You could get $4,000* off your taxable income for each dependent you claim in 2015. So who can you claim? *$4,050 in 2017. Note: The content of this video applies only to taxes prepared for 2015. It is included here for reference only.
the child needs to file themselves. To claim a child’s income on a parent’s tax return, the child needs to be considered a qualifying child dependent of the parent.
Claiming adependenton yourtax returncan make all the difference when it comes to yourtax liability. Adding a tax dependent may qualify you for certaintax benefitssuch as thechild tax creditandchild and dependent care credit, which in turn reduces yourtaxable incomeand your tax liability. It also...
Here’s when you are Required to File a Tax Return The income levels provided above are general guidelines provided by the IRS, but there are a number of exceptions (e.g. if you or your spouse are claimed as a dependent, are blind, etc.). When in doubt on whether you need to file...
When you apply an update (.msp file), any dictionaries whose compatibility ID has changed are backed up to a folder named "Version <Version Number> Backup". This folder is located in the same folder as Dynamics.exe. The <Version Number> value is the version you were using before applying...
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However, you need to be careful when claiming this deduction in your tax return.Interest on a bank loan or a line of credit from a financial institution would usually be deductible. But if you’ve borrowed money from your wife or a friend, the IRS is likely to look at the transaction ...
When you're expecting a tax refund, the last thing you want to do is wait for it to show up. Fortunately, theturnaround timefor tax return processing has sped up tremendously over the years, especially since the introduction of the IRS electronic filing, or e-file, system. Most ...
Financial conditions can have a significant impact on tax avoidance. Therefore, we controlled for firm size, leverage, current asset ratio, return on assets, and loss dummy. Growth potential can also affect tax avoidance. Thus, we controlled for the market to book ratio and age of firms. The...
The dependent variable in Equation (1) is the logarithm of total greenhouse gas emissions (GHE_OC) of OECD countries, and the independent variable is the per capita environmental tax (ET_OC). The control variables are the logarithm of population (OP_OC), the per capita crude oil consumption...