Parents whose incomes are too high to qualify for the college tuition tax credits should see if their children qualify.
You can claim a tax credit of up to $13,360 this year for adopting a child, but you have to document expenses and file a paper return.
Don't miss the deductions and credits that are mostly likely to yield significant tax savings. Business, home and dependents are 3 key categories.
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.
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As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
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Six weeks later, most Americans have forgotten about the 2014 tax season -- except those who didn't file by the April 15 deadline.
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