is the child care benefit from your W2 line 10 is part of your income?
114847
No, you don't have to claim this as income, but you also cannot claim child care expenses as a deduction.  You have already gotten this money tax free so you can't deduct it again.
11106
It depends on your employment status. It's not as clear cut as it ought to be. There are exemptions.
921409
You get 1/2 of your benefit check for dependent benefits.It doesn't matter how many kids you have,you still get half.It isn't given as a per child benefit.You can have 1 or 10,you'll still get the same amount.
819715
When you pay a babysitter (who is not your spouse, parent of the child, dependent, or one of your children under 19) or a child care center to watch your dependent children who are under 13 because you work or are going to school or are looking for work, then the amount you pay may give you a credit on your tax return called a Child Tax Credit.  If you are married and your spouse doesn't work, then you won't get the credit.\n\nThe amount of credit depends on how many children, how much you paid, your tax liability, and your adjusted gross income.  You definitely don't "get all the money back", but you can get a substantial amount back.  It never hurts to apply for the credit.\n\nOne big thing you need is the name of the care provider, their SSN or EIN (if they are a business), and their address.  You can still file for the credit if they refuse to give you their SSN, but it is much easier if you get their SSN.  Why do you need all of this?  Whatever you tell the IRS you paid the babysitter, the babysitter will have to claim as income on their return.  If their numbers they report to the IRS are different than what you report, the IRS will send out letters asking for the correct number.  It is for this reason that many of my clients refuse to report the payments.  That is unfortunately because regardless if you tell the IRS you paid someone for daycare, it is the responsibility for the baby sitter to claim the income.  Not doing so is fraud.  Tax avoidance on your "first job" is not a good way to start a life.  Besides, depending on other factors in the babysitter's life, their tax burden may be very low.  The income, in some cases, may actually qualify them for so much tax credit that they not only end up not owing the IRS any money, they get money back from the IRS.  Why?  If they have children of their own, the Earned Income Credit can more than offset SE taxes and income taxes.\n\nBottom line is, go ahead and claim the credit.  Make sure your baby sitter knows what you are doing and make sure they know that they may need to claim that income on their own return.  They may not have to file if the amount is small, but that is their concern, not your.\n\nGood luck!
874068
Steve F's answer is dead on for 2006.  For 2005, the $5,000 standard deduction is added to one exemption $3,200 or two exemptions $6,400 to get the total deduction.\n\nThe total deduction for one exemption is $8,200 ($5,000+$3,200)and for two it is $11,400.\n\nTotal taxable income is $1,800 ($10,000-$8,200) for one and $0 for two.\n\nTotal tax is $180 (10% of $1,800) for one and $0 for two.\n\nSo, in 2005, your tax savings for claiming a dependent is $180.  For 2006, your tax savings for claiming a dependent is $155.  Something, but not much.  If the dependent is your qualifying child, you may get to claim the Earned Income Credit and/or Child Tax Credit to increase your refund, but that is a totally different topic.
1175469
what's the money being deducted for
391884
u should get tax credits,single parent allowance and ur council tax paid for you and u get a rent rebate.Milk tokens free school meals for the little one and free healthcare,free dental treatment for you too. Hope this helps.xxx Oh,and that is only for the UK,im not sure about other countries.
842850
Yes you can!  In fact, this is a great way to lower your SE and federal/state income taxes, get your children involved with your business, and teach them about income, taxes, and savings.  Definitely do it!\n\nYou can only deduct the wages you pay them on your Schedule C if the work is done in connection with your Sch C business, the child actually does work, and the money you pay them are reasonable in relation to the service provided.  Keep records of services and wages.  You need to give your child a W-2 and send the appropriate forms to the IRS, but any tax preparer worth their shingle knows how to do that.  The first $5150 of earned income is federal tax-free because it falls below the standard deduction for 2006.  And if all that isn't enough, if your child is under 18, all income they earn from your unincorporated business is exempt from FICA (social security and medicare) taxes.  If the child is under 21, the income is exempt from FUTA.
923268
When you fill out the W-4 form, there's a worksheet to help you estimate the number of allowances to claim.  At the very least, you can have two--one for yourself and one for your child.  \n\nOnce you start making house payments, the taxes you pay out of your paycheck can be decreased because mortgage interest is deductible on your income tax return.  Be sure to look at your W-4 again in April or May and do the Deductions & Adjustments worksheet.
738584
Your story is inconsistent with normal operation for tax collectors.  You should provide more detail as to who is doing all of this stuff.  It is not at all uncommon for tax examiners to question if a child being used to qualify for Earned Income Credit lives with the taxpayer and to require some proof of that if there seems to be a question.  If children are removed from the taxpayers home by a social service agency that has nothing to do with the "tax collector".
914589
You can go to this website, put in your details and it will give you an estimation. Or you can call them and do it over the phone and they will tell you approximately how much you are entitled to. It may not be exactly what you get but it's usuall pretty close.\n\nhttp://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx
861178
Yes. ALL your (not your childs) income is taken into account.
436189
If your involvement with the families was through your job, it is probably considered part of your work duties.  Therefore, the only compensation you should receive is your paycheck, not from the family.  Double check with your supervisor or legal counsel at your job.
66490
You should recieve a 1099G in the mail. Just like a W-2
1172695
it depends on your circumstances \n\nhow much do you earn, how old are your children etc, does your partner work etc.\n\neven if you are not entitled to HB or CTB you should be entitled to child tax credits if you are not earning much.\n\ngo to your jobcentre and ask them, also try the CAB if you don't get anywhere. you can also visit Tax Credit online and see if you can find out there - there is Working Tax Credit as well so if you are on a low wage you should get some help\n\nhope this helps
221541
Unfortunately it is very difficult to get the Earned  Income Credit without earned income.     Even when you do have earned income and you have $2,700 in investment income, you cannot apply.  Publication 17 from the IRS states the Pensions, Social security, unemployment, and welfare all are NOT earned income and do not qualify you for the earned income credit.  Your case is not unique, and I know it would help you raise the child, but the intention of the law was to help low income working parents, single or married.  It was not intended for retired Granparents.  I would lobby your Conrgressman/woman for a change to the law, because this is the only way you will get it.
52327
For part one if you don't have children it doesn't apply to you. Parents get so much $ per child each year. Kinda like a discount. If you have children you would want to use a different form.\nThe only thing that I know filing status refers to is if you are married or single. So I would suppose that it is saying that you can use this form if you are married or single.\nThe portion about mutual funds....I am not sure, but if you do not have any mutual funds then it doesn't apply to you so you could use that form.