Accounting Services Guides

Claiming A Dependent 101

Claiming a dependent can be very beneficial when it’s time to fill out your tax return. Those who claim a dependent can claim additional exemption for each dependent in addition to themselves. In addition to the tax credit, some taxpayers might also be able to claim a child tax credit, dependent care credit, and earned income tax credit. Those who aren’t married and who support a dependent can also file as head of a household.

When it comes to claiming a dependent, it is best to hire an expert to see your options and whether or not you qualify to claim someone as a dependent. Levy & Associates have experience with tax issues including the right conditions one needs to meet in order to claim a dependent. Claiming a dependent usually falls under two categories: claiming a dependent or claiming a relative.

Claiming a Child as a Dependent

The person in question must be your child, adopted child, foster child, brother or sister, or descendant of one of these. The child must have the same residence as you do, and the person must fit a few age requirements. Those over the age of 19 by the end of the year and those under age 24 who are full-time students qualify as a dependent. Those who are disabled do not have an age limit.

Claiming a person as a dependent must have not supplied their own half of support during the year. Those who share custody should keep a log of how long they’ve had the child during the year in order to prove your legitimacy in claiming the person as a dependent.

Qualifying Dependents for Relatives

Levy & Associates can help those who are unsure of whether or not someone qualifies as a dependent. In addition to finding tax advice, it’s wise to see if you fit these constraints for claiming relatives as a dependent. The first thing to remember when claiming a relative as a dependent is that they cannot also qualify as a child of the taxpayer. The person must also earn less than the personal exemption amount allowed by the IRS. This depends on the year, and Levy & Associates can help determine what that figure is.

The professionals at Levy & Associates have the experience and dedication needed to help you maximize your tax return. If you provide more than half a person’s total support during the year, it’s possible to claim them as a dependent. In addition to supporting the individual, you must also be related to the dependent in some way. Relatives that fit these qualifications can also be filed under joint custody with his or her spouse. To claim dependents and file within the United States, the person must be a citizen of Mexico, Canada, or the United States.

Claiming a dependent can offer you a large portion of money on your tax return, and Levy & Associates can help you with these types of questions and anything else needed during tax time. If you can claim a dependent, make sure that all of your qualifications are met in order to maximize your return and get back some of the money used to support them.

Contact Levy & Associates for Dependable Tax Audit Services

Levy & Associates is available for free initial consultations. We’re happy to answer any questions you have about the audit process or address any concerns about your specific situation.

There’s never a good time to be audited, and the time-consuming process will take away from your business or family if you try to face it alone. Let us handle and coordinate communication, so you can return to your daily life.