog

Tag: child

preschool boy with his thumbsup

Under certain circumstances you can indeed claim a tax benefit for preschool tuition - called the Child and Dependent Care Expenses tax credit.

Read More ›

Economic Impact Payment Check from IRS surrounded by money

If you didn't receive an Economic Impact Payment and meet the requirements, you can still receive the payment when you file your 2020 federal income tax return.

Read More ›

small child on swing

Simply stated, child support is not deductible. However, it is worth noting that identifying child support payments may not be so simple.

Read More ›

boy selling lemonade

Yes, kids may have to pay taxes. No matter a person's age, if they have income that exceed certain IRS thresholds, the income should be reported.

Read More ›

child playing on a playground

If you paid someone to care for your child so that you could work or look for work, you may be able to take the credit for child and dependent care expenses.

Read More ›

Woman on the phone holding nephew

When more than one person wants to claim a child on their tax return, sorting it out becomes complicated. Not only are there five tests to meet for a child...

Read More ›

Child and Dependent Care Credit

The Child and Dependent Care Credit is available to help offset some expenses of childcare or daycare costs.

Read More ›

This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.