Filing Taxes Correctly 

Facts about Dependents and Exemptions

Some tax rules affect every person who may have to file a federal income tax return - these rules include dependents and exemptions. Here are a few important facts you should know about dependents and exemptions that will help you file your 2010 tax return.

- Exemptions reduce your taxable income: There are two types of exemptions: personal exemptions and exemptions for dependents. For each exemption you can deduct $3,650 on your 2010 tax return.

- Your spouse is never considered your dependent. On a joint return, you may claim one exemption for yourself and one for your spouse. If you're filing a separate return, you may claim the exemption for your spouse only if they had no gross income, are not filing a joint return, and were not the dependent of another taxpayer.

- Exemptions for dependents. You generally can take an exemption for each of your dependents. A dependent is your qualifying child or qualifying relative. You must list the social security number of any dependent for whom you claim an exemption.

- If someone else claims you as a dependent, you may still be required to file your own tax return. Whether you must file a return depends on several factors including the amount of your unearned, earned or gross income, your marital status, any special taxes you owe and any advance Earned Income Tax Credit payments you received.

- If you are a dependent, you may not claim an exemption. If someone else - such as your parent - claims you as a dependent, you may not claim your personal exemption on your own tax return.

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St. Patrick's Day Recipe

Chocolate Peppermint Triffles

This is a gorgeous dessert that taste as good as it looks, and it is perfect for a St. Patrick's Day party. This layered dessert begins with rich chocolate brownies or cake that you cut into half-inch cubes.  Next you whip up a batch of hot fudge sauce by melting dark Belgian chocolate and butter together, and adding powdered sugar and evaporated milk and bring to a boil. Stir constantly for four minutes and then remove and let cool. The final layer is peppermint whipped cream. All you need is peppermint flavoring that you add to the whipped cream to taste. Stir in green food dye to make these Irish triffles and mix in some crushed candy canes, and you're ready to assemble.