The Houston Family Law Blog


The Dependent Exemption For Taxpayers

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There are many rewards to having children; including the dependency exemption that allows parents to pay lower taxes. New parents especially may see this tax break as a bit of relief, because it can be very expensive to raise a baby. Kiplinger reports that a parent can usually knock off $3,650 off his or her taxable income for each child that is claimed as a dependent.

FindLaw states that in order to claim a child as a dependent, the child must be under the age of 19. However, there are exceptions that allow older children to be claimed as dependants as well. For example, a parent can claim a child as a dependent if he or she is a student and has not yet reached the age of 24. A parent who has a permanently disabled child can also claim the dependency exemption under Section 152(c)(3).

Claiming the dependency exemption is simple. The taxpayer just has to complete line 6C of Form 1040 or Form 1040A, making sure to provide the child's social security number or the child's Adoption Taxpayer Identification Number. There are many ways that parents can save money on their taxes when they have children. However, if a parent divorced or went through a child custody case last year, then tax credits can become a bit more complicated. For specific questions regarding child tax credits and dependency exemptions with your case, it could be wise to consult a Houston family law attorney. Sometimes Texas family law attorneys can provide the best tax-saving tips for parents and families.

For more information, please visit our Related Resources links.

Related Resources:

  • Social Security Numbers and Why Your Baby Needs One (FindLaw)
  • Be Tax Savvy! Deduct Daycare Expenses (FindLaw's Law and Daily Life Blog)
  • Find a Houston Family Law Attorney (FindLaw)

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