Bottom Line Tax and Accounting is a trusted team of accountants with a love of the business.
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The thought of preparing and filing an income tax return can be a source of stress. The team at Bottom Line is here to make the process easy and rewarding. The best approach to tax season is to provide accurate information in a timely fashion. Bottom Line tax professionals know exactly what forms must be filed for your particular situation and the best approach to saving you money at tax time.
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Taxable Income
Money that you make is considered taxable income and must be reported to the IRS. For example:
Deductible Expenses
Expenses that you have incurred through out the year can be used to reduce your taxable income. For example:
Tax Credits
Tax credits are fixed amounts that you may be able to claim on your return which will lower the amount that you pay in taxes. For example:
Money that you make is considered taxable income and must be reported to the IRS. For example:
- Wages and salaries
- Business income
- Earned interest
- Dividend income
- Rental income
- Capital gains
Deductible Expenses
Expenses that you have incurred through out the year can be used to reduce your taxable income. For example:
- Business expenses
- Medical and dental expenses
- Interest expenses
- Charitable contributions
Tax Credits
Tax credits are fixed amounts that you may be able to claim on your return which will lower the amount that you pay in taxes. For example:
- Earned Income Credit
- Child and Dependent Care Credit
- First-Time Homebuyer Credit
- Retirement Saving Contributions Credit
- Premium Tax Credit
