Income Tax Lawyers in Pawtucket, Rhode Island

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The income tax in Pawtucket, Rhode Island is a tax imposed on all money earned and received during the year. Under federal law, income through any source may be taxed. The federal government has the authority to impose an income tax thanks to the 16th Amendment to the U.S. Constitution, enacted in 1916 after the Supreme Court had, on more than one occasion, found a federal income tax to be unconstitutional. Of course, before and after the creation of the federal income tax, states, including Rhode Island were allowed to impose income taxes of their own.

The federal income tax must be paid by everyone in the U.S. However, you must only pay the state income tax of the state you live in. You should talk with a financial adviser or tax Lawyer in Pawtucket, Rhode Island if you are not clear about what your state and federal tax liability.

Income Tax Deductions in Pawtucket, Rhode Island

A tax deduction is a reduction in the portion of a person's income that is taxable, resulting in a reduced tax liability. For example, suppose your income tax rate is 10%, and you had ,000 in income last year. If you received a ,000 tax deduction, your taxable income would be ,000, and you would have to pay 10% on that. So, it would lower your tax liability from to .

This should not be confused with a tax credit, which is a reduction of a person's tax bill. A tax credit almost always results in a reduced tax burden than a tax reduction of the same amount.

Lots of expenses that are common in Pawtucket are tax deductible. Federal tax deductions include mortgage interest, union dues, interest paid on mortgages, and others.

How Can A Pawtucket, Rhode Island Tax Attorney Help?

Income tax law can get fairly complex in Pawtucket, Rhode Island. If you have any questions about your income tax liability, you should not hesitate to speak with a tax Lawyer sooner, rather than later.

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Life in Pawtucket

Pawtucket is a city in Providence County, Rhode Island. It is the state's fourth largest city, with an approximate population of 71,200 people

Some popular attractions include Marconi Garden, Daggett House, Water Color Gallery, Daggett Farm, State Memorial Park,

Pawtucket has been in the media--believe it or not! In 1996, the film American Buffalo was filmed there. It has also been talked about in the popular cartoon Family Guy! Pawtucket has also had minor references in the films Outside Providence, Mermaids, and NBC sitcom "Nurses."

There are many attorneys who practice in Pawtucket. These attorneys practice in various areas providing security to local businesses and residents that their legal needs can be easily handled.