We all know that supporting a dependent can cost a bundle, but here are four things you may not know about dependents that will help you at tax-time.
Related and non-related dependents save you money. Even though you may be shelling out thousands for food, a place to live, and care for your dependent, the IRS gives you tax breaks for your dependent child, relative, or non-relative in the form of tax deductions and tax credits. Although tax credits reduce your tax liability dollar for dollar and tax deductions reduce your taxable income, both tax credits and tax deductions can save you money on your taxes and boost your tax refund.
A Prayer for Talking With God God, Sometimes I don’t feel like I have the words to pray. I don’t always know what to say to You. What do I say to someone who is perfect in every way? Please help me remember that You want to hear from me. Give me the confidence to speak what’s on