2018 tax benefits for Wisconsin parents

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By Brooke Napiwocki

May 16, 2018

STATE NEWS

In April, Wisconsin Senate Bill 798 was passed, which included two benefits for Wisconsin parents. First, a $100-per-child tax refund. Families can receive the credit for dependent children who are younger than 18 as of Dec. 31, 2017, and who are Wisconsin residents and U.S. citizens.

To sign up for the tax credit, parents can go to the state’s website. Claims for the credit will be accepted May 15 thru July 2, 2018. Parents will need their Social Security number, the Social Security number and date of birth for their child and, if they want direct deposit of the rebate, the routing number and account number from their bank.

Secondly, with the current school year winding down, Wisconsin parents might want to also add the sales tax holiday of Aug. 1-5 to calendars. No sales tax on school supplies, pieces of clothing priced at less than $75 and certain computer equipment for these five days! Learn more.

This news item was written by Brooke Napwocki, CFP®, MBA, Crescendo Wealth Management.
Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP®, Certified Financial Planner™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal advisor.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Crescendo Wealth Management, LLC and JWC/JWCA are unaffiliated entities.

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