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Wednesday, May 6, 2009

One child, two separated or divorced parents. Who gets the tax exemption?

by taxnick on May 6, 2009

In many cases situations involving divorce, or those where a child is born of two parents who are not married, there is a question about who is allowed to take the child as an exemption on their income tax return. With the exemption at $3,650, and a potential tax credit of up to $1,000 per [...]

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Obama’s corporate tax idea

by taxnick on May 6, 2009

President Obama roiled the business community Monday by proposing to hike taxes on income generated outside the United States. The changes, which supposedly would close loopholes and remove incentives to export jobs and investment, would bring an estimated $210 billion to the Treasury over the next decade. We’re all for closing loopholes and ending tax [...]

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