Friday Four: Tax Expert Offers Advice To Moms. Here’s Where The Money Reside!

True happiness involves the full use of one’s power and talents. After almost two decades of doing taxes under the table, I’ve been de-liv-ered! I just certified with the IRS as a Tax Expert and have landed a contract with Intuit! It’s one of the top tax preparation service providers in the the nation! With that being said, I’m here for you! I want to file your taxes and get you the biggest refund possible. Now if you’re wondering if I know anything, well here’s just a snippet of how I look out for moms.

If you noticed the cupcake in the slide show, just know that India love me! It has beets, and turtles in there! And it was delicious!

Filing Tips For Single Moms:

  1. File as Head Of Household. It the best bang for your return. It gives you a lower tax rate.
  2. File your dependents. Don’t let anyone trick you into using their number for a fraction of the credit. (But that’s not my business.}
  3. Claim Everything! Specifically the Dependent care and Dependent Exception.
  4. Make sure you claim the Child Tax Credit!

Did you hear about President Biden’s proposed COVID-19 stimulus relief package?

Bonus

A. Deduct Child Care Expenses! .Some parents in my local learning pod are capturing big money by filing child care expenses to recoup the money they pay me for hosting their students through out the week.

B. Hire your 8 year old! Mamas, they can sweep your office floor. Just hire and pay them. You don’t have to give them the money, Use it for their college fund or buy a new mini van to cart them around town. (That’s what I did.)

C. Child Support……… maybe taxable. (( So pour more into your 401k))

Child support is not taxable income. And if a parent paid child support, those payments are not considered deductible.

Alimony, on the other hand, counts as income. The spouse accepting alimony must report all the payments as income when completing tax filing. He can, however, increase his employer tax withholding to avoid a surprise tax bill at the end of the year. The ex-spouse paying the alimony may claim a tax deduction.

D. The American Opportunity Tax Credit and the Lifetime Learning Credit help defray the cost of post-secondary education, Kornblatt said. Qualifying single parents who are paying for college or other post-secondary education for their children might be able to claim these credits. The American Opportunity Tax Credit offers a maximum annual credit of $2,500 per student; the Lifetime Learning Credit offers a refund of up to $2,000 per tax return.

In addition to other rules specific to each credit, three basic criteria must be met in order to qualify for these education credits:

  1. The parent, the dependent or a third party must pay qualified education expenses for higher education.
  2. An eligible student must be enrolled at an eligible educational institution.
  3. The eligible student must be a dependent listed on the filer’s tax return.

A couple of options are available as tax breaks for parents saving for their children’s futures. “A single parent planning to pay for college in the future can start saving now using an education savings account or 529 plan — both provide tax-related advantages,” Kornblatt said.

Qualified tuition plans — also known as 529 plans — vary from state to state, but the main tax advantage is the same: The earnings are exempt from federal tax when used for qualified education expenses of the designated beneficiary. And generally, this exemption applies to state tax as well. Tuition, fees, books, room and board all fall under the category of qualified expenses. But contributions to a 529 plan are not tax-deductible.

The Coverdell education savings account can be used to pay qualified expenses for elementary, secondary and higher education. Contributions to a Coverdell savings account are not considered deductible, but amounts deposited in the account grow tax-free.

E. Determine Your Eligibility for the Earned Income Tax Credit

Some single custodial parents qualify for the earned income tax credit. Those with earned income below certain levels who file as single or as head of household can earn credits ranging from $3,400 for one qualifying child to $6,318 for three or more qualifying children.

F. Deduct Adoption Expenses

A parent who adopts a child can claim an adoption credit for the fees, legal costs and travel expenses associated with a legal adoption. In addition, adoptive parents don’t have to pay tax on income they get from adoption assistance provided by their employers.

When taking on taxes as a single parent, the complex IRS rules can be confusing, but you deserve to maximize your savings and possibly get some money back. Take advantage of these tips to help you, but seek the advice of a tax professional if you need it. I’m here sis’!

So yeah, I’ll be working off two different pc’s my desk looks funny to my babies. lol

Wednesday Wow: BHM- Homeschooling in 2021

This February is gonna be different. Black History Month is only twenty- eight days, so I intend on making the most of it for my home-schooled children and our learning pod students. We will be intentional about celebrating our culture – EVERY single day with workshops, conversations, and ole school, low- technology research! Feel free to join us as we discover and share our current challenges as a large African American family here in the south, and honor how our ancestors overcame many of then with their inner strength, spiritual guidance, creative will power, and communal efforts.

All of our live engagement will be on QC Supermom Facebook and Instagram pages. So if you are not following now, be sure to hit the like and follow button on them right now—> FB and here’s IG

PARENTS of black children, it’s time to teach a new way! It is our responsibility to help them work through our history so it won’t haunt them within their future. As they gain knowledge and age, they will begin to challenge the system and want to play a role in deconstructing institutional barriers. This year,we must teach our children a more full circle view of black history. Otherwise, we will fail them! We are NOTHING without our ancestors. Nothing without access to our history. We are more than slaves, ballers, and drug dealers.  African Americans are not to be feared, shunned or avoided. Black excellence is not confined to athletics and entertainment. I am so thankful for my parents for ensuring that we not only learned our family history, but also understood the challenges of people that looked the most like us. We got the painfully truth, blissful success and everything in between. From them, I have learned that when children are taught black history in their homes, and how we have contributed positively to society, education,science, art, law and medicine, it gives them an appreciation for themselves.

Lack of cultural appreciation leads to xenophobia both in the United States and around the world.

Click Here To Listen
in. It’s really good and loaded with culturally rich information.

Traveling Seeds —

Africans brought over many seeds- A few of out favorite ones are–> Watermelon Black-eye Peas, Okra, Coffee and the West African Yam

African Traditional Kids Games-

Here’s one I found online. I called my friend in Kumasi to learn more. He says that children still play theses games today.!

Pronounced “Mboo-bay Mboo-bay,” this game uses a Zulu word for lion. The Zulu tribe is based in what is modern-day South Africa. The game is good for groups of six or more.

In this game, children help a lion, or mbube, locate and capture an impala (a deer-like animal with antlers). Players begin the game standing in a circle and two blindfolded players start the game. One player is the lion and the other one is the impala.

First, both players are spun around. Next, players in the circle begin calling out to the lion, “mbube, mbube!” As the impala gets closer to the lion, the circle players’ chants get quicker and louder. Conversely, if the lion is far away, the circle’s chants decrease and get softer.

If the lion fails to catch the impala in a minute, a new lion is chosen, and if the lion catches the impala, a new impala is chosen.

Ngunui/ Intonga -> This is a stick fighting game. It is quite violent but considered as part of South Africa’s culture. You might be a part of this sport by just viewing from the sidelines as it has rules that you might not be aware of. It is a game that helps young men develop endurance and learning to defend without “weapons of war”. It was a traditional way of settling disputes or for deciphering the stronger man amongst herdsmen.

It is a game of two, usually played by young men. Both players hold on to two sticks each, one for attack and the other for defense. A helmet or a rugby scrum cap is worn to protect the head. Strikes to the head, neck, knees, and ankles attract points while areas behind the ears and the groin when attacked are considered foal. It is advisable that you simply watch the sport as it is played so you don’t earn yourself bad injuries.

We Are Some Soulful, Beautiful, Naturally good people! This video of kids playing just warmed my soul! Watch it here.

African Medicine:

I want my kids to be able to stay healthy after leaving our home. For this I want to infuse their brains in herbal remidies that they can easily reclaim as needed. Herbs and roots like garlic, and onions were documented as being used 4,500 years before present. Humans used spices to help preserve foods before refrigeration. Both were also used in religious ceremonies too.

This month they will learn how to use herbs, roots, and other parts of a plant, etc … to heal by creating: infusions, oils, poultices and lotions.

Note: To prejudice mothers-> “Inclusion and Respect are both Learned in the home.”

Our History. Our Story

Ok, this one will require our children to annoy us a little more, but it’s ok. They will be asking us questions about our parents, our siblings, our childhood, our education, our favorite ancestors, our dreams, our relationship with God, food, nature, our struggles- our story. After all who better to tell them who they are give them a sense of self? —— RIGHT!!! Their parents!!! Then we’ll put it all in a book for them to keep as heirlooms.