Income Tax Lawyers in Raleigh, North Carolina

Find the right Income Tax attorney in Raleigh, NC

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In Raleigh, 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 Raleigh, North Carolina tax Lawyer or accountant to find out if your state is one of them.

Income Tax Deductions in Raleigh, North Carolina

A tax deduction is an expense which, in whole or in part, is subtracted from a person's taxable income. For example, if you make ,000 in a year, and the tax rate is 10%, a reduction of ,000 results in only ,000 being taxed. This means that you will pay ,900 instead of ,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 reduced tax burden than a tax reduction of the same amount.

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

How Can A Raleigh, North Carolina Tax Attorney Help?

Income tax law can get fairly complex in Raleigh, North Carolina. 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 Raleigh

Raleigh is the capital of North Carolina and seat of Wake County. Raleigh is one of the three cities with Durham and Chapel Hill that's known as the "Research Triangle." It's known as such because North Carolina State University, Duke University and University of North Carolina Chapel Hill make up the three major research universities. As you may imagine, Raleigh is home then to a number of students and outstanding professors who are known internationally for their expertise. You may not know that Raleigh also has both historical and cultural attractions.

Raleigh is founded in 1792 and named for Sir Walter Raleigh who was a famous aristocrat and explorer. The Downtown region of Raleigh is home to lots of attractions like the North Carolina State Capital, North Carolina Museum of Natural Sciences, and Museum of History. For history buffs who want to learn more about the City of Raleigh, the Raleigh City Museum in the historic Briggs Hardware Building on Fayetteville Street offers an unique view inside the growth and roots of the ever changing city. Peace College, Shaw University, Wake Technical Community College, and Strayer University are a few of the institutions of higher learning available. There are over 8,100 acres of park land in Raleigh. That even includes a championship BMX racetrack, botanical gardens, arboretum, and 22 staffed community centers.