Preparing your own income tax return can be a daunting task that leaves you with more questions than answers.
Today's tax laws are so complicated and frequently changing that filing a return can be confusing. It is easy to overlook deductions and credits to which you are entitled--even with the use of computer software. There is no substitute for the assistance of an experienced tax professional. Let the team at WCA be your personal tax professionals.
Are your books adequate to support the preparation of your tax return? If not, we can help. We'll clean up your bookkeeping for the year and prepare any applicable tax returns. Then we'll assist you in making sure your books are properly maintained so you can always have accurate snapshots of your business performance and correct information needed for essential financial and tax planning.
Home Office Deduction Simplified!
New for the 2014 tax year, taxpayers with a qualifying home office will have the ability to calculate their deduction in a much simpler way. You simply take the number of square feet in the home office and multiply it by $5.00 to get the deduction amount. There is one small limitation: it is only up to 300 square feet or a $1,500 deduction. You can still use the old method of allocation if the deduction is more advantageous. If you have a home office, contact WCA today so we can advice you on which method is best for you!
430 Chestnut Street, 4th Floor
Chattanooga, TN, 37402