How Do Children Affect Tax Refunds?
The IRS offers numerous child tax benefits, which taxpayers can take as nonrefundable or refundable credits, depending on the type of credit such as the child tax credit. A taxpayer's income, filing ...Read More
How Much to Transfer Stocks to My Kids?
If you have stocks, at some point you may want to transfer them to your beneficiaries. This may happen before your death or after, but there are things to know about both. If you transfer within your ...Read More
How to Claim a Newborn on a Tax Return
Claiming a newborn on taxes can lead to big tax breaks, even with the new tax laws. However, it's important to get a Social Security card as soon as possible after the baby is born. This will be ...Read More
Are a Child's SSI Payments Taxable?
Although the Internal Revenue Service considers nearly all money a taxpayer receives as taxable income, a child’s Supplemental Security Income is one of the exceptions to that rule. SSI payments, to ...Read More