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CPAsNET Firm Of The Month

April 2014

You normally must pay income tax on your investment income. That is also true for a child who must file a federal tax return. If a child can't file his or her own return, their parent or guardian is normally responsible for filing their tax return.

Special tax rules apply to certain children with investment income. Those rules may affect the tax rate and the way you report the income.
The following are some tips that you should be aware of if your children have instevemtn income.
P.O. Box 7648 phone: 609-890-0800
Princeton, NJ 08543 April 18, 2014 fax: 609-689-9720