How to File Taxes If Your Child is Working, But Still Lives at Home
Just because your child is working doesn’t necessarily mean that you can no longer claim him or her on your annual tax filing. The bottom line here is that if you are still financially supporting your child—no matter how old he or she is—there is a possibility that you can still claim that child on your taxes. Of course, there are certain stipulations that apply, and it is recommended to thoroughly research this so that you don’t falsify any tax documents.
Getting Council from an Experienced Tax Professional
In fact, when it comes to claiming anyone on your annual taxes, it is highly recommended to seek the advice of an experienced and reputable tax preparer. You will be doing yourself a favor if you hire one that is associated with a reputable tax relief firm. Getting tax advice from a tax advisor who is part of a tax relief firm will have access to resources that will assist you in resolving your debt to the Internal Revenue Service (IRS).
Finding the Right Tax Relief Firm
Success Tax Relief, a nationwide tax relief firm located in LaPorte, Texas, has over 30 years of experience resolving tax issues for taxpayers with the IRS. Our goal is to make sure that all of our clients get as much as they can in their annual tax refund, or reducing the amount owed while staying out of tax debt, and helping them build or re-build good credit for their business, if they choose to go this route.
Rules for Claiming Dependents
One of the ways we do this is by empowering our clients with information about what they can actually claim on their annual tax filing. One of the biggest tax benefits is claiming dependents. Many people might think that as soon as their child turns 18-years-old, they can no longer claim them on their annual taxes.
According to the IRS, your child has to meet the requirements of the qualifying relative test. The child must be younger than 19-years-old, or be a student and be younger than 24-years-old. The other exception is that the child has to be permanently and totally disabled.
However, three tests must be met in addition to the qualifying relative test and they are the dependent taxpayer test, citizen or resident test, and joint return test.
Take the online interview on a secure IRS website to determine who you can claim as a dependent here.
The Rules Within Rules
Even with the qualifying relative test, there are certain rules and stipulations that apply within that! This is why it’s important to learn everything you can about claiming dependents. The experts at Success Tax Relief strongly recommend that you do your research before you claim a child over the age of 18 on your annual taxes.
Call for Help
If for any reason, the IRS believes that something is not correct in your annual filing, they have the right to audit you. So it’s important to make sure that you have all of the help you need. If you feel that you could use some sound tax advice, contact the experts at Success Tax Relief online or call us direct at 877-825-1179 today!