Did You Hire Your Child This Summer?

Did You Hire Your Child This Summer? by Susan Moussi

{2:37 minutes to read} Summer is a great time to be a child. The school is out, and pools are open. However, for parents, summer is still a time to work. Some parents may want their child to work for them, because it will teach them life lessons about earning and saving money. Also, when they pay a child for work they perform, parents have an opportunity to shift income from their higher tax bracket to the child’s lower tax bracket. The child can then contribute their earnings to an IRA.

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5 Things Divorced Parents Need to Know Before the Next Tax Season

5 Things Divorced Parents Need to Know Before the Next Tax Season by Susan Moussi

{4:20 minutes to read}  As spouses finalize their divorces, agreements are usually reached as to how the parents will account for their child on their separate individual income tax returns.

Here are five things you need to know about child-related deductions and tax credits:

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