CPA Tax Solutions, LLC

Solutions for one of life’s certainties.

Learn More

CPA Tax Solutions, LLC

Solutions for one of life’s certainties.

Learn More

CPA Tax Solutions, LLC

Solutions for one of life’s certainties.

Learn More

CPA Tax Solutions, LLC

Solutions for one of life’s certainties.

Learn More

Hamden Office

375 Mather St.
Hamden, CT 06514
tel: 203-248-8600
fax: 203-248-5900

Madison Office

Oak Park
149 Durham Rd. Ste. 25
Madison, CT 06443
tel: 203-245-7110
fax: 203-245-7510

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Tax and Accounting Services

We offer a full spectrum of services aimed at making your life easy. Learn more today.

Visit Our Tax Center

Tax planning & preparation can be challenging for everyone. Let us handle that work for you. Read more here.

professional team at cpa tax solutions

Tax Preparation Services at CPA Tax Solutions, LLC

At CPA Tax Solutions, LLC, we specialize in tax preparation services, business tax planning, business accounting, and more. Our professional team can offer you both personal and business services. Just ask us how we can help you today.

Besides traditional tax preparation, we also specialize in IRS audit-representation, wage garnishment, back taxes and more. Explore our website today to learn more about our available services and our client-focused team.

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You don't have to itemize to claim these deductions on your 2016 return

Can't itemize? You can still claim some expenses on your 2016 federal income tax return. Here's how you can benefit.

* IRA and HSA contributions

If you made a contribution to your traditional IRA for 2016, or if you plan to make a 2016 contribution by April 18, 2017, you may qualify to deduct up to the maximum contribution amount of $5,500 ($6,500 if you're age 50 or older). Income limitations apply in some cases, and you can't deduct contributions to Roth IRAs.

Health Savings Accounts (HSAs) are IRA-like accounts set up in conjunction with a high-deductible health insurance policy. The annual contributions you make to your HSA are deductible. Contributions are invested and grow on a tax-deferred basis, and you're allowed to withdraw money in the account tax-free to pay for your unreimbursed medical expenses. For 2016, you can deduct up to the contribution limit of $3,350 if you're filing single and $6,750 when you're married filing jointly. You may also be able to deduct an additional $1,000 if you were age 55 or older and made a catch-up contribution to your HSA.

* Student loan interest and tuition fees

Deduct up to $2,500 of interest on student loans for yourself, your spouse, and your dependents on your 2016 return. For 2016 returns, you can also deduct up to $4,000 of tuition and fees for qualified higher education courses. Income limitations apply, and you must coordinate these deductions with other education tax breaks.

* Self-employment deductions

If you're self-employed, you can generally deduct the cost of health insurance premiums, retirement plan contributions, and one-half of self-employment taxes.

* Other deductions

Alimony you pay, certain moving expenses, and early savings withdrawal penalties are also deductible on your 2016 return, even if you don't itemize. Teachers can deduct up to $250 for classroom supplies purchased out-of-pocket in 2016.
Contact our office for more information on these and other costs you may be able to deduct on your 2016 tax return.

#2016taxes #deductions #itemizing #claimingexpenses
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3 days ago

You dont have to itemize to claim these deductions on your 2016 return

Cant itemize? You can still claim some expenses on your 2016 federal income tax return. Heres how you can benefit.

* IRA and HSA contributions

If you made a contribution to your traditional IRA for 2016, or if you plan to make a 2016 contribution by April 18, 2017, you may qualify to deduct up to the maximum contribution amount of $5,500 ($6,500 if youre age 50 or older). Income limitations apply in some cases, and you cant deduct contributions to Roth IRAs.

Health Savings Accounts (HSAs) are IRA-like accounts set up in conjunction with a high-deductible health insurance policy. The annual contributions you make to your HSA are deductible. Contributions are invested and grow on a tax-deferred basis, and youre allowed to withdraw money in the account tax-free to pay for your unreimbursed medical expenses. For 2016, you can deduct up to the contribution limit of $3,350 if youre filing single and $6,750 when youre married filing jointly. You may also be able to deduct an additional $1,000 if you were age 55 or older and made a catch-up contribution to your HSA.

* Student loan interest and tuition fees

Deduct up to $2,500 of interest on student loans for yourself, your spouse, and your dependents on your 2016 return. For 2016 returns, you can also deduct up to $4,000 of tuition and fees for qualified higher education courses. Income limitations apply, and you must coordinate these deductions with other education tax breaks.

* Self-employment deductions

If youre self-employed, you can generally deduct the cost of health insurance premiums, retirement plan contributions, and one-half of self-employment taxes.

* Other deductions

Alimony you pay, certain moving expenses, and early savings withdrawal penalties are also deductible on your 2016 return, even if you dont itemize. Teachers can deduct up to $250 for classroom supplies purchased out-of-pocket in 2016.
Contact our office for more information on these and other costs you may be able to deduct on your 2016 tax return.

#2016taxes #deductions #itemizing #claimingexpenses

Solutions for One of Life’s Certainties

Although we provide a wide range of traditional services for both business and individual clients, we specialize in negotiating with the IRS on your behalf and navigating through complicated IRS correspondence, estate and gift tax services, as well as financial planning.

tax preparation services at cpa tax solutions

Individual Tax Services

We can offer you personal tax preparation services including individual filing and tax planning. The advisers at our Hamden and Madison offices will recommend the best practices for filing your individual tax return and help assist you through every step of the process. Filing your taxes will be smooth sailing with the help of our certified professionals!

Business Tax and Accounting Services

Our certified business accounting team provides resources for businesses such as tax preparation services, tax planning, small business accounting, financial statements, strategic business planning, and new business formation. We also offer QuickBooks services including setup and training. With the help of our business tax advisers, your business will be ready for quarterly reports, year-end taxes, and you will stay financially informed.

Specialized Tax Services

Besides traditional tax preparation services we can also help you with several other services to help make financial planning easier for you or your business. We are prepared to negotiate with the IRS on your behalf regarding IRS audits, liens and levies, wage garnishment, offers in compromise, innocent spouse relief, and installment plans. Our expert team can also be of assistance with non-filed tax returns, owed back taxes, and payroll tax problems. Don’t be intimidated by that dreaded IRS letter. Let our team make things easy for you.

Begin Planning Today

Check out our Resource Library to begin your tax preparations today. Then, give us a call to begin securing a wealthier financial future for you or your business.

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Stay Informed & Up-To-Date

Each month, we will give you tips and useful information to help you protect your finances, begin planning on ways to save for your future, or how to begin preparing your taxes. Our goal is to help you get the information you need for a financially savvy today and tomorrow. So sign up for our monthly client newsletter today to stay up-to-date with news from our office and to receive special offers from our team. 


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