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Tax answers/options when you sell your Home. We will answer your questions about the tax free home sales and give you options on tax free exchanges
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S-Corp, LLC, C-Corp, Partnership - Your Choice? Selecting the correct Business Entity is confusing. We will give you the tax options of each Business Entity.
How not to pay taxes when you sell income property. We will explain how to do a tax free exchange & not pay taxes when you sell your income property.
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Feline adoption today (Fairview Observer)Special adoption hours for the cats and kittens which were taken from a puppy mill sting last month in Sumner County will be 4-6 p.m. today. Maj. Don Linzy, who headed up Operation Animal Hope for the Sumner County Sheriff’s Department, said there were 26 cats and kittens available for adoption.
What are CPA-Tax Moms?
“CPA-Tax Moms” are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment.
The Tax Mom Specialist for this web site is Debbie.
 This is a picture of Debbie in her red hat. She is experienced with tax adoption credit. Two of grand children are adopted. She is the mother of five growth children.
Some "Mom" work from home, other work from personal offices. Debbie has a relaxed office in Denver, Colorado.
Not all are Moms, there are some Dads. We call them Mr. Tax Moms and CPA Dads.
Each Mom is independent. Once you start working with a Mom, you will keep the same “Mom” year after year regardless of where you move or relocate.
Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member of the CPA or Tax Moms, the Tax Professional must ALWAYS be in good standing with their state licensing agency (if there is one), experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company, has developed marketing and on line systems to help qualified Tax
Professionals work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of the “Moms” organization click on the Better Business Bureau icon below.
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Adoption Tax Credit
You may be able to take a tax adoption credit for qualifying expenses paid to adopt an eligible child. The adoption credit is an amount subtracted from your tax liability. Although the credit generally is allowed for the year following the year in which the expenses are paid, a taxpayer who paid qualifying expenses in the current year for an adoption which became final in the current year, may be eligible to the claim the adoption credit on the current year return.
The adoption credit is not available for any reimbursed expense. In addition to the adoption credit, certain amounts reimbursed by your employer for qualifying adoption expenses may be excludable from your gross income.
For both the adoption credit or the exclusion, qualifying expenses include reasonable and necessary adoption fees, court costs, attorney fees, traveling expenses (including amounts spent for meals and lodging while away from home), and other expenses directly related to and for which the principal purpose is the legal adoption of an eligible child. An eligible child must be under 18 years old, or be physically or mentally incapable of caring for himself or herself.
The adoption credit or exclusion cannot be taken for a child who is not a United States citizen or resident unless the adoption becomes final. An eligible child is also a child with special needs if he or she is a United States citizen or resident and a state determines that the child cannot or should not be returned to his or her parent's home and probably will not be adopted unless assistance is provided. Under certain circumstances, the amount of your qualified adoption expenses may be increased if you adopted an eligible child with special needs.
The adoption credit for qualifying adoption expenses are each subject to a fixed dollar amount and an income limit.
Under the fixed dollar amount of your adoption credit is limited to the dollar limit for that year for each effort to adopt an eligible child. If you can take both a credit and an exclusion, this dollar amount applies separately to each.
For example, assume the dollar limit for the year is $10,000 and you paid $9,000 in qualifying adoption expenses for a final adoption, while your employer paid $4,000 of additional qualifying adoption expenses, you may be able to claim a adoption credit of up to $9,000 and also exclude up to $4,000.
The dollar limit for a particular year must be reduced by the amount of qualifying expenses taken against the adoption credit in previous years for the same adoption effort.
On the pages of this web site you will find information that has been collected from many independent sources. Each article or news item offers a different point of view, but not necessary the CPA Mom's. This information is for general information only.
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If you desire to ask a specific question, feel free to contact us.
Opinions are FREE.
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If you have an adoption question use the form below to email Debbie.
Opinions are FREE
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