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Tax Topic: Adoption Tax Credit
There are two tax benefits available to aid in the expense of adopting a child. An adoptive parent may claim a non-refundable credit against their federal income tax up to $12,970 of “qualified...
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Oh Baby, Tax Benefits
The anticipation of a child being born is an exciting time. There are rooms to decorate, clothes shopping to do and showers to plan. There may also be anxious feelings of how to take care of a baby for...
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Kiddie Tax: What You Need to Know
Prior to 1986, parents were able to shift investments to their children so that interest and dividends were reported on the child’s tax return often resulting in the child paying little or no tax at...
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