Should Income Tax deductions be pro-rated?

Inspired by a previous question as to why the magical number 18 is the dividing line between being an adult or child, when in reality we tend to mature much later (in many cases).

When you file your Income Taxes, you will notice at least two things that seem illogical and unfair.

A baby born on Jan. 1 doesn’t get the full year deduction for it’s parents as does the same baby born on Dec. 31.

Same holds true for people who get married. They can’t get the advantage of "Married filing Jointly".

If you were in Congress, would you propose a law that makes these Income Tax advantages pro-rated on a monthly basis, so that a child would get a twelfth of the benefit for each month.

This may sound ridiculous to you, but serious money is lost on a child who has the disadvantage of being born just after midnight on Jan. 1. Roughly several hundred dollars of benefit is at stake, maybe more depending on the tax bracket.

Maybe folks would want to induce labor sooner over this?
Yes, I know the difference between exemption and deduction, and yes, it does get complicated, but no, no increase in taxes (read my lips).
I messed up this question, and it was ill timed (it’s after tax filing season).

Child born Jan. 1 had no benefit for the parents tax return of the previous year.

Child born Dec. 31 gets full year benefit on parent’s taxes.

are there any tax deductions for 2008 college expenses?

Im asking about anything besides the Hope credit and what are the qualifications on the parents to be able to take these deductions? I heard there is something where the max deduction is 4,000.00

Independent contractor tax deductions?

Are any of the following expenses tax deductible for an IC:

Gasoline – can I deduct all gasoline costs or only the amount I use going to and from work?

Car insurance?

College tuition? (for a degree related to my work…however, my parents are providing the funding for the tuition..so I probably can’t use this as a deduction..?)

Is there anything I can deduct as an IC?

Thank you!

Can I claim tax deductions without my name being on the loan?

Recently My parents got a divorce and asked me to take over the mortgage payments, tax payments etc. We need to keep the house since I am the oldest (thank god I graduate college). I have 2 sisters and a brother to take care of. My mom might be getting lay-off soon too. The title was transfered to me and I’ve been making payments. We did not want to re-finance since the interest is now higher and that would cause the monthly payments to increase. We talked to the bank and they have not gotten back on whether they are willing to agree to a novation.

I’m a single female trying to take care of my siblings. Any advise would be great. PLEASE HELP.

Who Can be Counted as a Dependent for US Tax Deductions?

Me and my sister are over 18 and we still live with our parents, we are unemployed and our parents support us. Can we be counted as dependents and deducted from my parents taxes?

how does paying on a student loan be a benefit to parents tax deductions?

calgrant will stop helping me at UCDAvis should i take out a loan or have parents help with tuitilon?
how does loan payment and interest can it be deduced in any way to help with IRS?

Are there any income tax deductions that I, as caregiver for my elderly parents, could use?

I have bought my parents home and my husband and I moved in with them. I do not work, so I provide all transportation, and pay most of the bills. They pay for their own prescibed medications, I usually get the OTC medications. We split the bills, (they pay the electric, I pay the phone, etc.) I have been told that I might could use milage on my car for the doctor visits, which add up to quite a bit. Can anyone offer me some advice?

What kinds of personal tax deductions can I use to my advantage (legally)?

Here’s a breakdown of my life and expenses:

1. I run a freelance business repairing computers and Installing audio systems (only made 0… dead serious)
2. Live with my parents in california
3. work at t-mobile selling phones (hourly+commission)
4. I do not have kids
5. I am a student

I know my personal deductions are limited aside from business expenses, but I would like to know what options I do have. Any help will be greatly appreciated.

Can I get tax deductions if I am claimed as a dependent?

I’m 20 years old, full-time student. My parents claimed me as a dependent on their tax return. Am I still eligible for tax deductions, such as a loss on savings, charitable donations, etc.?

Can I receive tax deductions for contributing to a charity if I am claimed as a dependent?

My parents are claiming me as a dependent on their taxes. I made a monthly tax deductible cash contribution to a charity. I was wondering if I could itemize the deductions, or if my parents could since they claim me.