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Tax Preparation Services

Individual Tax Preparation Services
Personal tax return preparation is our speciality.  We have studied the law changes, so you don't have too.  We know about all of the new tax credits, some of these include:

  • First time home buyers credit EXTENDED - (also available to those that haven't owned a home in 3 years), buy a home in 2009 (or by April 30, 2010) and take the credit on your 2009 or 2010 tax return, your choice.  If you have owned and lived in your home for 5 out of the last 8 years, and purchased a new home before April 30, 2010, you may qualify for the long-term home buyers credit extension.  This credit could be up to $6,500.
  • Residential energy property credit - The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010.
  • Residential energy efficient property credit - This nonrefundable energy tax credit will help individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, geothermal heat pumps and wind turbines.
  • Additional child tax credit - For tax years beginning in 2009 and 2010, the minimum earned income to calculate the credit is reduced to $3,000.  This allows more taxpayers to take advantage of the credit.  Additionally, this is a refundable credit, so you may receive refunds even when you don't owe any tax.
  • The American Opportunity Credit - increases the Hope scholarship credit for years 2009 and 2010.  The income limits have been raised, so more taxpayers will be eligible for the credit.  It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed over 4 years instead of 2.
Expatriate / Foreign National Tax Services 
U.S. citizens working abroad encounter many tax issues related to their assignment.  Whether they are working for a foreign affiliate of a U.S. Company, a foreign entity, or self-employed, the rules are complicated.  We have over 16 years experience working with both the expat employee and the self-employed expat.  We can help you determine if you qualify for the Foreign Earned Income Exclusion, or if the Foreign Tax Credit might be a better option for you. 

Foreign Nationals living and working in the U.S. have a totally different set of rules, which fall under the Income Tax Treaties.  We can help you determine if you should file as a Non-Resident, Dual-Status, or full year Resident.  Do you know what income may be excluded from your U.S. return?  We do, give us a call.

Self-Employed Individuals
We understand the issues of the self-employed individuals. We can, assist you with rules for deducting home office expenses, and other business expenses.  As a self-employed individual, you now need to make quarterly estimated tax payments, we can help you calculate the amount to pay each quarter.  Should you set up a SEP-IRA?  Or a Roth IRA?  These are questions we can help you answer.

Small Business Tax Preparation
The small business owner faces their own set of rules.  We can assist you with determining if the people working for you are employees or contractors.  Should you withhold payroll taxes?  How are the withholdings remitted?  Need assistance with bookkeeping?  These are issues that need to be addressed, let us help you.  There are credits available for businesses too:

  • Work Opportunity tax credit - adding returning veterans or "disconnected youths" and any of 10 other groups to your payroll can generate credits for your business. 
  • Net Operating Loss Carryback- the new tax act extended the time period for NOL carrybacks for certain small businesses from 2 years to 3,4 or 5 years.
  • Reduction of Estimated Tax Payments - normally small businesses have to pay 110% of their prior year tax in estimated tax payments, but the new tax act reduced this to 90% of the prior year tax.

Electronic Filing of Tax Returns
We proudly offer electronic filing for most types of returns.  Electronic filing protects you against data entry errors that can be made at the IRS.  It also ensures that you get your refunds faster.  By using Direct Deposit for those refunds, you can generally get them within a few weeks.  Please ask us if your return qualifies for e-File.

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*** WRIGHT TAX SOLUTIONS, LLC ***
** P.O. Box 670013 * Marietta, Georgia 30066 * Phone: (770) 841-9301  * CathyW@WrightTaxSolutions.com**