H&R Block Newsroom (children)
2017
August
10,
2017
New parents face a lot of surprises when they bring their child home, including a possible surprise from the IRS. If they hire a nanny, they may be considered household employers and could be responsible for paying and withholding Social Security, Me...
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July
13,
2017
Filing a tax return is not a choice, it is an obligation for all who meet U.S. tax filing requirements. This can be surprising, for example, for U.S. citizens living overseas. One group of taxpayers are the thousands of H1B and TN visa holders who fi...
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June
08,
2017
Child care costs can range from $4,500 to $16,000 annually depending on the child’s age, the type of care provider and the state where a family lives. In addition, child care needs can change as kids grow up, families add new siblings or parents ...
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2016
September
09,
2016
In 2012, 15 percent of middle-aged adults provided financial support to both an aging parent and a child, according to the Pew Research Center. This is the sandwich generation. They find themselves caring for their parents and children at the same ti...
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June
27,
2016
Hiring children can be a tricky business, and many Americans are unsure how to handle the tax complications. There are a series of questions that need to be answered to determine whether or not payments to children are subject to income tax withholdi...
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June
06,
2016
At 16, get a driver’s license. At 18, register to vote. At 25, rent a car. These may be significant milestones, but there are also some important birthdays that carry tax consequences. Here are a few important birthdays to keep in mind so there is no...
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May
31,
2016
Before school ends for the summer, parents have some homework to do: making summer child care arrangements. Although there is a lot to weigh, the child care tax credit reduces parents’ taxes dollar for dollar and could tip the scale for parents decid...
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March
29,
2016
Raising children can be expensive, as any parent knows. Just outfitting a nursery and stockpiling diapers can really add up. According to a “baby-cost” calculator, parents can expect to spend $72 per month on disposable diapers or $76 per month on a ...
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2015
December
15,
2015
With the estimated, average cost for raising a child exceeding $245,000, parents need to take every opportunity to save money. Keeping that in mind, while it may be the first baby of the new year who gets the headlines, the babies born during the fin...
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August
25,
2015
Child care costs can range from $1,000 to $16,000 annually depending on the child’s age, the type of care provider and the state where a family lives.[1] According to ChildCare Aware of America, the average annual fees for full‐time care in a center ...
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2014
October
23,
2014
By The Tax Institute at H&R Block With the busiest birth months behind, there are millions of new parents and new babies – who create millions of new tax deductions for their parents to figure out. But a new trend impacting many of these families ...
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September
05,
2014
By The Tax Institute at H&R Block The first unemployment report since Labor Day indicates that 9.6 million Americans are looking for work. Seeking employment has its hardships, but certain tax benefits may help jobseekers as they transition from o...
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June
03,
2014
By The Tax Institute At H&R Block For some kids, summer means sleeping in and doing whatever they want, while others have a schedule as structured as a school day. Depending on how kids spend their summers, their parents could be eligible to claim...
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February
04,
2014
Raising children can be expensive, as any parent knows. Just outfitting a nursery and stockpiling diapers can really add up. According to a “baby-cost” calculator, parents can expect to spend $72 per month on disposable diapers or $76 per month on a ...
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2013
December
31,
2013
All babies born in 2013 – even at 11:59 p.m. on Dec. 31 – can be claimed by their parents as a dependent and used to qualify for many other child-related tax benefits for tax year 2013. With tax law changing every year, even parents who are no...
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February
25,
2013
This tax season, there were approximately 1,000 changes to the federal individual income tax code. Throw in almost 4,400 state changes and one can start to get a picture why going it alone could be a daunting task. To ensure taxpayers receive all ...
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