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Tax Season Countdown Tax Tips: Tip #7 Check Your Children’s Filing Requirements

 


As a NJ CPA firm and and NY CPA  firm, we are dedicated with providing you the latest tax tips this season.  Here is today’s tax tip:

Your children may have to file a 2012 income tax return. Generally, a return is required if the child had wages of more than $5,950, self-employment earnings over $400, or investment income (such as dividends, interest, and capital gains) over $950. If your child had both earned and investment income, other thresholds apply. Need help? Contact us.

For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at info@bergencountycpa.com.

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