Tax Guide » Tax ExemptionsTax ExemptionsTax help in caring for an aging parentMillions of adult children find themselves looking after aging parents. If you qualify, tax laws offer some help.The many blessings (and tax breaks) of childrenChildren are expensive. But parents can take advantage of several child-related tax breaks.Name and Social Security number coordinationNonmatching name and Social Security number on a tax return could mean costly problems.Properly defined dependents can pay off at tax timeKids 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 amountsWhether you give away substantial amounts of money during your life or after, you may have to pay tax.2010 exemption amountsYou can take an exemption for yourself, your spouse and each dependent you claim.Tax exemptionsWhat is considered a tax exemption? Read stories about tax exemptions here.
Tax Guide » Tax Exemptions
« Back to the Tax Guide main page
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get expert advice during tax season on tax preparation and tips for cutting your tax bill.