Monthly Archives: February 2015

You like to be there for your friends, especially when they need a little help getting on their feet. For those friends who have become non-rent paying roommates and are spending nights on your couch, you may be able to get a tax benefit by claiming those friends as a dependent. Many people think only […]

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Caring for Your Dependents

February 8, 2015

Many taxpayers require a little extra help when it comes to taking care of their dependents. Those who hire professional care for their disabled relatives or childcare for their children younger than 13 so they can work may be eligible to recoup their expenses through the Child and Dependent Care Credit. This tax credit is […]

Categories: Credits, Forms Tags: , ,

Child Care Tax Credit

February 7, 2015

Finding someone to care for your child while you work or during school holiday can tie up a large portion of your budget. Sending your kids off to school can account for a much of your childcare needs, but if your children are younger than school age, or if they are on summer vacation, you’re […]

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Let’s Make Amends

February 6, 2015

If you’ve found errors on your tax return after it’s been filed, you may need to file an amended return, depending on the type of error and the circumstances of the return. However, determining when to file an amended return can be a complicated process. In some cases, taxpayers may notice that their previous year […]

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Party Like It’s 1099

February 5, 2015

You can’t escape the IRS. No matter what your job, even if you’re an independent contractor, the IRS wants you to pay your taxes, and they will find a way to make sure they get their money. Thanks to the Form 1099-MISC, independent contractors can file their taxes and avoid scrutiny from the IRS. The […]

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