Let’s hear it for moms. They feed the family, do the laundry, keep the house clean, drive kids back and forth, and somehow find time to be there for the most important moments in their kids’ lives. And don’t forget the moms who also work a part or full-time job!
If you’re a mom who’s also filing taxes for your household, here’s what you need to know.
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Don’t miss the childcare credit
If you’re a working mom who pays for childcare, you can deduct up to 35% of those expenses via the Child and Dependent Care Credit. To qualify, you need to:
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Pay someone 19 or older who is not the child’s parent to take care of the child
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Get the person or organization's SSN or other TIN (taxpayer identification number)
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Have a child under 13, or a child who’s unable to care for themselves
You may be able to take this credit even if you’re not currently working—if you pay someone to care for your child while you go to school or search for jobs.
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Be sure to claim dependents
Can you claim a child as a dependent if you share custody of them? Or if you don’t financially support them?
For a child to qualify as your dependent, they must:
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Be your child, stepchild, foster child, brother, sister, step-brother, or step-sister; or a dependent of any of the above
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Be younger than you and under age 19 (or 24 if they’re a full-time student), or totally and permanently disabled
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Live with you for more than half the tax year
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Not supply more than half of their own financial support
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Not file a joint return (unless it’s only so they can get a refund)
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Not be a qualifying dependent of another taxpayer with a higher priority
For the Earned Income Tax Credit, you can claim the child that lives with you, no matter who claims the child as their dependent.
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File with the right status
Take a second to make sure you’re filing with the best status that will save you the most. For example, filing as a widow with a dependent child can significantly increase your standard deduction, rather than just filing as single.
If you’re unmarried on the final day of the tax year, and you maintain the household for your kids, you can probably file as head of household, which will save you a lot more than simply filing as single.
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Use the adoption tax credit (if you can)
If you’ve adopted, you can claim the Adoption Tax Credit and get a dollar back for every one you spend on adoption, up to $15,950.
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Look out for the Child Tax Credit
The Child Tax Credit provides $2000 in tax relief per child under the age of 17. If you have older children or a non-child dependent, you may be able to claim the Non-Child Dependent Credit, which gets you $500 per dependent.