New Baby? Here’s What to Know for Your Next Tax Return Welcoming a new baby is life-changing—and it can also bring some big tax benefits! From tax credits to dependent deductions, your little one could help lower your tax bill and increase your refund. Here’s what new parents need to
How Getting Married Affects Your Tax Bracket Getting married is a big life change—and it can have a big impact on your taxes too! Whether you’re planning a wedding or just tied the knot, it’s important to understand how your marital status affects your tax bracket, filing status, and overall
Can Both Parents Claim the Same Child on Their Taxes? Short answer: No, both parents cannot claim the same child on their tax returns in the same year—even if they share custody. The IRS only allows one parent to claim the child as a dependent for tax benefits each year.
Do You Need to File a Return for Your Child? If your child earned some income this year—whether from a summer job, investments, or side hustles—you might be wondering: Do they need to file a tax return? The answer depends on how much and what type of income they received.
Tax Breaks for Parents: Childcare, Education, and More Being a parent is expensive—but tax season can give you a break. From childcare to college tuition, the IRS offers a variety of credits and deductions that can help lighten the load. Here’s a rundown of what to look for in 2025.
What to Know About Filing Jointly vs. Separately Married? Great! Now it’s time to choose how to file your taxes—jointly or separately. This choice can impact your tax rate, deductions, and refund. Here’s what you need to know before checking a box 👫 Filing Jointly: The Most Common Option Married
Getting Married? Here’s How It Changes Your Taxes Tying the knot changes more than your last name—it also changes your tax situation. Whether you just got married or you’re planning to say “I do,” here’s how your taxes will be different. 1. 👫 You’ll File Jointly (Most Likely) After marriage,
Child Tax Credit: Who Qualifies and How Much Can You Get? The Child Tax Credit (CTC) continues to provide financial relief to families in 2025. Understanding the eligibility criteria and potential benefits can help you maximize your tax refund. ✅ Who Qualifies for the Child Tax Credit? To claim the
Can You Claim Your Child as a Dependent? Rules for 2025 If you’re a parent or guardian, claiming your child as a dependent on your tax return can unlock valuable tax benefits, including the Child Tax Credit (CTC). For the 2025 tax year, certain rules apply to determine eligibility. Here’s
What to Know If Your Parents Still Claim You as a Dependent It Affects Your Credits, Your Deductions, and Even Your Refund Your parents may still be able to claim you as a dependent if you’re: Under 24 A full-time student Living with them for more than half the year
