June Newsletter
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6 Tax Breaks for Parents
Dear <<First Name>>,

The IRS offers child tax credits to help parents and guardians offset some of the costs of raising a family. If you have a dependent who isn’t your direct child, you may also be eligible to claim a credit.

Parents may seek tax breaks on everything from child care to educational costs and even supplies, in some cases. Here are 6 ways you can take advantage of tax benefits as a parent:

Child Credits
The Child Tax Credit is a significant tax credit for those with qualified dependent children under age 17 (more on qualifications in a bit). With tax reform, the Child Tax Credit was increased to $2,000 per qualifying child and will be refundable up to $1,400, subject to income phaseouts.

Summer Camps and Child Care
Research shows one in three families now spend 20% or more of their annual household income on child care. If you paid a daycare center, babysitter, summer camp, or other care provider to care for a qualifying child under age 13 or a disabled dependent of any age, you may qualify for a tax credit of up to 35 percent of qualifying expenses of $3,000 for one child or dependent, or up to $6,000 for two or more children or dependents.

Qualified Tuition Plans, or 529 Plans
These plans offer yet another way to save on taxes while providing for your child’s education. A 529 plan is not a deduction or a....

Get the full list of tax credits!
IRS Deadlines- Schedule Your Meeting!
In order to guarantee to efile by the IRS deadlines, we ask that you meet our internal deadlines:

July 29 for S-Corporations & Partnership returns 
August 23 for Individuals, C-Corporations & Trust/Estates returns.

Please note, we will need all tax documents and have met (in person or by conference call) before the date above. Please schedule your meeting now to ensure your spot on our calendar!
Important Dates & Deadlines!

June 17
2Q19 Estimated payment due

September 16 – Extended S-Corp (1120S) & Partnership (1065) returns due at the IRS

September 16- 3Q19 Estimated payment due

Estimated Taxes:
If you are self-employed, or if you have income other than your salary, you may need to pay estimated taxes each quarter to square your tax bill with the IRS.
Read More >

Learn more about our services for businesses and individuals.
Contact us today!

Jeanine Hemingway, CPA, PC
(512) 291-9955

Our Services

Business Tax   Tax Planning    Bookkeeping/Accounting       Individual Taxes
Jeanine Hemingway, CPA | 512.291.9955 | |
 8700 Manchaca Rd., Ste. #304
Austin, TX 78748

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Jeanine Hemingway CPA · 8700 Manchaca Rd. Ste. 304 · Austin, TX 78748 · USA

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