PERSONAL TAXES
Is there an age limit on claiming my child as a dependent ?
Yes . A child still in school at least 5 months of the year until age 19 , if in college fulltime until age 24 . There are other qualifications as well .
Who can I claim as a dependent ?
There are a few tests you would have to pass in order to claim a dependent . There is the age test as above if a child . If a dependent ( your child ) is married the only reason they should file a return is to get a refund with their spouse . What is your relation to the dependent ? Your child , step-child , foster-child , sibling , parent , aunt , uncle and others as well . Amount of support provided for the dependent . What is the dependent ’ s gross income as well as the taxpayer ' s ? This will prove support .
What documents do I n if I am self-employed
Usually a self-employed person will b 1099-Misc with non-employee compe most of the contracts that have paid t ployed individual . Most not all are req sue this documents but is a good ide record of all income for the business , or even bartering . Also any receipts penses . Please have those receipts org some type of format . It may be nice with the receipts and let your tax profe with these receipts but there may be a al charge ( hourly ) for compiling these is also recommended that the self-emp vidual have a separate bank for all bus actions and DO NOT PAY PERSONAL from a business account . If need to p expenses transfer the money or write yourself and then pay from a personal
Can I claim charitable donations without a receipt ?
You do need a receipt for any gift over $ 250.00 at one time . A cancelled check is not enough of a receipt for the IRS on these type of donations . You should have receipt from the qualifying charitable organization that also specifies where or not there is a benefit received . You can only deduct the amount that exceeds the fair market value of the benefit received . It is best to have some kind of record for all gifts made to charity by cash or check . You always need a receipt for any gifts of other than cash , clothes , household items etc . Not only a receipt but a list of items donated as well as thrift store values for each item . For more information you should contact your Enrolled Agent or tax professional .
What is a split refund
A split refund is only where you can dir your refund into separate bank accou accounts . These accounts can be che ings , Individual Retirement Account ( I Savings Account ( HAS ), and a few othe as well . You can also purchase U . S . Sav It would be best to talk to your tax pro hire an Enrolled Agent .
How can I check on my re
On www . irs . gov you can look for “ Wher fund ” link and you will have to answe about this year ’ s tax return . Question your Social Security Number , the filin this year ’ s return ( Single , Married Filing ried Filing Separate , etc .) and the am refund expected .