We offer a complete array of accounting, taxation, and
consulting services, but small enough to know you
personally. We started 10 years ago and each of our
professionals offer impressive credentials and experience.
Whether you need accounting, tax planning, tax return
preparation, small business consulting, or a complement of
other individualized services, we will give you the full
resources you would expect only from a larger company
while maintaining a personal touch.
Tax Tips
You should ideally tend to your tax matters throughout the
year, but even if you haven't been doing so, it's not too late
to start. Here are some year-end tax tips:
1. If your attic is stuffed with junk, consider donating to
charity. Get a receipt and claim the gift as a deduction. This
will reduce the overall tax bill, but don't be extravagant in
valuing your donations. They should be valued at thrift
store/garage sale prices.
2. Many taxpayers don't realize that they can deduct mileage
for such charitable activities as delivering meals to seniors.
Money spent on meals associated with charitable volunteer
work may be deductible, but consult us first. Little things like
this underscore the need to keep accurate records.
3. Don't overlook valuable credits that might be available to
you. If you pay someone to care for your child who's younger
than 13 so that you can work, you might be eligible for the
Child and Dependent Care Credit. Another child related
credit the "Child Tax Credit" can save you $1,000 per
qualifying child younger than 17. There are education credits
for your dependent children or even yourself. The American
Opportunity Credit modified the Hope Credit in 2009,
increasing the savings from $1000 to $2500 and expanding
eligibility from the first two years at college to the first four
years. The Lifetime Learning Credit offers up to $1,000. We
can help you determine the appropriate credit for your
circumstances. Additionally, there are State and Federal tax
credits for individuals who make certain energy-conscious
improvements to their homes.
4. See whether your employer-sponsored retirement plan
permits you to make "catch-up" contributions at the end of
the year if your contribution level to date is less than the
maximum allowed.
5. If you believe that your tax bracket next year will be no
higher than this year, you're itemizing your deductions, and
you won't be bothered by any alternative minimum tax issues,
consider making your state and/or local tax payments before
the end of this year. You're going to owe the money anyway,
so if you pay now, you can take the federal tax deduction this
year.
6. Review your capital gains and losses. If you're looking at
substantial capital gains on which you'll be taxed in the
coming year, you might be able to sell some stock for a loss,
to offset some of the gain.
consulting services, but small enough to know you
personally. We started 10 years ago and each of our
professionals offer impressive credentials and experience.
Whether you need accounting, tax planning, tax return
preparation, small business consulting, or a complement of
other individualized services, we will give you the full
resources you would expect only from a larger company
while maintaining a personal touch.
Tax Tips
You should ideally tend to your tax matters throughout the
year, but even if you haven't been doing so, it's not too late
to start. Here are some year-end tax tips:
1. If your attic is stuffed with junk, consider donating to
charity. Get a receipt and claim the gift as a deduction. This
will reduce the overall tax bill, but don't be extravagant in
valuing your donations. They should be valued at thrift
store/garage sale prices.
2. Many taxpayers don't realize that they can deduct mileage
for such charitable activities as delivering meals to seniors.
Money spent on meals associated with charitable volunteer
work may be deductible, but consult us first. Little things like
this underscore the need to keep accurate records.
3. Don't overlook valuable credits that might be available to
you. If you pay someone to care for your child who's younger
than 13 so that you can work, you might be eligible for the
Child and Dependent Care Credit. Another child related
credit the "Child Tax Credit" can save you $1,000 per
qualifying child younger than 17. There are education credits
for your dependent children or even yourself. The American
Opportunity Credit modified the Hope Credit in 2009,
increasing the savings from $1000 to $2500 and expanding
eligibility from the first two years at college to the first four
years. The Lifetime Learning Credit offers up to $1,000. We
can help you determine the appropriate credit for your
circumstances. Additionally, there are State and Federal tax
credits for individuals who make certain energy-conscious
improvements to their homes.
4. See whether your employer-sponsored retirement plan
permits you to make "catch-up" contributions at the end of
the year if your contribution level to date is less than the
maximum allowed.
5. If you believe that your tax bracket next year will be no
higher than this year, you're itemizing your deductions, and
you won't be bothered by any alternative minimum tax issues,
consider making your state and/or local tax payments before
the end of this year. You're going to owe the money anyway,
so if you pay now, you can take the federal tax deduction this
year.
6. Review your capital gains and losses. If you're looking at
substantial capital gains on which you'll be taxed in the
coming year, you might be able to sell some stock for a loss,
to offset some of the gain.
Sheila Bunting, CEO
| 960 West Owens Las Vegas, NV 89106 702-266-4388-mobile 702-646-6365-office 702-646-6119-fax csnofficelv960@gmail.com |
CSN Tax Service
"We Keep You in the Green!"
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