National Tax Reports Reveals Who May Qualify as a Dependent
The National Tax Reports website now explains who qualifies as a dependent on tax returns, providing valuable insight for savings during the upcoming tax season.
(firmenpresse) - October 22, 2015 – Author and tax preparation specialist Frank Ellis has published the article, “Who Qualifies as a Dependent on Your Tax Return?” on the National Tax Reports website. It is intended for those who don’t realize they can get exemptions for their relatives. Deductions include the child tax credit; taxpayers can have as much as $3,900 deducted from their federal taxable income, the author says.
The first category covered is children. One can qualify even if they are not a biological child, according to Ellis, such as an adopted children. They just have to be in some way related to the taxpayer. Also, the child has to live with the person supporting them, unless they are away at school. Age limitations and exemptions are touched on as well.
Deductions are available for any family member one supports. Relatives or household members such as parents, grandparents, and siblings can be considered dependents as can an aunt, uncle, or in-law. Taxable income limitations are listed but it’s stated these change each year. Also, one has to pay for more than half of a dependent’s support and the author says what to do if more than one person pays for this support.
Closing thoughts include filing taxes with TurboTax. With simple questions, it helps to determine who qualifies as the dependent and ensures the taxpayer gets the largest tax refund they can possibly get. This and many other articles help people understand often overlooked tax deductions and facts so they can reduce how much they owe the IRS and get a larger refund each year.
To learn more about who may qualify as a dependent, read the article posted at http://nationaltaxreports.com/who-qualifies-as-a-dependent-on-your-tax-return/.
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.
Contact Information
Frank Ellis
National Tax Reports
945 East 8th Street Suite A
Traverse City, Michigan 49686
Website: http://nationaltaxreports.com/
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Datum: 22.10.2015 - 08:58 Uhr
Sprache: Deutsch
News-ID 428667
Anzahl Zeichen: 2400
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Contact person: Frank Ellis
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