On November 8th from 4:00 to 6:00 pm CST, join voices with Steven Curtis Chapman, Jim Daly, and Dennis Rainey
to reach the nation with God’s call to care for orphans.
to reach the nation with God’s call to care for orphans.
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#1
01-13-2002, 01:12 PM
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Tax Credit when you own your own business.
Originally Posted By Amy
My husband and I are in the process of adopting a little girl from Guatemala. We were excited to learn about the adoption credit but, have then found out that it doesn't apply to us since we own our own business and are a LLC corp. We make more than $150,000 because we "show" the businesses profits on our taxes. Although my husband does not take home that amount in pay. Is there away that we can claim this or does this exclude us from this credit. Or does this mean that the $10000 just decreases? Thank any info will be appreciated. Amy
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#2
01-19-2002, 11:40 AM
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Re: Tax Credit when you own your own business.
Originally Posted By Don
You may want to consider working with your accountant on managing the business income - with some creative planning you may be able to shift income into 2002 and pull expenses into 2001 to manage your income under the 150k limit - good luck
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