Child tax exemption

Child tax exemption and Michigan law.

Child tax exemption rules The rules for claiming a child tax exemption are complex.  Add a divorce or custody determination to the mix and the rules for claiming a child tax exemption can give even a seasoned tax professional a headache.   The first rule is that the child must be your qualifying child.  […]

Dependent tax exemption

Dependent child exemption and support – Is it worth fight over?

Dependent child exemption and support – Is it worth fight over? A dependent child exemption reduces a taxpayer’s adjusted gross income leaving more money in the taxpayers pocket by ensuring that not all of your income is taxed.  In 2014, the value of a dependent child exemption is $3,950.00 per child.  That is real money.[…]

Dependent tax exemption

Taxes and divorce or separation

Taxes and divorce or separation:  The tax rules that apply to divorce and separated individuals can be complex.  In fact, the Internal Revenue Service has a 29 page publication on the subject.  The publication for use in preparing your 2013 income tax returns can be found here:  http://www.irs.gov/pub/irs-pdf/p504.pdf. Most Michigan divorce lawyers get nervous when[…]

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