Tax Deductions, Dependents, Income Taxes

The Pros and Cons of Parents Claiming College Students as Dependents

Fleurinord Law PLLC on 8/30/2024

As the back-to-school season kicks off and college students begin their fall semester, now is the perfect time to consider the financial implications of your child heading off to college. The decision of whether to claim them...more

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on 10/5/2023

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

Massachusetts Tax Reform – Help for Families and Seniors

Bowditch & Dewey on 3/1/2023

Massachusetts Governor Maura Healey’s long awaited tax reform package was released on Monday February 27, 2023. Among the proposals: - Dependent Credit: Establishes a $600 fully refundable credit per qualifying...more

Tax Court in Brief | Hicks v. Commissioner: Dependency Deductions

Freeman Law on 2/25/2022

Tax Litigation: The Week of February 21, 2022, through February 25, 2022 Hoops, LP v. Comm’r, T.C. Memo. 2022-9 | February 23, 2022 | Nega, J. | Dkt. No. 11308-18 Hicks v. Comm’r, T.C. Memo. 2022-10 | February 23,...more

Tax Court in Brief – Ola-Buraimo v. Comm’r

Freeman Law on 2/22/2022

The Tax Court in Brief February 14 – February 18, 2022 - Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose....more

A Tax Break to Help Working Caregivers Pay for Day Care

Chambliss, Bahner & Stophel, P.C. on 4/15/2019

Paying for day care is one of the biggest expenses faced by working adults with young children, a dependent parent, or a child with a disability, but there is a tax credit available to help working caregivers defray the costs...more