Category Archives: Parenting

Mortgage and Taxes

Today TaxMama hears from Sally in Pennsylvania who has this question. “My daughter and her husband live in my home in western NY. They pay the mortgage, taxes and insurance. Is there any legal way for them to claim a deduction for the interest and taxes?”

Parents Property Exempt

Today TaxMama hears from Vivian in California who asks. “How do I get my parents property exempted from taxes? They are both retired & on Social Security. My dad has been on disability for years.”

Daughter’s Residency

Today TaxMama hears from the Joni in Il who is concerned, “Our daughter is going to a school away from our home, but in the same city as her grandparents. So she is moving in with them. If we allow her to establish residency with her grandparents, her tuition will be less. Would we still […]

Graduation Penalty

Today TaxMama hears from Robert in Texas, who’s proud of his daughter, but… “My daughter will be 24 in Nov of this year. She just graduated from college this month but will be living with me until Sept 1. Will I still be able to claim her as a dependent on this year’s tax return?”

The Tax Custody Issue

Custodial Determination Changes Under Proposed Regulations by David & Mary Mellem, EAs Ashwaubenon Tax Professionals Proposed Regulation §1.152-4 contains changes that will surprise many taxpayers as well as tax professionals. We’ll number the provisions just for simplification. 1) The rules apply when the child’s parents are divorced, legally separated, or live apart at all times […]

Daughter Heads House

Today TaxMama hears from Sherri, who needs to know. “My daughter is 17. She has worked all year since I was hurt on the job and haven’t been able to work. Can she claim head of household? She helped out with the bills when I was hurt. I don’t want her to get in trouble; […]

Hiring Kids

Today TaxMama hears from Deanna in the Tax Parlor, who says “My husband and I are about to elect S-corp status in an LLC. We currently pay our kids wages in the LLC, but are wondering if there is any real benefit to continuing this in the S-corp?” Hi Deanna, The benefits for hiring your […]

Child Care Credit

Today TaxMama hears from Julia from Avon, CO who tells us “I am a contract laborer as a mental health consultant in preschools. I have two children in childcare in order to work. But, as I am preparing my taxes it doesn’t show that I receive a child -care credit because I did not receive […]

Innocent Spouse v Ex-Spouse

Today TaxMama hears from Betty in Ridgland, MS, who’s upset. “My ex-husband owes me back child support and his present wife has filed a tax relief form called “injured spouse”. If I receive this check for my back child support and she is granted this “relief”, where do I stand on getting my back child […]