Tag Archives: exemption

Don’t say the IRS doesn’t give you anything. While you’re forced to pay taxes, the IRS offers a personal exemption just for doing so. That means you get a deduction of a set amount each year just because you pay taxes. In 2015, the personal exemption amount is $4,000, which is an increase of $50 […]

Categories: General Tags:

Dependent Benefits

February 10, 2015

One of the easiest way to increase your tax benefits at tax time is to claim a child or eligible adult relative as a dependent. You are entitled to a personal exemption for each qualifying dependent that you claim, which helps put a little extra cash back in your pocket. You may even be able […]

Categories: Credits, Dependents Tags: , , , , ,

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 […]

Categories: Dependents Tags: , ,