If you and your heartthrob are not married but living together, there is a probability you share a lot of expenses. Also, one of the parties might relieve the other financially. In...
Posted by Thomas G Kinsella, ATP on 03/26/2021
For tax purposes, a dependent is any other qualifying person asides from the taxpayer or their partner that makes the taxpayer eligible to claim an exemption due to dependency on their...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 02/17/2021
What is a dependent?A dependent is a qualified person other than the taxpayer or spouse, who gives the taxpayer the right to request a dependency exemption on their income tax return....
Posted by Income Taxes and Bookkeeping LLC on 02/10/2021
Dependents Explained A dependent can be a qualified child or a qualifying relative with a status determined by the Internal Revenue Code (IRC) tests. To qualify for dependent...
Posted by Aurelia E Weems CPA on 09/14/2020
For 2018 and 2019, the child tax credit rose from $1000 to $2000 per child, following the President's new tax law. With qualified dependent children, you might also qualify to...
Posted by Aurelia E Weems CPA on 08/19/2020
