If you are supporting relatives, including adult children and elderly parents, you can deduct them as dependents. But make sure you follow all the rules.
A dependent doesn't have to be a relative or even live with you, but you do have to provide more than half of his or her support and meet other criteria.
A proposal would make illegal immigrants ineligible for the child tax credit and use that money for the payroll tax cut. Opponents say that's not fair to the children, who are often US citizens.
Adjustments for inflation include a change in tax-bracket thresholds and a small increase in the standard deduction and dependent exemption.
While most of us pay at least something to Uncle Sam every year, some groups are exempt from federal taxes.
Split it, put it in a trust, lease it, deduct it and create a legal tax break.
Add up deductions, credits for children, a few other credits and soon you're up to $79,000 in tax-free income.
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The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
Use your organizing skills to make sure your financial house is in order too.
Americans can kill two birds with one stone by filing their taxes and buying health insurance at the same time.
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