Marta Torres Tax Relief
Marta Torres- Tax Relief
Finding Tax Relief Through Exemptions and Government Programs
Many tax payers in the United States need the tax relief options that are presented through federal programs. Marta Torres, along with her Liberty Taxes and Business Services partners, help these tax payers receive the benefits they are due. If you are in a financial hardship and need tax relief, contact her office to speak to a qualified Tax Preparer or accountant about your unique situation.
What is Tax Relief?
Tax relief comes in many forms. For those who cannot file their taxes by the deadline, or who cannot afford to pay the taxes they owe, there are federal programs that can help you avoid penalties. For others, tax relief can come in the form of …show more content…
Lowering this income total is the key to paying less taxes, as the percentage you are taxed is based on that magic number. Adult tax payers, who cannot be claimed as a dependent by anyone else, always have the ability to claim one personal tax exemption, themselves. Additionally, married couples who cannot be claimed as dependents may claim two personal tax exemptions, as long as they are filing a joint tax return.
Dependent Tax Exemptions
Aside from claiming a personal tax exemption, many adults can also claim exemptions on their dependents. To qualify, those dependents must meet certain criteria. Children are the most common dependents claimed. Your child must be under the age of 19, and live with you for more than six months of the year. Children under the age of 24 who are full time students may also be claimed as a dependent, even if they reside in student housing. In some cases, the dependents you claim for tax exemption may include other people who are not your children, such as elderly parents or relatives that you support.
State and Local Tax …show more content…
This could come in the form of leniency on one's property taxes or sales tax. To qualify for these exemptions, the business owner must meet specific state mandated regulations. In other cases, the general tax payer find relief from the state tax through tax holidays. These are common during the month leading up to the start of the public school year, offering tax free days on purchases related to back to school items.
Tax Exempt Businesses and Organizations
The purest form of tax relief comes in the form of tax exemption status. This is only applicable to non-profit and charitable businesses or organizations. An entity whose sole purpose is to better the community or nation must file for this tax exemption status with the Internal Revenue Service. If granted, then the charity does not have to pay any state, local, or federal taxes. Churches are a common example of tax exempt organizations.
Being Deemed
Finding Tax Relief Through Exemptions and Government Programs
Many tax payers in the United States need the tax relief options that are presented through federal programs. Marta Torres, along with her Liberty Taxes and Business Services partners, help these tax payers receive the benefits they are due. If you are in a financial hardship and need tax relief, contact her office to speak to a qualified Tax Preparer or accountant about your unique situation.
What is Tax Relief?
Tax relief comes in many forms. For those who cannot file their taxes by the deadline, or who cannot afford to pay the taxes they owe, there are federal programs that can help you avoid penalties. For others, tax relief can come in the form of …show more content…
Lowering this income total is the key to paying less taxes, as the percentage you are taxed is based on that magic number. Adult tax payers, who cannot be claimed as a dependent by anyone else, always have the ability to claim one personal tax exemption, themselves. Additionally, married couples who cannot be claimed as dependents may claim two personal tax exemptions, as long as they are filing a joint tax return.
Dependent Tax Exemptions
Aside from claiming a personal tax exemption, many adults can also claim exemptions on their dependents. To qualify, those dependents must meet certain criteria. Children are the most common dependents claimed. Your child must be under the age of 19, and live with you for more than six months of the year. Children under the age of 24 who are full time students may also be claimed as a dependent, even if they reside in student housing. In some cases, the dependents you claim for tax exemption may include other people who are not your children, such as elderly parents or relatives that you support.
State and Local Tax …show more content…
This could come in the form of leniency on one's property taxes or sales tax. To qualify for these exemptions, the business owner must meet specific state mandated regulations. In other cases, the general tax payer find relief from the state tax through tax holidays. These are common during the month leading up to the start of the public school year, offering tax free days on purchases related to back to school items.
Tax Exempt Businesses and Organizations
The purest form of tax relief comes in the form of tax exemption status. This is only applicable to non-profit and charitable businesses or organizations. An entity whose sole purpose is to better the community or nation must file for this tax exemption status with the Internal Revenue Service. If granted, then the charity does not have to pay any state, local, or federal taxes. Churches are a common example of tax exempt organizations.
Being Deemed