Income Tax Lawyers in Needham, Massachusetts

Find the right Income Tax attorney in Needham, MA

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In Needham, Massachusetts, income tax is imposed on most sources of income that a person receives in a given year. Under federal, state, and most local laws income from all sources can be taxed. The federal government has had the constitutional power to impose an income tax since 1916, since the passage of the 16th Amendment. Before then, states could, and still can, impose whatever income tax they like, including in Massachusetts.

While the federal income tax applies to everybody in the United States, the income taxes imposed by individual states vary widely, and some states have no income tax at all. You should consult with a Needham, Massachusetts tax Attorney or accountant to find out if your state is one of them.

Income Tax Deductions in Needham, Massachusetts

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

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

Many expenses in Needham are tax-deductible, such as interest paid on mortgages, charitable donations, the price of tax advice, and union dues, among others.

How Can A Needham, Massachusetts Tax Attorney Help?

Income tax laws in Needham, Massachusetts can get fairly complex. You should speak with an accountant or tax Lawyer if you have any questions about your income tax liability.

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Life in Needham

Needham, Massacheutts is considered one of the more desireable suburbs of the state's capital of Boston because of the great school system, thriving professional community, and strong sense of community that Needham fosters in its 30,000 residents. Originally founded in 1680, Needham was a rather unsuccessful farming community before realizing success in other industries. There is still some colonial charm in the city-- it still governs itself with a representative town meeting. With only one public high school and middle school, the small town feel is also felt in the city's education. A commuter suburb of Boston, many successful professionals have also set-up office in Needham. For instance,Needham is home to a packing plant for popular market chain Trader Joes. In addition to great supermarkets,Needham also has great lawyers. Lawyers specializing in a range of legal practices are available to help their fellow citizen with any issue he or she may find find themselves confronted with.