Tag: dependents

Summer Camp and Daycare Tax-Deductible

Milford, NH Resident Seeks Answers

Summer camp and daycare is tax deductible for children under age 13 or if the child is a disabled dependent.  The tax credit may cover up to $3,000 in qualifying expenses for one child or up to $6,000 for two or more children.  This includes money paid to a daycare center, babysitter, summer camp, or other provider offering childcare.  Covered under the Child and Dependent Care Credit, this was created for working parents to offset the price for childcare.  However, parents who are full-time students and those that are unemployed and actively looking for work may also qualify for this deduction

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Rules for Claiming a Dependent on Your Tax Return

Brookline, NH Resident Seeks Advice

There are tax deductions for those that have dependents living full-time in their household, the most common of which is the Child Tax Credit and Child and Dependent Care Credit.  To qualify as a dependent, this can be a child that is under age 19 or under 24 if they are a full-time student.  If the child is permanently disabled, you can qualify for these deductions regardless of age.  Caring for aging relatives that are living in your home may also qualify for a tax deduction as a dependent if you are financially supporting them.

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How Does Divorce Affect Your Tax Filing?

How Does Divorce Affect Your Tax Filing

Hudson, NH Divorcee Seeks a Better Understanding

The IRS does not consider a separation when it comes to filing your taxes.  Only if a legal divorce decree occurs during the calendar year will it affect your taxes.  If the divorce is finalized by December 31st, the IRS will consider you divorced for the entire calendar year for tax purposes.  The biggest change is that you can no longer file your taxes jointly, but must file as single or head of household.  Any children can only be deducted on the taxes of one parent, which is often the custodial parent.

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405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

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Tuesday: 9AM-4PM
Wednesday: 9AM-4PM
Thursday: 9AM-4PM
Friday: Closed
Saturday: Closed

Tax Season Hours (Feb 1 - Apr 15)

Sunday: Closed
Monday: 9AM-5PM
Tuesday: 9AM-5PM
Wednesday: 9AM-5PM
Thursday: 9AM-5PM
Friday: 9AM-4PM
Saturday: 9AM-2PM