Most Effective Accounting Services Including Income Tax Preparation Chicago
Does tax season make you feel nervous? If so, you’re not the only one, and it doesn’t have to be that way. GLG Accounting has expertise in income tax preparation Chicago, and we can handle the most complicated situations. We know that preparing and filing of an income tax return can be stressful, which is why we’re here to take care of it for you.
Types of Income
Any money you make is considered income, and you must report it on your tax return. This can include, but may not be limited to:
- Wages and salaries
- Earned interest
- Dividend income
- Business income
- Capital gains
- Rental income
- Farming and fishing income
There are other types of income, and they are reported in different ways. In short, every earning resident and non-resident American is bound for the submission of his or her income tax return annually.
Deductible Expenses–Keep these items in mind during Tax Preparation
You can deduct certain expenses on your income tax return, and you can use them to reduce your taxable income. Some of these can include, but may not be limited to:
- Business expenses
- Medical and dental expenses
- Interest expenses
- Charitable contributions
Some deductions are itemized, and some are not. So, you should know the difference between the two. Itemized deductions give you the option to take it as a standard deduction, but using the itemized option might lower your tax bill even further. However, there are some circumstances where you won’t be able to itemize. Some of these include, but may not be limited to:
- If you are married filing separately
- If you filed a return within twelve months of your last one
- If you are a non-resident alien during that tax year
- If you are filing as an estate or trust
If the itemized option is available in your case, you want to take it if the deductible amount is greater than that standard deduction.
Use our Tax Preparation Services for Saving Money!
GLGAccounting is already assisting hundreds of taxpayers in saving thousands of dollars annually. Our tax preparation services are the best in town. With the help of the technology, we are now available to assist our clients online. Want to proceed with Online Tax Preparation? Just contact us to talk with our professional tax preparer now! Remember: Nothing could be secured without the preparation and the submission of an income tax return!
Tax credits are another way for you to lower your tax bill. Unlike deductions, they’re fixed amounts that you can claim on your return, and each one has its own set of qualifications.
Some of the common tax credits include, but may not be limited to:
- Earned Income Credit
- Child and Dependent Care Credit
- Adoption Credit
- Retirement Saving Contributions Credit
- First-Time Homebuyer Credit
- Premium Tax Credit
To see if you can qualify for these and other tax credits, be sure to speak to a professional income tax preparer.
Free Tax Preparation for Maximum Back Taxes
Do you know about the possibility of claiming back your money from the IRS? A professional tax preparer could bring more savings in terms of back taxes. It is your legal right! Several income tax preparation services are offering their clients with special services for letting them save more money. Just google, “Income Tax Preparation near me” and you will be astonished to see the results. Our firm is offering premium tax preparation services and at a very competitive price. So, just contact us and let us evaluate your case to see how much money is recoverable on account of back taxes. Hire us for the preparation and submission of your annual tax returns. We will provide you with FREE services for optimizing your returns for more back taxes!
Income Tax Preparation Chicago for Couples, Families, and Individuals
You need to be smart about who you hire to do your taxes. While a tax preparer is responsible for the accuracy of your return, you are still liable for any errors or misrepresented information. You want to make sure the person you hire has a good understanding of tax regulations, and you want to be wary of any dishonest practices.
Regardless of your tax needs, GLG Accounting can take care of it. We can handle any project – both big and small. That’s why, when it comes to income tax preparation Chicago has trusted us year after year. We have helped many people in the time we’ve been in business, so you can be sure that everything will be documented and filed correctly. Our customer tailored tax preparation services are now available online as well. Please use the telephone numbers listed on “contact us” page for booking a FREE consultation session now!
You shouldn’t have to worry about a mistake that can cost you extra money. Interest and penalties can incur if you miss a deadline, and they can add up quick. That’s why we will store your information for up to five years, as it will make sure the documentation is ready when you need them. We take a more personal approach to tax preparation, and this extra step has made us one of the best companies for income tax preparation in Chicago.
Your Financial Future is Important to Us
Every member of our team goes through continuous training, and they stay up-to-date on the latest regulations and policy changes. The only way our firm can stay ahead of the market is if we are committed to getting results for our clients while offering them an extra layer of protection. This has allowed us to do what many firms can’t deliver, and we plan on doing more as time goes on.
Contact Now for Online tax preparation
Yes! GLG Accounting is ready to collaborate online. Individuals and businesses can contact us online for income tax preparation.
GLG Accounting wants to help you with all aspects of income tax preparation. So, get in touch with us today to schedule a FREE consultation!