by Jill Maturino | Jul 16, 2012
The parent who claims the dependency exemption for a child under age 17 is entitled to claim the child tax credit. Until 2008, the credit will be $700; in 2009, $800 and; in 2010, and thereafter, $1,000. However, the child tax credit is phased out for taxpayers with... by Jill Maturino | Jul 16, 2012
Under federal law, the child care credit may be claimed on either a joint tax return or on a separate return by a person eligible as “Head of Household.” The child care credit provides tax credits based on income levels for employment-related child care expenses up to... by Jill Maturino | Jul 16, 2012
A taxpayer who adopts an eligible child can claim a tax credit up to $10,000 per child for qualified adoption expenses, plus cost-of-living adjustments. An “eligible child” includes any person who is under age 18, is physically or mentally incapable of self care or is...
