Bill Mc Cracken Accounting

Please call our office for assistance. Personal taxes are based on income minus deductions, either the Standard Deduction or Itemized Deductions. Some taxpayers qualify for tax credits which may further reduce their tax. All taxpayers must gather documents reporting income received during the tax year such as wages, unemployment, interest, dividends, stock sale proceeds, pension/retirement account distributions, Social Security, gambling winnings, income from "side" or casual jobs, self-employment income, rental property, alimony received, distributions from partnerships, corporations and estates, etc. Barter and trade for services or product must also be reported as income.

TAX FRAUD will rob you of precious dollars. The IRS NEVER uses email or telephone calls to tell individual taxpayers that they owe money and must pay immediately. You are always entitled to representation by a tax professional and/or attorney in order to determine the validity of the "claim". DO NOT respond to these emails and DO NOT engage in conversation when a fraudster calls.

To be eligible, the expenses must have been paid during the tax year. Proper documentation is required in order to take any deduction. To itemize deductions on your Federal Tax Return, you need to have enough to exceed the Standard Deduction Amount for your filing status. Glasses, Contact Lens, Hearing Aids, Dentures, Medical Equipment, some medical comfort items required for patient care. Certain tuition costs for children with medically-diagnosed disabilities when the main reason is to overcome the disability.