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When you claim a child that is under 17 maybe. You may qualify for the Child Tax Credit or the Additional Child Tax credit. Also if you pay for child care you may qualify for The Child and Dependant Care Credit.
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Which of these is not requirement for claiming an individual as a dependent?
The child must have lived with the taxpayer for more than three years.
Do single mothers get more money on their tax return?
No. You can claim the child and take off child care costs, but single people pay a higher rate.
Can daycare be used as a tax deduction?
No, taking care of yourself and family are personal expenses paid with after tax money. I agree, but you could be eligible for a child tax credit: A taxpayer who has a dependent child under age 17 probably qualifies for the child tax credit. This credit, which can be as much as $1,000 per eligible child, is in addition to the regular $3,500 exemption claimed for each dependent. A change in the way the credit is figured means that more low- and moderate-income families will qualify for the full credit on their 2008 returns. The child tax credit is not the same as the child care credit. Details on figuring and claiming the child tax credit can be found in IRS Publication 972 (PDF format).
What happens to someone for not filing there taxes and claiming more dependents then they had?
they get taxed more and if they don't pay that then they get sewed
What is the income requirement to be claimed as a dependent?
There are two types of dependents: Qualifying Child and Qualifying Relative. There's no income requirement specified for being claimed as a Qualifying Child. Instead, the person claiming the Qualifying Child provides over half of the child's support. A child who isn't eligible as a Qualifying Child may meet the requirements of Qualifying Relative. There's a gross income requirement of less than $3,500.00 in 2008 ($3,650.00 in 2009) for Qualifying Relative, in addition to receiving over half of his/her support from the person claiming the dependent exemption. For more information, go online at www.irs.gov/formspubs. Select Publication Number. Enter 501 to read/print Publication 501 (Exemptions, Standard Deduction and Filing Information.
What was the younger brothers reason for claiming he had a more worthwhile journey?
his memories
If the child is not yours what is the age limit in Arizona when you can stop claiming the child?
This requires more explanation.
When does child support end if you have more then one child?
Generally, with the majority or emancipation of the younger/youngest child.
Do teens who work at a younger age make more money in life?
Usually yes because they learn how to handle money at a younger age.
Which of these is not requirement for claiming an individual as a dependent?
The child must have lived with the taxpayer for more than three years.
Can i get more money for college if im am declared independent?
If you are 22 or younger, no.
My childeren reside with me and their father is claiming them on his income taxes. He does not pay child support but does pay for their health insurance. who is the one whom should be claiming them?
If you pay more than half their living expenses, you get to claim them. This is especially true if you can prove that he is not paying child support.
Can you adopt your friends child?
we can adopt our friends child by money more and more money.
Would a younger child more appreciate getting board games or a Nintendo Wii for Christmas?
A younger child would be more appreciative of a Nintendo Wii for Christmas. That is, if one is referring to today's society. Fifty years ago, a younger child would be very appreciative of a board game for Christmas. Younger children in families want to be included in his/her older siblings happenings. Therefore, anything that would promote quality time between the younger and older children would be appreciated.
How do you get more money to start off with on sims deluxe edition?
i believe that if your family has enough money for their child the child can get money to start off with
Do younger kids get less money than older kids?
Out of what i think, yes. The older children will have lived longer and therefore have more money over the past years. Where as the younger children will have less.
How much does your gross income have to be to get the child's tax credit and does unemployment count as gross income?
The Child Tax Credit is $1,000 for each of your dependent children that you are claiming that are 16 or younger. It doesn't have anything to do with gross income. This credit is nonrefundable, so it can only reduce your tax to zero. If your tax is less than this credit (see worksheet in IRS instructions), you will only claim enough of the credit to reduce your tax to zero & you may qualify for the Additional Child Tax Credit. The Additional Child Tax Credit is refundable (you can get money back if it's more than your taxes). It can be affected by your income. If the Child Tax Credit worksheet directs you to this credit, use IRS Form 8812 & instructions to see how much to claim. The total claimed on the line for Child Tax Credit & Additional Child Tax Credit cannot be more than $1,000 for each dependent child age 16 or younger. Yes, unemployment is part of gross income. However, it is not earned income.
