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Business Taxes: What Can You Claim? What Cant You Claim?Elizabeth Jamey
Can both parents claim a child on taxes? If you're filing separately, only one parent can claim the child. Find out how the IRS decides based on custody arrangements and which parent the child lived with most of the year. TABLE OF CONTENTS Two returns, one child Qualifying child ...
even if you’re being claimed as a dependent by your parents. If you are a dependent, you can't claim yourself on your return or any credits or deductions, but your parents can take advantage of the Student Loan Interest Deduction, American Opportunity Tax Credit or Lifetime Learning Credit...
Several tax breaks can help you cover the high costs of education, future college expenses and interest you pay on student loans.
Claiming a dependent on your tax return lowers your tax liability by providing an exemption and other possible credits and deductions. Whether or not you'll be able to claim your 17-year-old on your return depends on the Internal Revenue Service's (IRS) eligibility guidelines. ...
A wide variety of medical expenses and costs are deductible on your annual tax return. The Internal Revenue Service allows taxpayers to deduct any payments involved with diagnosing, treating, mitigating, preventing or curing a medical condition. However,
If you have to move because of a job change, depending on how far away you have to move and how many hours you work at your job, you might be able to claim your pet’s moving expenses on your taxes. Sales tax It’s kind of mind-bending, but you can claim taxes you’ve paidon...
page. In fact, You may want to go there quickly: You have three years from the date you filed your federal income tax return to claim a refund. Something else to consider: If you recently moved, make sure you haven't provided an incorrect address when filing your taxes. That ...
Can You File for Bankruptcy for Student Loans? Student loan debt was previously difficult to discharge through bankruptcy. This was because debtors had to go through an additional step of suing the government to prove that their student loans caused “undue hardship,” which used to be costly an...