Mistakes Parents Make with Their College Student’s Taxes 🎓💸
Let me guess…
Your college baby got a campus job and now thinks:
“I’m grown. I’m filing my own taxes.”
And then… boom. 💥
They claim themselves.
Now you can’t claim them.
Now your education credit is gone.
Now everybody’s stressed.
Tax Mom is stepping in. 💁🏽♀️
Just because your student has income does NOT mean:
❌ They’re automatically independent
❌ You can’t claim them
❌ They should file without talking to you
What actually matters:
✔️ Under age 24
✔️ Full-time student (at least 5 months)
✔️ Lived with you more than half the year (college counts as temporary absence)
✔️ You provided more than 50% of their support
They CAN file their own return.
They just need to check:
☑️ “Someone else can claim me.”
One wrong checkbox can cost you thousands in education credits.
👉 DM me “DEPENDENT” and I’ll send you my quick checklist to see if you qualify to claim your college student.
Don’t let a $12/hour campus job cost you a $2,500 credit.
#TaxMom #CollegeTaxTips #EducationCredits #SmartMoneyMoves
529 Plans: Before Baby → Beyond College
Family planning starts long before the first day of school.
A 529 plan allows future parents to begin saving before a child is born, giving investments time to grow tax-free when used for qualified education expenses.
Once your child is here, 529 funds can be used for:
✅ K–12 tuition (limits apply)
✅ College & graduate school
✅ Trade & vocational programs
✅ Books, supplies & required equipment
✅ Some room & board
✅ Student loan repayment (lifetime limits apply)
Planning early creates flexibility later — but only when the strategy is done correctly.
#529Plan
#FamilyPlanning
#TaxStrategy
#SmartMoneyMoves
#taxprofessional
More than tax prep, it’s full-service support. 💼✨
From accuracy reviews to audit protection, we’re here to keep you educated, protected, and maximizing your refund.
Scan the code to get started with FOOS Financial Tax Team today. @foosfinancialtaxteam@imlaurafoos
I’ve been a little quiet on here lately…
but I haven’t been idle.
I’ve actually been studying + getting certified to prepare taxes for the upcoming season.
My “why” is personal. Last year, a tax preparer left me hanging right before the deadline. I felt stressed, confused, and honestly a little powerless. And I don’t ever want to experience that again… and I don’t want anyone else to either.
So I decided to learn this for myself.
And the more I learned, the more I realized how many small things we’re never taught that can make a BIG difference in our financial peace.
Over the next few months, I’ll be sharing simple things I wish I knew sooner to help make tax season less overwhelming for real people, like us.
Thanks for being here, this is a new chapter for me, and I’m excited to build it with intention. 🖤
#newchapter #softlaunch #taxseason2025 #learninginpublic #financialconfidence #foosfinancialservices
A lot has changed in ten years ❤️. 10 years ago my son went out to support us as we ran the Army Ten Miler and today we got to support him while him and his friends ran their first one. #proud #armytenmiler #armystrong #army #westpoint #proudisanunderstatement❤️
