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[…]

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.[…]