He also provides full service bookkeeping services, Sales and Use Tax filings and Audit Defense with Federal(IRS) and State Tax Authorities. 2. The penalty if you don't have health insurance (and didn't receive an exemption) has been eliminated. However, you still have to reconcile for premium tax credits if you received advance premium tax payments.
3. The threshold for deducting qualifying medical and dental expenses has risen from 7.5% of your adjusted gross income (AGI) to 10%, making it harder to deduct those expenses. So, if your AGI is $60,000, you could only deduct those qualifying expenses that exceed $6,000. Less? You're out of luck. As a CPA, it is my duty to provide the most ethical services to my clients, in the most cost effective manner.
3. The threshold for deducting qualifying medical and dental expenses has risen from 7.5% of your adjusted gross income (AGI) to 10%, making it harder to deduct those expenses. So, if your AGI is $60,000, you could only deduct those qualifying expenses that exceed $6,000. Less? You're out of luck. As a CPA, it is my duty to provide the most ethical services to my clients, in the most cost effective manner.
Services
This is a very subjective question as everyone's tax situation is a little different and unique. Unfortunately I cannot go with a "one size fits all" example here. In order to give you an accurate price for my services I need to know a little more about your business and what services you're interested in.
Self-Employment Taxes - If you are self-employed, operate a farm or are a church employee use this calculator to determine your self-employment taxes. Marginal and Effective Tax Rates - Use this calculator to find out the tax liability impact of that unexpected income, IRA draw or investment income.
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John Anello
Dec 23, 2020
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