jody's blog

9 Ways Your Children Can Save You On Your Taxes!

If you have both a job and young kids, you probably also have summer camp expenses. Summer camp is not cheap! estimates that a "full-season" (7 to 9 week) session will set parents back on average $3,500 to $11,000 per child.

On the bright side, some of your summer camp costs and other expenses that come along with childcare and children in general may allow you to qualify for a tax credit. Here are 8 facts you should know about deductions and credits available for parents that can help lower your tax burden.

What is Tax Identity Fraud?

Sadly, tax payer identity theft is a major problem that impacts over one million people each year. It is estimated, the IRS pays out $5.8 billion annually in bogus refunds to identity thieves. Simply put, tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return, claiming a fraudulent refund.


Subscribe to RSS - jody's blog