Children investment income – income tax rules

IRS.gov – Parents need to be aware of the tax rules that affect their children’s investment income. Here are four facts from the IRS that will help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate: 1) Investment Income – Children with investment income may have […]

Ten tax benefits from children

IRS.gov – Did you know that your children may help you qualify for some federal income tax benefits? Here are ten tax benefits the IRS wants parents to consider when filing their tax returns this year. 1. Dependents – In most cases, a child can be claimed as a dependent in the year they were […]

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