Income Tax Lawyers in High Point, North Carolina

Find the right Income Tax attorney in High Point, NC

In High Point, 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 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 North Carolina were allowed to impose income taxes of their own.

While the federal income tax applies to everyone 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 High Point, North Carolina tax lawyer or accountant to find out if your state is one of them.

Income Tax Deductions in High Point, North Carolina

A tax deduction is a reduction in one's taxable income. For example, if a person makes ,000 per year, and receives a ,000 tax deduction, they will only have to pay taxes on the remaining ,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 normally reduces your tax bill more than a reduction of the same amount.

Many common expenses in High Point can be deducted, in whole or in part, from your taxable income. Federal tax deductions include charitable contributions, union dues, interest paid on a mortgage, and state and local taxes.

How Can A High Point, North Carolina Tax Attorney Help?

Income tax laws in High Point, 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 High Point

The City of High Point extends into Guilford, Davidson, Randolph, and Forsyth Counties and plays host to 102,000 North Carolina residents making it the eighth largest municipality in the state. You probably know High Point as the "Furniture and Hosiery Capital of the World" due to it's many manufacturing plants that churn out textiles, busses and of course furniture. The population nearly doubles each time the High Point Market opens with over 100,000 vendors and buyers from around the world flocking to the largest furnishings trade show in the world covering 11.5 million square feet.

High Point also plays host to a number of other interesting sites that attract visitors and citizens alike. The Angela Peterson Doll and Miniature Museum is one of the south's largest doll and miniature museums. The Bernice Bienenstock Furniture Library retains the world's largest collection of books on the furniture and interior design, a Mecca for industry professionals. There are a number of lawyers in the town too. High Point lawyers are well versed in a variety of cases both local and statewide. The city is not all business, it also has a number of outstanding parks and recreational areas like High Point City Lake Park which is a recreation and amusement park offering boating, picnic areas, fishing, miniature gold, a water park, and the largest outdoor swimming pool in North Carolina.   

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