Taxes Bookkeeping and Payroll in Sandy Oregon

Claiming children can be a tricky thing. Dependent children is one of the things IRS looks closely at every year. There are many laws, and you can use those to your advantage if you know how. Let's dive in and learn about claiming children, and how that affects your taxes. There are additional tests that must be met to claim the realtives in this category as dependents. All of the following must be true in order to claim your child realative. You may wish to review Part 2 on

You've learned a little about who's related to you FOR TAX PURPOSES in the last article: Who's Your Dependent Part 1, and this edition is going to re-visit those relationships and expand on how they apply to your tax return. You'll be introduced to child dependents, which will be the focus of Part 3: Qualifying Children. First, let's look at the relationships (FOR TAX PURPOSES). Keep in mind, these relationships can be more complex than they initially appear. This is how the

One of the biggest impacts made on your personal tax return is who you claim as your dependent(s). The laws regarding this seem clear, but can be difficult to understand. This is especially true when your "co-worker said", or your "mom told me" that you could claim so-and-so on your taxes. The truth is there are several factors that must be considered to determine who is your dependent for tax purposes. Among the factors are: how you are or are not related, the living situati