ELIZABETH CAMPHOR CPA PC

Enjoying friends at the MWC MLK Prayer Breakfast. Our Keynote speaker was none other than a beautiful & blessed lady Col. Stephanie Wilson.

Former IRS Commissioner Douglas Shulman appeared on C-SPAN's Newsmakers in 2010, where he said he'd used a tax professional for years. "I find it convenient. I find the tax code complex so I use a preparer," he said.

Bob Dole once said, "The purpose of a tax cut is to leave more money where it belongs: in the hands of the working men and working women who earned it in the first place."

Your chances of being audited by the IRS are pretty slim but the odds are always there and audits can still take place. When that happens, you’ll benefit from the expert assistance of a tax preparation and planning expert.

What is a “sin tax”? Legally called excise taxes, these “sin taxes” are imposed on alcohol, to***co, and gambling. Rhode Island, Nevada, West Virginia, New Hampshire and Delaware account for the largest share of sin tax revenues.

Do you want to free up yourself from U.S. tax obligations if you currently live abroad and pay taxes there? There are two options – renouncing your U.S. citizenship or abandoning your green card holder status.

If you have made upgrades to your home or other structures that have improved their energy efficiency, you may be eligible to take deductions on what was done. In addition, if you have invested in certain energy efficient appliances, deductions may apply for them also.

If you can't afford to pay any taxes by April 15, you can obtain an automatic extension for submitting Form 1040 by filing Form 4868 instead. However, a reasonable estimate of the balance due must be provided.

Coordinating federal and state tax returns requires an informed approach. While a deduction may save money on your federal form, it may cost you more on your state form. Our team will show you all the options and their impact.

Do you know that as of 2020, seven states in the U.S. levy no personal income tax? These states are Florida, Alaska, Nevada, Texas, South Dakota, Washington, and Wyoming.

Is your business going through a down period? A qualified tax planning and preparation service has the skills to help minimize the financial impact of your taxes.

Nobody likes ever having to go through an audit. But when such time does come, you can rest assured because your tax preparation and planning expert will provide you the assistance you need to prepare the paperwork and important forms.