Income Tax Solutions with Honest Tax Solutions
The IRS employs a complex set of rules and regulations regarding reportable and taxable income, deductions and credits. Honest Tax Solutions offers year round income tax support, consulting, preparation and filing.
Income Tax Expertise
Income tax was first imposed in the United States during the War of 1812. Its original purpose was to fund the repayment of a $100 million debt incurred from war-related expenses. After the war, the tax was repealed and then reinstated during the early 20th century.
Today, the Internal Revenue Service (IRS) collects taxes and enforces tax law. As an individual and/or business owner, it is complicated to fully understand what taxes you need to pay and when and where to pay them to. The tax codes are ever changing, and as your personal and professional status evolves, the strategies that are best for your taxes can change too.
Honest Tax Solutions has experts in income tax planning, strategies and filing. We are open year round to support and work for you to optimize your tax savings options.
Business Income Taxes
Do you own a business? Multiple business? Local? National or even international?
Honest Tax Solutions has clients in almost all 50 states and supports several international companies.
Businesses pay income taxes on their earnings; the IRS considers corporations, partnerships, self-employed contractors and small businesses as taxable entities.
Your business is unique, and as such, the tax obligations you will have will be different than other companies.
State and Local Income Tax
Most U.S. states collect income taxes. As of 2019, there are seven states with no income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
New Hampshire and Tennessee do not tax earned income; however, they do tax interest and dividend income.
California does levy income taxes.
Honest Tax Solutions has experience with businesses in California, across the U.S.A. and internationally.
Individual Income Tax
Due to exemptions, deductions and credits, most individuals do not pay taxes on their total income.
When is the last time you had a tax professional review your income tax filing? Our firm has recovered millions overpaid to the government from faulty filings by less qualified tax professionals.