| | WE PROVIDE COMPLETE YEAR AROUND TAX SERVICES....... TAX PLANNING We believe our client’s focus should be on minimizing their overall tax liabilities not maximizing their tax refunds. We do not offer contests or other gimmicks to inflate your end of year tax refunds. Your income and payroll taxes are "PAY AS YOU GO". There is absolutely no talent involved in overpaying your withholding or estimated taxes so to get a large refund. However, to legally and legitimately minimize your tax burden it does involve education and thorough knowledge of the tax laws. You should realize most reductions to your tax liability involve the spending of cash (economic performance) so you should plan for these outflows of cash wisely to target tax reductions and wealth creation. You should ask your professional tax advisor what your "effective" tax rate is and how you can go about lowering your overall tax rate. DIFFERENCE BETWEEN YOUR EFFECTIVE TAX RATE AND MARGINAL TAX RATE... - Your marginal tax rate is the rate at which your last and your next dollar of taxable income are taxed. It is not the rate at which "ALL" your earnings are taxed. The marginal tax rate is the "MAXIMUM" you are paying on any of your dollars of taxable income. For example the marginal rates for 2006 are stated below for individual's at 10%, 15%, 25%, 28%, 33% and 35%. However, the are other taxes that you may have to pay such as social security taxes, alternative minimum taxes, and even penalty taxes on retirement plan distributions. Furthermore, there are also tax credits that you may benefit from, such as child tax credit, the dependent care credit, earned income or educational credits. Your effective tax rate is the average rate of taxation on all of your dollars. It is your total tax liability obligation divided by your total taxable income. Your personal effective tax rate is most important information that you should be focusing on and determining why it is increasing or decreasing from year to year. TAX RETURN PREPARATION FOR....... Individuals Businesses - Self Employed (Sole Proprietor) - Partnerships & LLP's - Corporations & LLC's, C Corp & S Corp Income Taxes Sales and Use Payroll Taxes - Federal - State - Federal - State - County - State - Local - Local - Local 
We are an authorized E-File provider. That means the government can acknowledge receipt of your tax return in as little as 48 hours. You can have your federal income tax refund back in as little as 10 days deposited directly into your bank account. CHECK THE STATUS OF YOUR FEDERAL INCOME TAX REFUND THAT YOU ARE GETTING HERE - https://sa1.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp REPRESENTATION BEFORE THE IRS....... We represent our clients during tax audits by the IRS and other government agencies. FOR 2009 TAX RETURNS The basic standard deduction amounts for 2009 are: - Head of household — $8,350
- Married taxpayers filing jointly and qualifying widow(er)s — $11,400
- Married taxpayers filing separately — $5,700
- Single — $5,700
- Additional Deduction for Elderly and Blind - Single $1,400 - Married (Each) $1,100
The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer may not exceed the greater of $950 or the sum of $300 and the individual's earned income. The amount you can deduct for each exemption is $3,650 in 2009. You lose all or part of the benefit of your exemptions if your adjusted gross income is above a certain amount. The amount at which the phaseout begins depends on your filing status. For 2009, the phaseout begins at: - $125,100 for married persons filing separately,
- $166,800 for single individuals,
- $208,500 for heads of household, and
- $250,200 for married persons filing jointly or qualifying widow(er)s.
2009 FICA Taxable Wage Limit $106,800 2010 FICA Taxable Wage Limit $106,800 (no change from prior year) 2009 Section 179 Deduction Limitation $250,000 2009 Mileage Rates Business 55 cents Chartiable 14 cents Medical and Moving 24 cents 2009 MARGINAL TAX RATES Single| If taxable income is over-- | But not over-- | The tax is: |
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| $0 | $8,350 | 10% of the amount over $0 | | $8,350 | $33,950 | $835 plus 15% of the amount over 8,350 | | $33,950 | $82,250 | $4,675 plus 25% of the amount over 33,950 | | $82,250 | $171,550 | $16,750 plus 28% of the amount over 82,250 | | $171,550 | $372,950 | $41,754 plus 33% of the amount over 171,550 | | $372,950 | no limit | $108,216 plus 35% of the amount over 372,950 |
Married Filing Jointly or Qualifying Widow(er)| If taxable income is over-- | But not over-- | The tax is: |
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| $0 | $16,700 | 10% of the amount over $0 | | $16,700 | $67,900 | $1,670 plus 15% of the amount over 16,700 | | $67,900 | $137,050 | $9,350 plus 25% of the amount over 67,900 | | $137,050 | $208,850 | $26,637.50 plus 28% of the amount over 137,050 | | $208,850 | $372,950 | $46,741.50 plus 33% of the amount over 208,850 | | $372,950 | no limit | $100,894.50 plus 35% of the amount over 372,950 |
Married Filing Separately | If taxable income is over-- | But not over-- | The tax is: |
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| $0 | $8,350 | 10% of the amount over $0 | | $8,350 | $33,950 | $835 plus 15% of the amount over 8,350 | | $33,950 | $68,525 | $4,6755 plus 25% of the amount over 33,950 | | $68,525 | $104,425 | $13,318.75 plus 28% of the amount over 68,525 | | $104,425 | $186,475 | $23,370.75 plus 33% of the amount over1 104,425 | | $186,475 | no limit | $50,447.25 plus 35% of the amount over 186,475 |
Head of Household | If taxable income is over-- | But not over-- | The tax is: |
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| $0 | $11,950 | 10% of the amount over $0 | | $11,950 | $45,500 | $1,195 plus 15% of the amount over 11,950 | | $45,500 | $117,450 | $6,227.50 plus 25% of the amount over 45,500 | | $117,450 | $190,200 | $24,215.00 plus 28% of the amount over 117,450 | | $190,200 | $372,950 | $44,585.00 plus 33% of the amount over 190,200 | | $372,950 | no limit | $104,892.5 plus 35% of the amount over 372,950 |
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