TaxAudit Blog

Can Grandparents take a deduction for paying the preschool tuition costs when the child still lives with the parents? To qualify you must meet the following.

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To claim a dependent on your tax return (and all the credits that come with that dependent), your child must meet a set of requirements.

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You cannot claim yourself as a dependent. It can be helpful for you find out who actually can claim you as a dependent and whether or not they intend to do so.

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You can likely deduct your out-of-pocket assisted living expenses on your Form 1040 tax return. But, as always, there are some conditions that have to be met.

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As with most tax questions, the answer to this question can be a little complicated. Dependent adult children will fall into one of two categories.

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The 2021 expense limit for this credit is $8,000 for one qualifying child, and $16,000 for two or more qualifying children. The credit is a % of those expenses.

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

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My grandson is in my custody and his mom allowed another person to carry him on taxes..my taxes were rejected. What should I do next?

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Having custody does not determine who can claim a child as a dependent. The IRS will look to who can prove the child lived with them most of the year.

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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.

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From a tax standpoint, a relationship that is established by marriage, such as your relationship with your mother-in-law, does not end with divorce.

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If the taxpayer has costs for after school care of a qualifying dependent, those costs may provide some tax benefits. Let's explore these tax benefits.

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While increasing allowances leaves you with more available funds throughout the year, it will have a rippling effect and your tax refund will decrease.

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Here is a list of some of the taxpayers who will generally benefit from the new tax law.

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Many people will likely owe extra money as a result of inadequate withholding because the new withholding tables were not accurate.

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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...

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The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor.

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

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I have a question about a head of household. My ex-husband passed away, which left his mother needing someone to care for her. I took her into my home…

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