If your child has a summer job, consider opening an IRA for him or her. According to the tax rules, anyone under age 70½ who has earned income can contribute to a traditional IRA. There’s no age restriction for Roth accounts, though the amount of the contribution […]
Read more →Working parents should be aware that the child and dependent care tax credit is available to offset some of the expenses for child care. Six facts the IRS wants taxpayers to know about the credit: Children must be under age 13 to qualify for the credit. […]
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