|By C.R. Roberts, The News Tribune (Tacoma, Wash.)|
|McClatchy-Tribune Information Services|
"The entire week of the
And if you'll be preparing your taxes this weekend, the agency has offered eight tax-saving benefits that parents can consider.
–Dependents. You can claim as a dependent any child born in 2013.
–Child Tax Credit. Maximum
–Child and Dependent Care Credit. Because you were working or looking for work, did you pay for someone to care for a child or children under 13? Check Publication 503.
–Earned Income Tax Credit. If you earned less than
–Adoption credit. Certain expenses may qualify for a credit. Instructions are on Form 8839.
–Higher Education Credits. The American Opportunity Credit and the Lifetime Learning Credit may reduce the amount you owe. Check Publication 970.
–Student Loan Interest. It may be deductible. Again, check Publication 970.
–Self-employed health insurance deduction. If you were self-employed and paid for health insurance, you may be able to deduct premiums you paid to cover your child under the Affordable Care Act. The deduction applies to children under age 27 at the end of the year, even if not your dependent.
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