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Watch On YouTube At what income do you start to lose the Child Tax Credit? 📉 This short provides a Simple answer and explains the income phase-out thresholds. A Sound approach means not worrying about thresholds that don't apply to you. For most families, the full credit is available.
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Watch On YouTube Does a child need a Social Security Number to claim the Child Tax Credit? 📄 This short provides a Simple and clear answer, and explains the critical timing of when the SSN must be issued. A Safe approach means planning ahead to ensure you have all the necessary
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Watch On YouTube What exactly counts as 'support' for a dependent in the eyes of the IRS? 🤔 This short provides a Simple and clear answer, including a surprising insight about a car purchased by the child. A Sound approach means understanding the difference between qualifying child and qualifying
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Watch On YouTube Can you still claim your college student if they have a job? 🤔 This short provides a Simple, clear answer and explains the difference between earning an income and providing your own support. A Sound approach means understanding that it's not about how much they earn,
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Watch On YouTube Can you claim a grandchild, niece, or nephew for the Child Tax Credit? 🤔 This short provides a Simple and clear answer: yes! It explains that family relationships extend beyond just your own children and that a grandchild qualifies as a 'descendant' under IRS rules. A
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Watch On YouTube What happens if you have exactly 50/50 custody of your child? Who gets to claim them for tax benefits? This short provides a Simple and clear answer to a rare but possible tax dilemma. The 'number of nights' test always comes first, and AGI
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Watch On YouTube Who gets to claim the child for tax benefits after a divorce or separation? ⚖️ This short provides a Simple, clear answer and explains the role of the custodial parent and Form 8332. It also provides a constitutional insight to ensure you don't make a costly
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Watch On YouTube It's a common tax dilemma: Do you claim your child as a dependent or let them file their own return? 🤔 Many people think it's an 'either/or' choice, but it's not! This short provides a Simple answer and explains
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Watch On YouTube Confused about the difference between the Child Tax Credit (CTC) and the Additional Child Tax Credit (ACTC)? 🤔 You're not alone. This short breaks down the Simple, two-stage benefit that can reduce your tax bill AND put money back in your pocket. A Sound tax strategy
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Watch On YouTube How much is the Child Tax Credit worth? 🤔 For 2024, it's up to $2,000 per child, but there's a strict age cutoff that catches many parents by surprise. For the full amount, your child must be under age 17 at the end
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Watch On YouTube Is your definition of "financial success" simply hitting a number? 📈 Our Financial Principles Worksheet helps you move beyond that limited view to uncover what truly matters. We ask questions like: "What must be true about your finances for you to feel peaceful and secure?
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Watch On YouTube Think a great financial plan is just a list of goals, like "retire with $2 million"? Think again. 🤯 A plan built on principles is what truly provides a stable North Star, guiding all your decisions and ensuring your direction remains true. Your principles are your