Tax Queries

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: My daughter will be graduating in May and we wondered if we would be able to claim her on our 1996 income tax, or should we be planning ahead?A: You will be able to claim her as long as each of the following five conditions are met: 1) she is legally your daughter or a member of your household; 2) she is a U.S. citizen or resident (or resident of Mexico or Canada) for some part of 1996; 3)

To get the ball rolling while members of the Maryland Association of Certified Public Accountants prepare answers to reader questions, here are two frequently asked questions. Answers are provided by CPAs who belong to MACPA.Q: I understand there is a change in the Social Security tax. What is it and when is it effective?A: There is no change for 1993 taxes. But in 1994, up to 85 percent of Social Security benefits received by those with total incomes over $34,000 for singles and $44,000 for married couples will be taxable.