kiddie tax

Tips to Minimize the Kiddie Tax

October 29th, 2024|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Kiddie Tax, Tax, Tax Advisor, Tax Credits, Tax Deductions, Texas CPA, The Burns Firm|Tags: , , , , , , , , , |

The "kiddie tax" prevents parents from shifting income-producing assets to children to take advantage of their lower tax rate. It was introduced as part of the Tax Reform Act of [...]

The Kiddie Tax Could Affect Your Children Until They’re Young Adults

January 23rd, 2024|Categories: Accountant, Accounting, Burns Firm, Child Tax Credit, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tx accountant, Kiddie Tax, Services, Tax, Tax Advisor, Tax Deductions, The Burns Firm|Tags: , , , , , , , |

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually [...]

Cutting the Kiddie Tax Down to Size

July 13th, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Estate Planning, Kiddie Tax, Services, Tax, tax accountant, Tax Advisor, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: , , , , , , , , |

Despite its name, the "kiddie tax" is anything but child's play. If you're not careful, this provision of the tax code can result in children having to pay significant extra [...]

The kiddie tax: Does it affect your family?

July 26th, 2022|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Kiddie Tax, Services, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Credits, Tax Deductions, Tax Planning, Tax Return, The Burns Firm|Tags: , , , , , , , , , , |

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your [...]

The “Kiddie Tax” Hurts Families More Than Ever

August 29th, 2019|Categories: Accounting, Burns Firm, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, TCJA|Tags: , , , , , , , |

Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And [...]

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