Like any other income, a child’s investment income is also subject to taxation. However, it may be subject to either the parent’s rate or the child’s. Under certain conditions, parents maybe able to avoid having to file tax returns by including the child’s income on the parent’s tax return.
The first thing a parent must do [...]

Your children 17 years of age and below by the end of 2009 maybe able to help you reduce the tax you owe the government.  And depending on your income, you maybe able to get additional tax credit if your child tax credit is greater than the tax you owe.  To be sure of how [...]

A special Tax relief of up to $2million for couples filing together maybe granted to you for debt forgiveness on your principal residence for tax year 2007 to 2012. Although normally, debt forgiveness results in taxable income, you may exclude it as such if it was used to buy, build or substantially improve your principal [...]