Tax
:
:
:
Days
Hours
Minutes
Seconds

Countdown finished!

DAYS LEFT UNTIL TAX SEASON

TAX TOOLS

Tax Prep Checklist

Save time and frustation download the tax Prep checklist.  Your tax professional will love you..





Download

Rental Property

Clients with rental property income can download the pdf income and expense file.  Please fill out prior to your tax appointment and bring along with other tax documents.


Download

Income and Expense

Excellent inexpensive way to keep track of  your small business income and expense




Download

Client Portal

In need of additional copy of your tax return or documents, please client below and you will be sent to the client portal.  Follow the directions to access your documents.  Call us with questions.

Visit

CREDITS AND DEDUCTIONm

Deductions and credits are two ways of saving money on your taxes. Learn the important difference between these two ways of reducing your tax bill, and how you can use every tax benefit you're eligible to take.

Credits

What is a tax credit?

A tax credit is a dollar-for-dollar reduction in your actual tax bill. A few credits are refundable, which means if you owe $250 in taxes but qualify for a $1,000 credit, you’ll get a check for the difference of $750. Most tax credits, however, aren’t refundable.

A tax credit can make a much bigger dent in your tax bill than a tax deduction.


Child Tax Credit

The child tax credit, or CTC, is a tax break for families with children below the age of 17. To qualify, you have to meet certain income requirements as well. 

In 2023 (taxes filed in 2024), the child tax credit could get you up to $2,000 per child, with $1,600 of the credit being potentially refundable. 

Learn More

Earned Income Tax Credit

This earned income tax credit (EITC) is a refundable tax break for low-income taxpayers with and without children. 

For 2023 (taxes filed in 2024), the credit ranges from $600 to $7,430, depending on how many kids you have, your marital status and how much you made.

Learn More

Child and Dependent Care Expenses 

The child and dependent care credit, or CDCC, is meant to cover a percentage of day care and similar costs for a child under 13, a spouse or parent unable to care for themselves, or another dependent so you can work. Generally, it's up to 35% of $3,000 of expenses for one dependent or $6,000 for two or more dependents.

Learn More

American Opportunity Credit

 The American opportunity tax credit, sometimes shortened to AOC, lets you claim all of the first $2,000 you spent on tuition, books, equipment and school fees — but not living expenses or transportation — plus 25% of the next $2,000, for a total of $2,500.




Learn More

Lifetime Learning Credit

The lifetime learning credit lets you claim 20% of the first $10,000 you paid toward tuition and fees, for a maximum of $2,000. Like the American opportunity tax credit, the lifetime learning credit doesn’t count living expenses or transportation as eligible expenses. You can claim books or supplies needed for coursework.


Learn More

Adoption Credit

The adoption credit is a nonrefundable tax break that helps taxpayers cover a certain amount of qualified adoption costs per child. The credit begins to incrementally decrease at certain income levels and completely phases once your modified adjusted gross income (MAGI) exceeds the given threshold for that tax year. 


Learn More

Saver’s credit

The saver's credit runs 10% to 50% of up to $2,000 ($4,000 if filing jointly) in contributions to an IRA, 401(k), 403(b) or certain other retirement plans. The percentage depends on your filing status and income.


Learn More

Solar tax credit

The solar tax credit, also known as the "residential clean energy credit," can get you up to 30% of the installation cost of solar energy systems, including solar water heaters and solar panels. 


Learn More

Electric vehicle tax credit

 The nonrefundable EV tax credit ranges from $3,750 to $7,500 for tax year 2023. Taxpayers can also get a credit of up to $4,000 for used cars. Eligibility depends on a number of rules, including income, price of the vehicle and whether the car meets IRS manufacturing guidelines for qualified EVs. 
Learn More

Deductions

A tax deduction or tax write-off lowers your taxable income and thus reduces your tax liability. You subtract the amount of the tax deduction from your income, making your taxable income lower. The lower your taxable income, the lower your tax bill.   The IRS allows taxpayers to lower their taxable income by choosing either the standard deduction or itemized deductions. Before that, you can also make certain adjustments to your gross income by taking above-the-line deductions in order to arrive at what's called your adjusted gross income.


Gambling loss deduction

Everything we do centers on providing services of the highest level of quality. We won’t stop until you’re 100% satisfied – that’s a guarantee.

Learn More

Medical expenses deduction

We pride ourselves on our efficient procedures and solutions, but we continually strive for improvement in order to deliver results more effectively.
Learn More

Health savings account contributions 

Satisfying customers is our top priority. That’s why we believe in offering fair and transparent prices with no hidden fees or extra charges.

Learn More

401(k) contributions deduction

Everything we do centers on providing services of the highest level of quality. We won’t stop until you’re 100% satisfied – that’s a guarantee.

Learn More

IRA contributions deduction

We pride ourselves on our efficient procedures and solutions, but we continually strive for improvement in order to deliver results more effectively.
Learn More

 Deduction for state and local taxes

Satisfying customers is our top priority. That’s why we believe in offering fair and transparent prices with no hidden fees or extra charges.

Learn More

Student loan interest deduction

The student loan interest deduction lets borrowers write off up to $2,500 from their taxable income if they paid interest on their student loans.


Learn More

Charitable donation deduction

If you itemize, you may be able to write off the value of your charitable gifts — whether they’re in cash or property, such as clothes or a car — from your taxable income. Per the IRS, you can generally deduct up to 60% of your adjusted gross .
Learn More

Mortgage interest deduction

The mortgage interest tax deduction is touted as a way to make homeownership more affordable. It cuts the federal income tax that qualifying homeowners pay by reducing their taxable income by the amount of mortgage interest they pay. 
Learn More
Share by: