Parents, Help Your Kids With This Tip!

If your kids are working a summer job or going off to college and working part-time, you have some great advice you need to give them.....

Employees who earn less than $6,100 in 2013 don't have to file a tax return since the standard deduction would wipe out that taxable income. And if you aren't claiming their exemption as a dependent, that income threshold is $10,000 in 2013. 

If your kids aren't going to meet the income threshold that requires a tax return be filed, make sure they claim exempt on their W4 forms. This way their paychecks don't withhold taxes, which prevents the need for them to file taxes just to get their tax withholding back. Now their take-home pay will be increased and they won't have to pay to have their taxes prepared!