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Tax Deductions and Credits for Parents

Children can bring parents a lot of joy — and a lot of bills. But the good news, writes Marshall Loeb at MarketWatch.com, is that kids can help save you money at tax time. Loeb breaks out six ways parents can take advantage of tax credits and deductions, including a tax credit for child-care expenses [...]

Source: http://blogs.wsj.com/tax
 

Some tax deductions are aimed at individuals; many are directed to businesses. The complicated maze of tax deductions that Congress has instituted over the past 70 years has contributed to the view that the tax code in the United States needs to be completely redone in a simpler fashion.