Knightdale Tax Preparation

Preparing a tax return without adequate knowledge of the tax code can be difficult. Often, individuals who prepare their own return can miss important deductions and credits that the tax law provides. Even with modern tax software, mistakes can be made and money can be lost.

tax preparation knightdaleThis where you can benefit from the expertise of a seasoned tax professional. Let our expert staff lend a helping hand during tax season.

Our Certified Public Accountants work with clients to help them achieve better financial stability by helping them increase their revenue. By working with our clients with an on-going basis, we know what to look for when preparing their tax returns. Most importantly, as a client, you will have a trusted resource throughout the year to answer any financial questions you may have.

Let our experienced staff guide you to more financial prosperity.

Here we have listed some tax preparation items to help you for your next return.

Individual tax preparation checklist:

  • Roth IRA
  • Rollover to Roth IRA
  • Tax-deductible IRA
  • Child tax credit
  • Income shifting to children
  • Child care credit
  • Earned income credit
  • Lifetime gifts
  • Education savings accounts
  • Education expenses
  • Hope scholarship credit
  • Lifetime learning credit
  • Bunching deductions
  • Flexible spending accounts
  • Health savings account
  • Donating appreciated assets instead of cash
  • Qualifying property for personal residence gain exclusion
  • Best filing status
  • Shifting income or deductions from year to year
  • Adoption expense credit

Investor tax preparation checklist:

  • Tax-free municipal bonds
  • Long-term capital gains and dividends
  • Rental property
  • Tax-free exchange
  • Low-income housing credit
  • Small business stock rollover

Small businesses tax preparation checklist:

  • Home office deduction
  • Keogh plan
  • SIMPLE plan
  • SEP
  • 401(k) plan
  • First year expensing of business equipment
  • Bonus depreciation
  • Year-end bonuses
  • Bad debt write-off
  • Disabled access credit
  • Other business tax credits
  • Tax-free exchange

Find Tax Deductions by Working with a Qualified Tax Preparer

The accounting office of C.E. Thorn, CPA, PLLC., offers extensive financial services to hundreds of businesses and individuals each year.

To find missed deductions and tax breaks, contact us to find out how we can help you before you submit your tax return.

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