NORTH CALDWELL NEW JERSEY ESSEX COUNTY DIVORCE LAWYER MEDIATION

Beginning in 2008, the Kiddie Tax will apply to any child under age 19, or a child who is a full-time student under age 24, if the child does not have earned income exceeding half of her/his support. Thus, the Kiddie Tax could come back to bite many families who thought it had been banished. For 2007, it applies to a child who has not turned age 18 by December 31, 2007. For 2008, it applies to a child who has not turned age 19 by December 31, 2008, or a full-time student who has not turned age 24 by December 31, 2008, if the child does not have earned income totaling more than half of his support.       Small Business and Work Opportunity Tax Act, November 13, 2007