Four tests to be a qualifying child

Relationship — the taxpayer’s child or stepchild (whether by blood or adoption), foster child, sibling or stepsibling, or a descendant of one of these. Residence — has the same principal residence as the taxpayer for more than half the tax year. Exceptions apply, in certain cases, for children of divorced or separated parents, kidnapped children, temporary absences, […]

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Taxable or Non-Taxable Income?

Generally, most income you receive is considered taxable but there are situations when certain types of income are partially taxed or not taxed at all. Hare are some common examples of items not included as taxable income: Adoption Expense Reimbursements for qualifying expenses Child support payments Gifts, bequests and inheritances Workers’ compensation benefits Meals and Lodging […]

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