North Carolina income taxes differ slightly from the income taxes of the surrounding states. For instance, North Carolina used to allow taxpayers to take all the itemized deductions that the Federal IRS allowed. The State of North Carolina made some changes to the Tax Code when the Tax Simplification and Reduction Act was signed into law on July 23, 2014. The first provision that I noticed was that North Carolina residents are being taxed at a lower rate and being given a higher standard deduction than was normal for previous years. However, at the same time, the number of itemized deductions was reduced. Instead of taking all the deductions the Federal IRS allows, North Carolina residents are only allowed three major categories:
This means that the standard deduction allowed North Carolina Residents may be larger than the total of the amount you can take as an itemized deduction. In addition, North Carolina's IRS has changed the rules since 2013. If you owe taxes in North Carolina, then you need to talk to a Tax Preparer. The Tax Preparer is required to pass the IRS minimum education requirements every year in order to remain a Tax Preparer. These individuals are actually at the lowest level of Tax Professional and are not allowed to represent anyone whose tax return was not actually signed by them. However, if you don't know any Tax Preparers, then you should talk to Wealthy Living For Me in Durham, NC. The people there run a website, called WealthyLivingForMe.com. If you go to that website, they will be able to refer you to the appropriate Tax Preparation Professional. Professional Tax Preparation is practiced by more than the Tax Preparers. There are also accountants and lawyers who deal with taxes on a year-round, professional basis and who will be happy to be around after tax season is over.
Wealthy Living For Me in Durahm, North Carolina is a voluntary association of Tax Professionals. As such, the professionals associated with Wealthy Living For Me are well acquainted with the needs of their clients in North Carolina and are well-versed in the current regulations that are being used by North Carolina's IRS.
The professional tax preparers at Wealthy Living For Me in Durahm, NC are also well-versed in business taxes and regulations applying to businesses, like employee withholding and employee pay rates. The information you can obtain from a tax professional such as those associated with Wealthy Living For Me will be well worth the minimally extra time and expense. The Tax professional you go to will be able to answer questions such as:
The Tax Professionals associated with Wealthy Living For Me in Durahm, NC are well-versed in the answers to all these questions and more. They are also professionals, which means that they will be available to you long after income tax season is over. There are other matters that these professionals can help you with. From business taxes, which run all year round, to employee withholding and quarterly payments to the IRS, these tax professionals know the answers. Every year, some people in North Carolina need to make an application to the state for a new account number. Our professionals at Wealthy Living For Me have been through that process, unlike the tax preparers who are hired in December and laid off in April. The professional tax experts at Wealthy Living For Me have the experience and the know-how to make income tax season as stress-free as possible. Call us and tell us what your needs are! Do you need a simple tax form, or do you have pension plans that are paying out to you? Do you need to pay your employee's pension plan? Wealthy Living For Me has the people with the experience to give you the answers you need.
Even if you're involved with a dispute with either the Federal IRS or with the State of North Carolina's IRS, we can still help you. Both the state IRS and the Federal IRS have some nasty weapons at their disposal. We have the people who have the ability and the willingness to fight for you to get your tax, penalties, garnishments, and additional tax levy's minimized or dismissed. Since they are tax professionals, they can get through to the North Carolina State IRS even when you cannot through the Tax Professionals Priority Service line. There are many other ways that we can help you manage your taxes and finances. Contact us today and see what we can do to help you.
We can also direct you to life-coaches who can help you live the wealthy life, even if you aren't.
Cassandra Collins-Patterson