What Do Moms Need To Know About Taxes?

What do moms need to know about taxes?

Being a mom helped Christina Klein Trapp decide to explore accounting as a flexible career.

“What drew me to the accountant field is that I was a mom. I always do everything backwards,” say Klein Trapp with a laugh. “First, I got married and had my kids, then I decided to finish college, and at first I thought I was going to be an elementary education teacher because they have the summers off, so I thought this was best for being a mom.”

Klein Trapp then met someone who would change her life. “ I met a woman who was a CPA and only worked during tax season and her kids were in school and then she was off the rest of the year. I thought I should try this it sounds like a really great career for a mom. So I took an accounting class and loved it and here I am today. “

What Moms Need to Know About Taxes

For You:

  • Keep your receipts in an orderly fashion
  • Use technology to help you
  • Keep your past year returns as guides
  • Don’t be afraid to ask for help

For Your Child:

  • If you or your child received a 1099 you need to file
  • W-2 form there is a threshold amount
  • To get money back with a W-2 you need to have your working child file a return

Biggest Take Away

Christina Klein Trapp says, “It’s really important that when you sign your tax return whether you prepared it or not, you are responsible for information on the return. If you don’t understand it, ask someone.”

Christina Klein Trapp, CPA, MST

Christina Klein Trapp brings over 25 years of leadership experience to our team. She has partnered with businesses of all sizes to realize creative, innovative financial solutions ranging from chief financial officer (CFO) and controller services to tax planning and business advisory solutions.

Christina balances her professional undertakings with her community involvement. She holds board positions at several nonprofit organizations, fosters a family-friendly culture in our firm and actively plans for the future of her clients, employees and firm.

WIPFI

The firm serves businesses of various sizes, from large public and private companies, to closely held family-owned businesses. Whether we’re helping clients streamline processes, improve performance, leverage the right technology, or increase financial success, we offer innovative, effective, and personalized services to help clients overcome their business challenges today and plan for tomorrow.

More from The Moms Network>

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The Moms

  • Dr.Cathy Subber
  • Patti Miglin
  • Lindsey Chan

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