IRS Publication 503


  If your parents are getting older, and you’re starting to handle some of their medical or personal bills, there are some smart ways to help financially — without putting yourself in an economic hole.   Here are three financial tips to lighten the load when you’re providing monetary assistance to your Mom or Dad […]


Q: Can I claim the child tax credit plus the child and dependent care credit? A: As long as you legally qualify for both credits, you are allowed to claim both the Child Tax Credit and the Child and Dependent Care Credit, according to IRS rules.   To claim these credits on your taxes, simply […]


The Child and Dependent Care Credit became permanent starting with the 2012 tax year – giving working individuals with kids and other dependents a major way to offset their childcare and dependent care expenses.   The Dependent Care Credit allows you to deduct up to 35% of your childcare bills, up to a maximum of […]


Nobody likes to pay taxes. In fact, most people prefer to get a little something back from the IRS after filing a federal tax return. Even though it’s more prudent, financially speaking, to break even – or have to write the IRS a small check – I recognize that lots of Americans love the idea […]