Who are your Dependents from tax filing perspectively? This could be confusing to a lot of taxpayers. Can the dependent have his or her own earned income? Do they have to live with you? Is there any age limit? These … Read More
Dependent
Who you can claim as your dependent?
Claiming a dependent gives you a valuable tax break in dependency exemption, which works just like a tax deduction. The exemption amount for each dependent is $4,000 for year 2015. It is adjusted each year for inflation, and is also … Read More