Income Tax Lawyers in South Tucson, Arizona

Income Tax Attorneys in South Tucson, AZ

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In South Tucson, Arizona, an income tax is imposed on a certain percentage of the income of all individuals and businesses. Usually, income from all sources can be taxed. The federal government has the power 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 Arizona were free to impose income taxes of their own.

The federal income tax must be paid by everybody 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 attorney in South Tucson, Arizona if you are not clear about what your state and federal tax liability.

You might have heard rumors claiming that you don't actually have to pay your federal income tax. These rumors are false. "Tax protesters" rely on bizarre and discredited legal arguments in their claims that the federal income tax is somehow illegal. None of these arguments have ever been successful in U.S. Courts, and deliberately failing to pay your income tax in South Tucson, Arizona is a good way to end up in federal prison.

Income Tax Deductions in South Tucson, Arizona

A tax deduction is a reduction in your taxable income. For example, if a person makes $50,000 per year, and receives a $2,000 tax deduction, they will only have to pay taxes on the remaining $48,000.

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 lower tax burden than a tax deduction of the same amount.

Many common expenses in South Tucson can be deducted from your taxable income. They include mortgage interest, charitable donations (if property documented, of course), the cost of tax advice, union dues, and many others.

If your state imposes an income tax, some or all of these expenses might be deductible, as well. However, this will depend on the law of Arizona

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How Can A South Tucson, Arizona Tax Attorney Help?

Income tax laws can get quite complex, especially when large amounts of money from multiple sources are involved. It would not be a bad idea to call a South Tucson, Arizona tax attorney to avoid the consequences of under-paying, and to prevent you from over-paying.

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