Convenient, Effective, and Affordable — Experience Tax Matter’s Income Tax Preparation Services For Your Individual Taxes
Filing your annual income taxes doesn’t have to be a pain. At Tax Matters, we take away the stress of tax season by providing excellent customer service in affordable income tax preparation. We know there are numerous online sites that provide free filing, but those services don’t always provide you with the peace of mind that all your information was submitted correctly.
Our team of professionals will make sure you feel secure knowing your personal income taxes are in good hands. We will also ensure you’re meeting state and federal regulations while working to maximize your refund.
We provide services in:
- Income tax planning: Long before the deadline to file taxes, Tax Matters can work with you to organize all of the needed documentation for a smooth filing. If you own multiple properties, are filing single for the first time, work more than one job, or have filed for unemployment, Tax Matters will sort through these factors to guarantee your taxes accurately reflect your earnings.
- Income tax filing: When tax season rolls around, all you have to do is give us a call and schedule an appointment. Before your appointment, we will confirm that you have all necessary forms such as W-2s provided by your employer, health insurance, receipts from work-related items, interest statements, mileage or other expenses that your work reimburses, as well as property statements. Then, we prepare your taxes.
- Estate or inheritance taxes: While Texas does not collect an inheritance or estate tax, if you were granted a property from someone who lived in one of the states or the District of Columbia that does collects this type of tax, then we can help you correctly file your gifts or inherited property. As of March 2018, these states still require an estate or inheritance tax:
|Both||Inheritance only||Estate only|
*We stay current with the IRS for any changes to regulations.
As of 2018, these are the tax brackets according to the IRS for individual Taxpayers:
|If Taxable Income is Between:||The Tax Due Is:|
|0 – $9,525||10% of taxable income|
|$9,526 – $38,700||$952.50 + 12% of the amount over $9,525|
|$38,701 – $82,500||$4,453.50 + 22% of the amount over $38,700|
|$82,501 – $157,500||$14,089.50 + 24% of the amount over $82,500|
|$157,501 – $200,000||$32,089.50 + 32% of the amount over $157,500|
|$200,000 – $500,000||$45,689.50 + 35% of the amount over $200,000|
|$500,001 +||$150,689.50 + 37% of the amount over $500,000|
That’s an example of what’s expected for 2018 for individual tax papers. For married individuals filing jointly with surviving spouses; married filing separately; or the head of the household, you can refer the IRS bulletin.
Getting the Most Out of Your Tax Refund
Here are a few ways we can help you get a maximum tax refund:
- File early. The sooner you file your income taxes, the sooner you can avoid making payments on other debts.
- Itemize. We encourage you to bring in receipts from the expenses made for work-related items over the past year. You can also bring reimbursement business expenses, charitable contributions, and casualty losses.
- Claim your friend or relative whom you’ve been supporting. If you’ve been supporting someone in need this year, you might be able to claim him or her on your taxes.
State vs. Federal Taxes
Knowing the difference between state and federal taxes is important to understanding how to file. Many El Paso residents commute to nearby cities for work and vice-versa and will need to file a return based on where they live and work. For example, if you live in El Paso but work in a surrounding city such as Las Cruces, you will need to file a non-resident state return for New Mexico.
Here are the main differences between state and federal taxes:
- State taxes. State taxes will be based on where you live, work, shop, and invest. The state of Texas does not impose an income tax; however, New Mexico does.
- Federal taxes. All US citizens must pay a Federal income tax and the amount that you owe each year is based on your income, therefore; the more money you earn, the more taxes you pay. While all citizens are required to file their Federal tax return. Certain groups such as low-income earners and children are exempt.
If you’re still unsure where and how you need to file, don’t worry — Our team will make sure you are meeting regulations and file based on where you live and work.
Contact Us Today to Get Your Income Taxes Organized.
Even when it’s not tax season, Tax Matters is here for you. We are opened year-round to serve your personal tax needs. Get in touch with us today to learn more about our services. We can be reached at 915-581-1040.