Tax Planning For Fresno County Businesses

March 10, 2017

Deductions and Credits for Businesses and Homeowners

Tax Deduction 1 Clovis, Ca

Preparing proper deductions and credits are important in lowering your taxable income as well as your taxes. Valley Tax Law can help you with this. We are available and eager to help you.

Some of the new tax law topics Include:

  •        Alimony Tax Deductions – be able to report the total amount of alimony paid during the year.
  •        The American Opportunity Tax Credit – This is a $4000 refundable tax credit available to students in exchange for 100 hours community service.
  •        Mortgage Insurance Premium Tax Deduction – Mortgage insurance premiums issued after 2006 may be tax deductible.
  •        Standard or Itemized – you choose the that suits you the best.
  •        A redeemable tax credit of up to 7500 for the purchase of a primary residence Additional Standard Deduction for Property taxes – The Housing Assistance Tax Act of 2008.
  •        Sales Tax Deductibles – Filers who choose to itemize expenses on Schedule A while receiving sales tax deduction. Two ways will be available for them to determine the amount of the sales tax deduction.
  •        Energy Tax Credits – Latest ways of minimizing an investor’s taxable income.
  •        Making Work Pay Tax Credit – a refundable tax credit up to $400 for the years 2009 and 2010  returns
  •        Vehicle Sale Tax Deduction – Available for new automotive purchase made between February 17, 2009, and December 31, 2009; not a day earlier or later.

Tax Attorney 1 Clovis, Ca

Irx Tax Law 3 Clovis, Ca

  •        Earned Income Tax Credit (EITC) – Depending on your income and the number of children you can qualify for EITC.  If you are separated from your spouse, you may be eligible for the special Head of Household rule.

Contact Valley Tax Law offices in Clovis today to book your tax appointment. Keep in mind that as a taxpayer, you have a complete legal right to be represented by a tax attorney of your choice.

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