Tax Benefits for New Parents

I was blessed with my first two grandbabies this summer! (Stone Alexander and Grace Jenna) While Grammie won’t realize any tax benefits from the birth of these two babies, their parents will become eligible for a whole new set of tax breaks.   Dependents   Claiming your son or daughter as a dependent will shelter Read more about Tax Benefits for New Parents[…]

Individual Tax Provisions in Obama’s 2015 Budget

President Obama released his FY 2015 budget proposals on March 4.  I’m not one to analyze the benefit or cost behind proposed tax law, or argue conservative or liberal viewpoints ( I am conservative), but I am interested in what may be on the horizon for tax law.  While I’m conservative, I’m not naïve enough Read more about Individual Tax Provisions in Obama’s 2015 Budget[…]

Child Credits

While most of us know a parent who provides more than 50% of the support of their child is entitled to a dependency exemption, we may not know about two credits for parents with dependent children.  Credits are more valuable than deductions and exclusions because they are direct reductions to the amount of tax owed. Read more about Child Credits[…]