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Recent Dependent Care Credit questions

Filing jointly or separate with my wife; 1. Do we have a

Filing jointly or separate with my wife;1. Do we have a choice?2. If so, what are the pros and cons of filing separate vs. jointly?3. If filing separately, can we file at different times?4. Can a separate filing for my wife now, be later changed to a joint filing?The reasons why I ask have to to with lack of clarity whether I should file in Canada or USA. Further elaboration of this reason can be provided if needed.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,804 satisfied customers
A client is the non-cutodial parent of a minor aged 8. A

A client is the non-cutodial parent of a minor aged 8. A court order was issued and the monthly obligation of the client is split into 1. a basic payment and 2. child care. The client has agreed to alternate the dependency exemption with the former spouse. The question is whether the non-custodial parent can take a deduction for the money paid to an after-school program since technically he does not pay for it directly but rather remits the funds to the custodial parent whom then pays the facility directly. Thank you.

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Barbara

Enrolled Agent, Paralegal

5,992 satisfied customers
I'm trying to determine if I should enroll in my companies

I'm trying to determine if I should enroll in my companies Dependent Care FSA.My issue is determining if the tax return on a Dependent Care FSA would be greater than Dependent Care Tax Credit. My wife and I file jointly and gross roughly 200k a year.

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Mark Taylor

Certified Public Accountant

Masters

2,688 satisfied customers
Taxes, 1040, The a couple has joint custody and splits time

quot;For Lane" taxes, 1040,The a couple has joint custody and splits time w the child 50/50 according to the divorce decree, of corse w some variation due to circumstances, vacations dates etc. because the mother earns much less money the divorce decree states the mother gets to take the child as a dependent on her tax return but the father is attempting to have more days of custody with the child during the year to attempt be able to take the dependent on his return. His CPA is referencing I think the IRS tie breaker rules. Will the IRS agree and is there any recourse for violating a divorce decree?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,804 satisfied customers
I have two related questions. 1. We live in VA. My husband

Hello,I have two related questions.1. We live in VA. My husband is employed and in his taxes claims himself, me and our son. His salary 52K. I am starting my job soon. My salary will be 58K. This year we will be filing our taxes jointly as permanent residents. Previous years we were filing separately and we were on student visas. My question is how we can maximize our tax returns by filing jointly?2. Our son is a USA citizen. How can we maximize our tax returns having a child in a family. How can we benefit from child care tax credit and child tax credit? He will be going to a day care and we will pay about 400 weekly (so that I can work).Thank you.

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Dr. Fiona Chen

President

Ph.D.

816 satisfied customers
If I get a caretaker elderly father and pay her $1899/year

If I get a caretaker for my elderly father and pay her $1899/year but also reimburse her for let's say $500 of related expenses like gas and parking, do I have to consider her a household employee? Do I have any other tax obligations?

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,962 satisfied customers
Dependant Child Care question: In the situation of divorce

Dependant Child Care question: In the situation of divorce and my ex-wife pays a percentage of child care, but the MSA allows her to claim the dependant child, who gets the credit? I read the 501 to assert that the parent with the highest AGI is allowed the credit according to the tie-breaker rules, but the language used by the IRS is a little vague (to me) on claiming a particular credit out of the allowed write offs when I am not claiming the the rest of the credits/write offs.

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emc011075

Tax advisor and Enrolled Agent

Bachelor's Degree

4,962 satisfied customers
NOL FROM FARM CARRIED BACK FROM 2015 TO 2010. CAN CHILD TAX

NOL FROM FARM CARRIED BACK FROM 2015 TO 2010. CAN CHILD TAX CREDIT AND DEPENDENT CARE CREDIT BE CLAIMED IF THE CREDITS WEREN'T CLAIMED IN 2010 DUETOO MUCH INCOME FOR THAT YEAR?

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Robin D.

Vocational, Technical or Trade School

22,430 satisfied customers
And it is regarding Notice 2014-7 Medicaid Waiver

***** ***** and it is regarding Notice 2014-7 Medicaid Waiver payments excluable from Federal tax but I don't think it is excludable for MN tax and I am trying to figure out where to add this back in on the MN form. Using Turbo TaxJA: Thanks. Can you give me any more details about your issue?Customer: Medicaid Wavier payments are excludable from gross income for Federal Income taxes - Notice 2014-7. I don't think they are excludable from Minnesota Income tax. I don't how to add this income back in for the MN tax. I am using TurboTax to complete the taxes.JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

19,804 satisfied customers
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