March 16, 2016
One of the most common terms during tax time is "dependent". From credits and deductions, to filing status and other determinations, dependents play an important role in tax returns. eTax.com offers a special tool called the "Dependent Exemption Calculator" in which taxpayers can find out how many qualifying dependents they have.
eTax.com's dependent calculator first determines who qualifies as a dependent. Through easy to understand questions, the calculator asks the taxpayer to make determinations about the person they wish to claim as a dependent. Dependents are determined according to age, residency, relationship to the taxpayer, and citizenship in either Canada, Mexico or the United States. Dependents can be a variety of relationships to the taxpayer, including Son, Daughter, Grandson, Granddaughter, Stepson, Stepdaughter, Brother, Sister, Half-Brother, Half-Sister, Stepbrother, Stepsister, Adopted Child, Foster Child or a descendant of any aforementioned relatives.
Dependents can affect many different areas of a tax return. Taxpayers receive a dependent exemption for each dependent they claim, and many credit and deductions take into account the number of dependents a taxpayer has. eTax.com makes it simple to figure out which members of your household qualify as a dependents, and whether a taxpayer is eligible to claim dependents at all.
"eTax.com offers a variety of services to make filing tax returns simple and accurate, including additional calculators and tax preparation software." explained Paul Stanley of eTax.com.