Prepared for the New Surtax?

The new Medicare surtax went into effect on January 1, 2013.  The official name of this tax is the “Unearned Income Medicare Contribution Tax,” and even though the name implies it is a contribution, don’t get the idea you deduct it as a charitable contribution.  It is, in actuality, a surtax levied on the net […]

Who Claims The Child?

Claiming a child can provide significant tax benefits. When couples divorce or separate, or even if the parents were never married, the question arises: who gets to claim the kids? This sometimes presents a nightmare for tax practitioners. This is because often both parents will claim the same child, and in this modern era of […]