Dependents

Child Chips In

February 6, 2012

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Today TaxMama® hears from Susan in the TaxQuips Forum with a well-reasoned question. “This concerns a mentally disabled 20-year-old living at home. She just started receiving money from her father’s pension, instead of Social Security Disability. At what point does contributing to the household become income. I contend that as long as you are the [...]

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Child Support Payment

January 29, 2012

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  Today TaxMama® hears from Danny in the Tax Quips Forum with this question. “My kids stay with their mother from Sunday noon until Thursday noon; then stay with me from Thursday noon until Sunday noon. I pay $140 monthly in child support. Can I claim them in my taxes?”

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IRS Reminds Parents of Ten Tax Benefits

January 27, 2012

Your kids can be helpful at tax time. That doesn’t mean they’ll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits. Here are 10 things the IRS wants parents to consider when filing their taxes this year.

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Nursing Home Costs

January 11, 2012

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 Today TaxMama hears from Susan in the TaxQuips Forum with an ever more common  situation. “My dad (age 88) is in a nursing home because my mom can no longer care for him. I wanted to know which nursing home expenses are considered medical expenses.”  

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What is my Refund?

January 9, 2012

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Today TaxMama hears from Alex in the TaxQuips Forum who is confused. “I’m wondering what my refund would be if I claimed exempt status for about half of 2011.I’m a full-time student, filing as single, with a gross income of about $10,000. I tried doing some of my taxes on TurboTax, but it said my [...]

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Divorce Rip-off

December 14, 2011

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Today TaxMama hears from Kathy in the TaxQuips Forum who is in despair. Let me summarize her problem – and you can read the details, here. Her husband’s ex-wife keeps claiming their children on her joint tax return with her new husband, even though the divorce agreement says Kathy’s husband gets the children. Kathy and [...]

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In 2012, Many Tax Benefits Increase Due to Inflation Adjustments

October 21, 2011

WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation. New dollar amounts [...]

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New College Student

September 20, 2011

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Today TaxMama hears from Vera in the Tax Quips Forum with a question that affects many families. “I am a single parent claiming HOH. My son went off to college for September 1st, 2011. Until then he lived here with me, worked and also attended college here. We always filed separately with me being HOH. [...]

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Tongue Twister

September 8, 2011

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Today TaxMama hears from Nora in the TaxQuips Forum, who wants clarification. “Topic under Pub 17: Qualifying Relative (QR) -> Member of Household or Relationship Test -> Relatives who do not have to live with you.  Where it states that one of the QR’s who do not have to live with you are the “son [...]

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Filing Frustrations

August 4, 2011

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  Today TaxMama hears from Myra in the TaxQuips Forum with lots of questions. “I filed an extension. How should I file at year end? Single, married but filing at a single rate, or jointly.  My husband receives Social Security disability. I file from a K-1.  I have large amounts of deductions.  I also can [...]

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