Tax Preparation in Wake Forest

Unless you have extremely simple financial affairs, you may be missing out on many of the tax saving benefits available. Filing your own taxes can be difficult without in-depth knowledge of the tax code, even with the support of today’s computer software.

tax preparation wake forestAt C.E. Thorn, CPA, PLLC., we know the tax law, how it changes and how we can apply that knowledge to you. By reviewing your return, we can find missing deductions and tax savers that could eliminate unnecessary overpayment. During the process, we will answer any questions you may have, and we will be available for financial concerns you may have throughout the year.

Tax-Cutting Advantages

There are numerous tax cuts and deductions available to you within the tax law. Knowing how you qualify for these breaks can help you reduce your tax payout, increasing your financial well-being.

We have compiled a list of credits and deductions that you can review. See if you have overlooked any of these tax savers before you file 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

Our professional Wake Forest CPA’s have extensive experience helping individuals and small businesses with their tax returns. Our team prepares hundreds of returns each year, and we are the trusted source in Wake County for all financial service needs.

Reduce Your Tax Payments

Don’t pay more than you should each tax season. The accountant of C.E. Thorn, CPA, PLLC., is ready to assist you in your tax preparation. Working with an experienced tax professional, you can help to establish a more economical future.

To receive the benefit of working with a seasoned tax professional, contact us today to receive your consultation.

*Information presented on this website should not be construed as formal accounting or tax advice or the formation of an Accountant/CPA-client relationship. Additionally, any email sent to C.E. Thorn, CPA, PLLC at the email addresses set forth in this website will not create an Accountant/CPA-client relationship.