Tax and Advisory Services for Families with Children

We have been preparing tax returns for thirty years, but we’re much more than tax preparers. Our advisory services encompass the BIG picture to protect our clients through all phases of life.

Transitional events, like marriage, building a family, including foster and adoption, divorce, starting a business, aging and death all come with new complexities. Our role is to help our clients have the best possible outcome. Let us be your trusted advisors.

Filing status and dependents. Whether you’re single, married, head-of-household or widowed, we can help you through the tax complexities based on your circumstances. Perhaps you’re a blended family or exchange child deductions every-other-year with the other parent, have foster children, are raising your grandchildren or have kids in college.

Children related tax benefits

  • Exemption deduction for your children, including foster, adopted or in college.
  • Child tax credit and additional child tax credit.
  • Dependent care credit for children or adult family members needing care.
  • Adoption credits, including special needs children. (See our flyer on adoptions).
  • College deductions and credits even for dependents away from home.

Earned income credit. Lower income working parents with dependent children may qualify for a refundable tax credit when income levels and other circumstances allow.

Household employees. The tax reporting and payroll rules are complex and the penalties can be high when you hire certain persons to provide services in your home. Household employees may include nannies, childcare providers, babysitters, eldercare helpers or others who do not operate their own businesses. Let us help you with this.

Divorce tax issues. Divorce and legal separations often create many new tax issues regarding property settlements, sales of real estate and other assets, child or family support, alimony, determining the basis of assets, tax return filing status, injured or innocent spouse, splitting tax deductions, credits, liability and more.

Children and finances. We can advise on ways to help you educate your children about money, such as by opening a savings or investment account while they’re still minors, or a college savings fund or by hiring them to work in your business or fund an IRA for them from the wages you pay them from your business.

Categories: SACRAMENTO PERSONAL TAXES.