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Tax Deductions

Are Union Dues Tax Deductible?

As a member of a labor union, you may be curious to know if union dues are tax deductible. The answer is yes, but there…


“Status: It’s Complicated” Breaking Down the Head of Household status, Spouse vs Dependents, and How Many Allowances You Can Claim

"Can my wife be a dependent?" Only if you wanna sleep on the couch. Are You The Head of Household? This filing status allows for…


The Other Tax Credit for Children: What is the Child Care Tax Credit and How Does It Work?

A credit for taking care of kids. A credit for having kids. Now where's the tax credit for teenagers sass? The Child Care Tax Credit…


What Will the Daycare Tax Credit Actually Pay for? Let’s Take Care of That Child and Dependent Care Tax Credit

Also known as the "Keeping Mommy Sane" tax credit. What Is Form 2441: Child and Dependent Care Expenses? Form 2441: Child and Dependent Care Expenses…


How to Qualify for the IRS De Minimis Safe Harbor Election

 My Latin might be rusty, but is this the business equivalent of "don't sweat the small stuff"? De minimus is Latin for "not a big…


Child and Dependent Care Tax Credit Offers Benefits and Care for Caregivers

The Child and Dependent Care Tax Credit is a beneficial tax credit provided by the US government to assist families who have dependents that require…


The CTC’s Growing Up: Highlights and Overview of the Child Tax Credit and How the CTC Works

My, how these child tax credits grow! Filing your taxes in 2021, 2022, and 2023 are very different years. (Fingers crossed that the CTC gets…


Adoption Tax Credit and the Benefits of Qualified Adoption Expenses

Overview of Adoption Tax Benefits This credit seems pretty direct, but a lot of paperwork. Then again, if you're adopting a kid, the paperwork's not…