Income Tax Lawyers in New Orleans, Louisiana

Find the right Income Tax attorney in New Orleans, LA

In New Orleans, Louisiana, income tax is imposed on most sources of income that a person receives in a certain year. Under federal, state, and most local laws income from all sources may be taxed. The federal government has had explicit constitutional authority to impose an income tax since 1916, with the passage of the 16th Amendment. This came after the Supreme Court had consistently found a federal income tax to be unconstitutional. States, including Louisiana, have always been allowed to impose whatever type of income tax they liked.

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 New Orleans, Louisiana if you are not clear about what your state and federal tax liability.

Income Tax Deductions in New Orleans, Louisiana

A tax deduction is simply a reduction in the part of a person's income that is taxable. For example, if someone makes ,000 per year, and gets a ,000 tax deduction, their taxable income is ,000.

Don't confuse a tax deduction with a tax credit. A tax credit simply lowers your tax bill by the amount of the credit. A tax credit usually reduces your tax bill more than a reduction of the same amount.

Many expenses in New Orleans are tax-deductible, such as interest paid on mortgages, charitable contributions, the cost of tax advice, and union dues, among others.

How Can A New Orleans, Louisiana Tax Attorney Help?

Income tax law can get fairly complex in New Orleans, Louisiana. 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 New Orleans

New Orleans is the largest city in the State of Louisiana and know to most as "The Big Easy" but locals just call it "Nawlins." Despite natural disasters of the past few years, New Orleans has rebounded back once again and plays host to one of the most unique multicultural communities in the entire United States. New Orleans is famous for being the birthplace of jazz, Creole cuisine and culture, and their annual blowout celebrations like Mardi Gras during Spring Break. In fact, tourism plays a major role in the New Orleans economy. It has been consistently voted one of "America's Favorite Cities" by Travel Magazine. New Orleans' sports teams like the Saints and Hornets, local universities like Tulane and Loyola, and cultural attractions like the French Quarter draw a high number of visitors.

The City of New Orleans is known globally for its diverse representation of unique architecture. The Port of New Orleans is touted as one of the busiest and most expansive in the world. The city is a major southern hub for transportation and distribution. Acme Truck Line and Boh Brothers Construction are two of the city's significant employers. In addition to oil refineries and chemical production, New Orleans is home to the second largest coffee roasting plant in the world. It's owned and operated by Folgers Coffee.

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