Special Needs Child

What is a 'Special Needs Child'

A special needs child is child who has been determined to require special attention and specific necessities that other children do not. The state decides upon this status and offers benefits that follow a special needs child because it is believed the child will not be adopted if assistance is not provided.

BREAKING DOWN 'Special Needs Child'

Special needs children typically receive some sort of additional tax credit or deduction for the guardian.

RELATED TERMS
  1. IRS Publication 972: Child Tax ...

    A document published by the Internal Revenue Service (IRS) that ...
  2. Child Support

    The monetary payments that are made from one ex-spouse to another ...
  3. Child Tax Credit

    A credit given to taxpayers for each dependent child that is ...
  4. Additional Child Tax Credit

    A refundable credit that can be claimed by taxpayers who are ...
  5. One-Child Policy

    A policy implemented by the Chinese government as a method of ...
  6. Adoption Credit

    A federal tax credit that may be claimed by federal taxpayers ...
Related Articles
  1. Financial Advisor

    How to Help Clients Plan for a Special Needs Child

    A special needs child demands extra diligence in planning. Here's a guide to best practices.
  2. Personal Finance

    How An Allowance Helps Kids Get Money-Smart

    Discover which of these three reward techniques teaches the best lessons about money.
  3. Personal Finance

    Teaching Your Child To Be Financially Savvy

    If you start today, you can set your kids up for a lifetime of smart money management.
  4. Investing

    Opening Your Child's First Bank Account

    Teach your children to save up to meet their spending - and saving - goals.
  5. Investing

    How To Teach Your Child About Investing

    Find simple and easy instructions on how to introduce your kids to the stock market.
  6. Retirement

    Should Each Child Get the Same Inheritance?

    The answer depends on what you've given your kids in the past, what their needs are now – and, unfortunately, how contentious they are.
  7. Personal Finance

    The 5 Most Expensive States for Child Care

    To get a better sense of how child care costs can fluctuate, here's a look at the costs of child care across the country.
  8. Personal Finance

    Help Your Kids Understand Money

    These simple tips will help you raise financially savvy kids.
  9. Personal Finance

    Summer: Time for Teaching Your Kids About Money

    Use summer holiday time to teach your children about earning, saving and spending money.
  10. Entrepreneurship & Small Business

    Should You Hire Your Kids to Work for You?

    If you own a small business, hiring your kids is a no-brainer. But there may also be reasons not to. Here are six questions to ask yourself.
RELATED FAQS
  1. Can my child have an IRA/Roth IRA?

    Explore the possibilities for establishing a traditional or Roth IRA for a minor child, and learn the necessary requirements, ... Read Answer >>
  2. How old does my son have to be to touch his life insurance account?

    My son's mom died 10 years ago. She left him a life insurance account. How old does my son have to be to touch any money? ... Read Answer >>
  3. Are Social Security survivor benefits for children considered taxable income?

    Learn why receiving Social Security survivor benefits on behalf of children does not affect income tax for a surviving parent ... Read Answer >>
  4. How can I use a child tax credit?

    You may be able to reduce the amount of taxes you owe by up to $4,000, by claiming the child tax credit of up to $1,000 for ... Read Answer >>
  5. I want to transfer my house title to my child, what are the costs and tax consequences ...

    The costs associated with a deed transfer will vary by state and by how the transfer is accomplished. Filing a deed yourself ... Read Answer >>
  6. How much does a dependent reduce your taxes?

    Learn the qualifications for claiming a dependent on your income taxes and the amount by which a dependent reduces your tax ... Read Answer >>
Hot Definitions
  1. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  2. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  3. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  4. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  5. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  6. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
Trading Center