The gallbladder is a small pear-shaped organ connected to your liver through the hepatic duct. It stores a substance called bile that flows from the liver. The gallbladder contracts to release bile through your intestines when you eat fat-containing food. Bile is a substance composed primarily of specialized salts that help emulsify fat, enabling intestinal absorption. Fat is one of six essential nutrients that your body needs to function properly.
In addition to being able to claim personal exemptions for each of their children, they may also qualify for a variety of related tax credits. One of these is the child tax credit, worth up to $1,000 per child in the 2016 and 2017 tax years.
You can give a total of $26,000 to each grown child each year without reporting it to the IRS if youâre married and use gift-splitting and the annual exclusion. You can give another $26,000 to your childâs spouse, if heâs married. You can pay tuition directly to a college or university for your children or grandchildren and claim educational exclusions. You can also pay medical expenses directly to a medical facility and exclude those expenses from your gift tax.