S.
Child support is not taxable income. Be sure to claim child credit, earned income credit, and child care credit, and file as head of household, if applicable to your return.
I am looking for a small CPA firm to file my taxes with. Does anyone know if you get taxed on child support?
Thanks
Terry Smith
Child support is not taxable income. Be sure to claim child credit, earned income credit, and child care credit, and file as head of household, if applicable to your return.
John Stephens CPA
Warren Stephens and Co
###-###-####
I've done my own taxes for years, using TurboTax. My taxes are fairly complicated also, as we formed an LLC, so the business revenue passes through directly to our personal taxes, and we have small biz expenses, in addition to itemized deductions, child credits, etc.
This software will walk you through step by step; it's wonderful and simple. It'll take you less time than getting everything together for an accountant and answering their questions! And, if you want peace of mind, you can get audit protection for an additional fee.
Just a thought. Good luck!
I LOVE my tax guy. His name is Jeff Whittaker. His number is ###-###-####. He has an office in Parker Square in Flower Mound. I think it's just him there. We've been using him for the past two years and he is great! Just tell him D. Hamilton referred you.
Good Luck!
D.
I am a CPA - I do not currently have a firm, but you could get TaxCut software and do it yourself. It really is not hard. But, I can tell you that you do NOT get taxed on Child Support that you receive.