Income Tax Lawyers in Ithaca, New York

Find the right Income Tax attorney in Ithaca, NY

In Ithaca, New York, 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 had the constitutional authority 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 New York.

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

Income Tax Deductions in Ithaca, New York

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 usually reduces your tax bill more than a reduction of the same amount.

Many common expenses in Ithaca can be deducted from your taxable income. They include mortgage interest, charitable contributions (if property documented, of course), the price of tax advice, union dues, and many others.

How Can A Ithaca, New York Tax Attorney Help?

Income tax laws in Ithaca, New York 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 Ithaca

Named after the Greek island of Ithaca, Ithaca New York is a charming city to live, work, and explore. Home to 30,000 residents, Ithaca is located in Central New York. The east coast city is located on the Southern end of the Cayuga Lake, which provides Ithaca with a moderate continental climate.

Ithaca is most famous for playing home to the Ivy League School, Cornell. Cornell has an undergraduate population of close to 20,000 students and the city is happy to play host to the undergraduate and graduate school campus. Not surprisingly, Ithaca has a very college town feel and a lot of the shopping, food, bars, and main street are tailored to their young students. Cornell also has a top-ranking law school that yields many top lawyers that choose to stay in Ithaca and practice law there. It is no wonder then, that Ithaca lawyers are highly sought after for their legal prowess.

Ithaca is also known for being one of the more culturally liberal towns in America. Whether it is the education, arts, musics, or museums, Ithaca is always on the cutting edge. Ithca is a wonderful town to visit any season.

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