Tax Tools

Tax deductions are expenses that reduce the amount of income subject to tax. There are thousands tax deductions in tax code and regulations. Book an appointment today with an one of our ATC tax service experts!

Taxpayers are categorized into a tax bucket based on their filing status.

A standard deduction is the dollar amount that can be deducted from one’s income. Your standard deduction is determined based on your filing status. These amounts are governed by the IRS.

The standard deduction for the 2016 tax year

StatusDeductionBorn before January 2, 1951Blind
Single$6,300$1,550$1,550
Married Filing Jointly$12,600$1250 per spouse$1,250 per spouse
Married Filing Separately$6,300$1,200$1,200
Head Of Household$9,300$1,550$1,550
Qualified Widow(er) With Dependent Child$12,600$1,200$1,200

Itemized deductions allow you to deduct your expenses such as mortgage, interest, donations, medical expenses, and so forth. When the summation of your itemized deduction exceeds the value of your standard deduction, your total deduction amount begins to increase. Additional deductions can reduce the amount of income being taxed and increase your tax refund or diminish any tax liability.

Take advantage of our accurate tax preparation services at ATC. With superior understanding of the tax codes as well as state and federal deductions, our team of tax service professionals will assess your personal tax situation and help you find and claim all the credits and hidden tax deductions you qualify for and one’s that benefit you mostfrom one’s income. Your standard deduction is determined based on your filing status. These amounts are governed by the IRS.

Employee Business Expenses

If you itemize deductions and are an employee, you may be able to deduct certain work-related expenses.

Only employee business expenses that are in excess of 2% of your adjusted gross income (AGI) can be deducted.

Qualifying Business Expenses

Expenses that qualify for an itemized deduction include:

  • Business travel expenses
  • Business use of car
  • Business entertainment expenses
  • Business use of your home
  • Work-related educational expenses
  • Miscellaneous employee expenses

Affordable Care Act (ACA)

Affordable Care Act (ACA) and what it means for your taxes

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Have you heard about child tax credit?

Here is a short checklist for you to know and learn everything on how you and your kid can qualify for the child tax credit. Click here: https://t.co/DjQYtj7rCL

Have you heard about child tax credit?  Here is a short checklist for you to know and learn everything on how you and your kid can qualify for the child tax credit. Click here: https://t.co/DjQYtj7rCL

Friday Fun Fact

Form 1040 has been replaced with a new look. The New Tax Form is now Postcard-Size reducing from 79 lines down to 23 lines.

The goal is to simplify and for the millions of taxpayers could save a bit of time on their filings this year.

Do you agree on thi

Friday Fun Fact  Form 1040 has been replaced with a new look. The New Tax Form is now Postcard-Size reducing from 79 lines down to 23 lines.  The goal is to simplify and for the millions of taxpayers could save a bit of time on their filings this year.  Do you agree on thi

SPECIAL THANK YOU: to all the wonderful customers we've served over the years (150K+ tax returns filed). This year we got over the 10,000 tax returns mark. It is truly a pleasure and a privilege and we are most grateful to ALL of YOU - our valued customers!

SPECIAL THANK YOU: to all the wonderful customers we've served over the years (150K+ tax returns filed). This year we got over the 10,000 tax returns mark. It is truly a pleasure and a privilege and we are most grateful to ALL of YOU - our valued customers!

Our ATC tax experts are ready to assist you all the way. Get in touch and connect with us right now.

Find your nearest ATC office and make an appointment today.

https://t.co/1sza246SWm

Our ATC tax experts are ready to assist you all the way. Get in touch and connect with us right now.  Find your nearest ATC office and make an appointment today.  https://t.co/1sza246SWm

1.1 M
Tax Returns get audited every year.

Get Accuracy, Assistance, and Audit protection---the ATC triple promise that your return will be done right. And will be right by your side if you are audited by the IRS.

1.1 M 
Tax Returns get audited every year.  Get Accuracy, Assistance, and Audit protection---the ATC triple promise that your return will be done right. And will be right by your side if you are audited by the IRS.

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