Family Tax Returns
Minimize your taxes considerably by preparing your family’s tax return together. Let us coordinate your family’s tax return and start saving today.
While filing separately may divide your income and make you eligible for additional deductions, filing as a family instantly provides you with a wide range of family-related tax credits and deductions. When you’re ready to start optimizing your family’s tax return, reach out to your Optimize Adviser and start the process today. We pride ourselves on making the process as simple and effortless for you and your family as possible. The below deductions and tax credits are just some of the many advantages of filing your tax return as a family.
The Family Tax Cut
The new Family Tax Cut can lower a family’s overall tax bill significantly by allowing one spouse to transfer up to $50,000 of taxable income to the spouse in a lower tax bracket
The Children’s Fitness Tax Credit
If parents have children enrolled in sports, they can claim expenses of up to $1,000 per year for each eligible child. This new limit is twice as much as what they could have claimed previously.
The Child Care Expense Deduction
Parents which need to pay for child care expenses in order to go to work or school can deduct child care expenses from their income.
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