Remember Dependent Exemptions? They’re Gone!

Remember Dependent Exemptions? They’re Gone!
Dr. Friday Tax Tips - One Minute Mo...

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Dr. Friday
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to This is a one minute moment.

Some of our popular deductions and credits did change last year. Remember dependent exemptions? Gone. That was the $4,050 for each person that was a qualified child in your household. Instead, children under the age of 17 now qualify for a child tax credit, which is $2,000, not $1000. Again, that went up. And many people are going to be able to use more of that because they are phasing out at a higher income bracket. So make sure you’re looking at all your tax deductions.

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