Teensandtaxes - teensandtaxes.com - Teens and Taxes
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No W-2 from employer for babysitter 1 Apr 2013 | 09:21 am
Hello Carol, Last year I earned over $7500 in cash by babysitting my neighbor’s child. I am 19 years old and my parents do not claim me on their tax return. Do I have to file income taxes even If I d...
Five more reasons a teenager should file a tax return 6 Mar 2013 | 03:16 am
Should your teenager file a tax return? I shared the five most common reasons why you may need to prepare a tax return for your teenager. Here are five more reasons: Your teenager started a busines...
Five reasons a teenager should file a tax return 27 Feb 2013 | 05:24 am
Should a teenager file a tax return? Here are five common reasons why a teenager may need to file a tax return. A W-2 arrived and federal income tax was withheld. Look at your teenager’s W-2 Box 2 F...
Does my teen’s income affect his FAFSA? 21 Feb 2013 | 02:26 am
Good Afternoon! I’m hoping for some help! My 18 YO made $8600.00 last year and paid $682 in Fed taxes. He would like to file his own taxes and try to recoup that money. He was 1/2 year a Sr in HS, 1/...
Can an unemployed parent still claim teenagers as dependents? 18 Feb 2013 | 06:35 pm
I collected unemployment all year. Does that mean I am not eligible for EIC (Earned Income Credit) for my 2 teenage dependents? If this is true, can I allow my 22yr old daughter to claim her sisters ...
Teenagers and college tax credits 15 Feb 2013 | 07:09 pm
Thank you very much for the information provided here. I have a 19 year old who worked last year part-time and earned $3000 dollars and a 25 year old college student who also worked part time last yea...
Mom and daughter both contribute to household. Is the teenager still a dependent? 12 Feb 2013 | 07:00 pm
My 17 year old is a full time student and actually brought in more income this year than me. I was caring for my mom. Can I claim her income with mine on taxes? We are both well below owing taxes ag...
How to determine if your teenager is your dependent 9 Feb 2013 | 06:57 pm
I get asked a lot of questions about whether a teenager earning money can still be a dependent of their parents. Here’s the good news: A teenager can earn a LOT of money and still be a dependent on t...
Use free software to prepare your teenager’s tax return 8 Feb 2013 | 06:20 pm
The IRS partners with several tax software companies to offer free tax filing. Go to the IRS website site Free File here. Watch out for the offers from some tax software companies. Sometimes they ...
Filling out the 1040 correctly for a teenager 7 Feb 2013 | 06:19 pm
Parents, if your teenager files his or her own tax return (and they should file their own tax return; do not add their income to your return) and you still claim them as your dependent, they need to b...
