Tax articles
395 plain-English guides to U.S. federal taxes, newest first.
36 results in Tax Deductions
ClearThe Other Tax Credit for Children: What is the Child Care Tax Credit and How Does It Work?
A credit for taking care of kids. A credit for having kids. Now where's the tax credit for teenagers sass?
What Will the Daycare Tax Credit Actually Pay for? Let's Take Care of That Child and Dependent Care Tax Credit
Also known as the "Keeping Mommy Sane" tax credit.
How to Qualify for the IRS De Minimis Safe Harbor Election
My Latin might be rusty, but is this the business equivalent of "don't sweat the small stuff"?
Child and Dependent Care Tax Credit Offers Benefits and Care for Caregivers
The Child and Dependent Care Tax Credit is a beneficial tax credit provided by the US government to assist families who have dependents that require care while a parent or guardian completes work-rela…
The CTC's Growing Up: Highlights and Overview of the Child Tax Credit and How the CTC Works
My, how these child tax credits grow! Filing your taxes in 2021, 2022, and 2023 are very different years. (Fingers crossed that the CTC gets a growth spurt for filing in 2024.)
Adoption Tax Credit and the Benefits of Qualified Adoption Expenses
This credit seems pretty direct, but a lot of paperwork. Then again, if you're adopting a kid, the paperwork's not quite what's top of your mind, is it?
Can I Deduct My 529 Contributions on My Federal Tax Returns?
I think I might start a 529 just for the tax benefit!
How Long Can You Claim a Child as a Dependent?
Claiming your child as a dependent can provide significant financial benefits, including tax credits and deductions. However, as your children grow older and start to become financially independent, y…
Can I Claim my Adult Child as a Dependent?
Parents who have adult children who still depend on them financially may wonder if they can claim them as dependents on their tax returns. In this article, we will explore what it means to claim an ad…
The Standard Tax Deduction: 6 Key Points To Know
Are you going to take the standard tax deduction, or will you claim itemized deductions? To better answer this question, you may need to learn more about the standard deduction and the benefits that i…
Is My Gym Membership Tax Deductible?
With the rising costs of fitness centers, the question might pop into your head from time to time: Uh, is my gym membership tax deductible? Unfortunately, the general answer is “no.” Don’t worry, we’v…
How Do I Have to Claim My Child as a Dependent?
As a parent, claiming your child as a dependent can help you save money on your taxes. However, the process of claiming your child as a dependent can be confusing for those who are unfamiliar with tax…