Kids Going Back to School: Tax Credits and How to Save Money

They're finally going back to school!

It's not that we don't love our kids - but summers can be so expensive!

Between paying for camps, trying to cobble together a family vacation and constantly hosting teenage boys for backyard pool parties (wow do boys eat a lot!), I, for one, am thrilled to send them all back to school and welcome the routine of September.

And congratulate yourself - you survived.

Now how about you try to get some of that money back?

3 Way to Get Your Money Back Before Kids Go Back to School

With your house finally quiet again, it's the perfect time to take a few minutes make sure you have everything you need to properly claim some tax credits and file some forms so that you can tktk

1. Get a tax credit for camp fees 

To start, if your kids are 13 and under on Dec 31 and you paid for day camp so that you could work (not just because you wanted to get them the heck out of the house), then you may be able to deduct a piece of those camp fees.

Watch the video below now and remember sleep away camp doesn't count.

 

2. Make sure you properly file taxes for working dependents

If you have older kids and sent them to work - good for you! But now you may have to help them with some tax filing requirements to get some of their withholdings back. If you employ them at your own business, you need to watch out for the payroll rules as well.

 

3. Fill out the FAFSA before the deadline

If you have college kids - it's that time of year. You and the FAFSA (Free Application for Federal Student Aid) form become besties - and there is money out there -- while it is required for everyone.

Here's everything you need to know, including which year's tax return you will have to go dig up.

 

 

More from Personal Finance

How to Get a U.S. Passport: What Do You Need to Apply?

How to Get a U.S. Passport: What Do You Need to Apply?

What Is a REIT and Why Should You Care?

What Is a REIT and Why Should You Care?

Retirees Make One Big Investing Mistake - Not Planning!

Retirees Make One Big Investing Mistake - Not Planning!

Women Need More Investing Confidence

Women Need More Investing Confidence

Top 7 Facebook Scams to Watch Out for in 2018

Top 7 Facebook Scams to Watch Out for in 2018