Tax Law

If you are adopting a child in 2011, I want to encourage you to familiarize yourself with the adoption tax credit. The Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund. Here are six things to know about this valuable tax…

I received a question stating that the writer was upset because he was taxed by the Federal Government at a rate of 25% on his bonus. He thought that the tax rate was the same on all lump sum distributions such as a bonus. In reality, the tax rate on the bonus is calculated based…