Income Tax Lawyers in Gastonia, North Carolina

Find the right Income Tax attorney in Gastonia, NC

In Gastonia, North Carolina, the income tax is a tax imposed on money received (income) during a given set time period. Under federal law, and the laws of most states, income from any source may be taxed. The federal government imposes an income tax on all persons and entities present in the United States. The authority to tax incomes was granted to the federal government in 1913 with the ratification of the 16th Amendment to the Constitution. Before that time, the Supreme Court had found a federal income tax unconstitutional, prompting the passage of the amendment. Of course, individual states, including North Carolina, were allowed to impose income taxes as they saw fit.

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 Gastonia, North Carolina if you are not clear about what your state and federal tax liability.

Income Tax Deductions in Gastonia, North Carolina

A tax deduction is a reduction in your taxable income. It results in less of one's income being taxable, which causes a reduced tax liability.

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 Gastonia are tax-deductible, such as interest paid on mortgages, charitable contributions, the cost of tax advice, and union dues, among others.

How Can A Gastonia, North Carolina Tax Attorney Help?

Income tax laws in Gastonia, North Carolina can get very complex. You should speak with an accountant or tax attorney if you have any questions about your income tax liability.

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Life in Gastonia

Gastonia is home to around 70,000 people and is North Carolina's thirteenth largest city.

Some major employers which have helped boost Gastonia's economy include Freightliner LLC, Danaher Tool Group, Curtiss-Wright Controls Engineered Systems and Radici Group, and Advance Auto Parts. The legal industry also has a presence due to the many small law firms and law offices, where competent attorneys devote their day to providing excellent legal services.

Some famous past residents include many NBA players, such as James Worthy, Darrell Armstrong, Eric Floyd, and Hassan Whiteside. Other famous residents have included Evan Karagias, Clyde Caldwell, Thomas Sowell, and Gilly James.

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