Child’s Income

The tax advantages of hiring your child this summer

Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a win-win! Here are four tax advantages. […]

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Stretch your college student’s spending money with the dependent tax credit

2018 Tax Return, Child Tax Credit, Dependent Tax Credit, Income Tax, Individual Income Tax, Tax Credits, Tax Cuts and Job Acts (TCJA), Tax Deduction / Douglas Freeman

If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not eligible for the child tax credit. But there’s a dependent tax credit that may be available to you. It’s not as valuable as

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