Who are dependent children? Children can be claimed as dependents provided that they meet one of the following categories: Under age 19 at the end of the year Under age 24 at the end of the year and a full-time student Permanently disabled at any age To claim an exemption for a dependent child, the taxpayer must […]
Category: Citizens and Residents
Five Ways to Offset Education Costs
College can be very expensive. To help students and their parents, the IRS offers the following five ways to offset education costs. The American Opportunity Credit This credit can help parents and students pay part of the cost of the first four years of college. The American Recovery and Reinvestment Act modifies the existing Hope Credit […]