Are You Aware of 2016’s Tax Law Changes?

Are You Aware of 2016’s Tax Law Changes by Susan Moussi

{2:47 minutes to read} As we get close to the end of the year, it’s important to remember and be aware of some tax law changes that came into effect in 2016.

Child Tax Credit

This is the $1,000 credit for which parents of children under the age of 17 are eligible. Nothing changes about the way the credit is calculated or who is entitled to it. What changes is that you now have to have in place a Taxpayer Identification Number (TIN) for that child by the due date of the return.

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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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