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Post by Blossom/Jackie W. on Oct 4, 2011 10:02:17 GMT -5
10 Most Missed Tax Deductions « Thread Started on Mar 13, 2011, 8:08am » -------------------------------------------------------------------------------- What are the 10 Most Missed Tax Deductions 1. Equivalent-To-Spouse Credit The equivalent-to-spouse credit can be claimed if you are single, divorced or separated. It is calculated the same way as the spousal credit with some restrictions. * If the dependent is not a child, he or she must be a Canadian resident. If a child is claimed as a dependent, he or she must have been under 18 years of age at least in part of the tax year, unless the child is mentally or physically infirm. * Only one dependent can be claimed under the equivalent-to-spouse credit. * Only one claimant is entitled to credit with respect to any particular dependent. o The credit cannot be claimed in cases where the taxpayer is subject to court-ordered support obligation. . . . . . . . . . To read the rest of this article, go to www.taxmanagementcentre.com/news/...._deductions.htmHugs, Mary |
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