FAQ
Have Questions?
To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test:
- To meet the qualifying child test, your child must be younger than you and either younger than 19 years old or be a “student” younger than 24 years old as of the end of the calendar year.
- There’s no age limit if your child is “permanently and totally disabled” or meets the qualifying relative test.
In addition to meeting the qualifying child or qualifying relative test, you can claim that person as a dependent only if these three tests are met:
- Dependent taxpayer test
- Citizen or resident test, and
Joint return test
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This is not an answer that can be answered without asking several questions. The best option would be to schedule a free consultation with us to gather more information from you in order to provide you with an intelligent fact-based opinion of how you should organize your business.
Master Accounting and Tax Service has a strong, solid foundation in GAAP (Generally Accepted Accounting Principles) as well as QuickBooks Pro software knowledge (QuickBooks Pro Advisor) which allows us to handle any kind of bookkeeping or accounting issue. Therefore we do not require any “hand-holding” by the client; we are able to jump right in, find out what needs to be done with proper assessment, then roll up our sleeves and complete the work efficiently.
We will usually provide you with a balance sheet and profit & loss as well as other reports based on your needs.
What sets us apart from other companies is our compassion for our clients and experience. We do not just fill in forms and charge you a fee, we work WITH YOU to ensure you maximize your savings and are in the best position going forward you can be. Our extensive experience lets us go far beyond simply asking about deductions Turbo Tax or most accountants ask. Schedule a free consultation with us and see what we can do for you.
