At the office of C.E. Thorn, CPA, PLLC., we often find that inexperienced tax preparers fail to recognize the deductions and credits that may be available in the tax code. Even with modern tax software, mistakes can be made and money can be lost.
By working with a local tax professional who understands the complicated tax laws, you can eliminate errors and maximize your monetary return.
For over 30 years, individuals and small businesses in the Triangle have trusted our Raleigh accounting firm for their tax preparation services. The accounting professionals at C.E. Thorn, CPA, PLLC., understand the complicated tax laws and know what to look for when preparing a tax return.
We are available to our clients throughout the year for consultation on all financial affairs.
As an individual, business owner or simply an investor, you should always look for the tax-cutting advantages built into the law. Finding these benefits will help you become more financially secure and will lead to a more economically stable future.
Take a look at a few of the tax savers listed below, and identify which may benefit you when preparing your next tax 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
- 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
Our Morrisville Certified Public Accountant, provides tax services and training to help you find reductions in your tax returns.
Reduce Your Annual Tax Payments in Morrisville Today
Contact our Morrisville accounting team through phone 919-420-0092 or fill out our form below to see how you can benefit from our expert tax preparation services.