Tax exemptions

Tax Exemptions

• Tax help in caring for an aging parent
  Millions of adult children find themselves looking after aging parents. If you qualify, tax laws offer some help.
• The many blessings (and tax breaks) of children
  Children are expensive. But parents can take advantage of several child-related tax breaks.
• Name and Social Security number coordination
  Nonmatching name and Social Security number on a tax return could mean costly problems.
• Properly defined dependents can pay off at tax time
  Kids depend on you for a lot, but at tax time they could pay off when you claim them as dependents.
• 2012-2013 estate tax and gift tax amounts
  Whether you give away substantial amounts of money during your life or after, you may have to pay tax.
• 2010 exemption amounts
  You can take an exemption for yourself, your spouse and each dependent you claim.
• Tax exemptions
  What is considered a tax exemption?

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