Income Tax Lawyers in Burlington, Vermont

Find the right Income Tax attorney in Burlington, VT

The income tax in Burlington, Vermont is a tax imposed on all of the income earned or received by a person or corporation during a given year. Under federal law, almost any type of income can be taxed. The federal government imposes an income tax on all persons and entities present in the United States. The power 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 Vermont, were free to impose income taxes as they saw fit.

Everybody in the U.S. is subject to the federal income tax. But you are only subject to the income tax of the state in which you reside. Some states have no income tax at all. You should speak with an accountant or tax attorney in Burlington, Vermont if you don't know what the tax system is here.

Income Tax Deductions in Burlington, Vermont

A tax deduction is a reduction in your 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.

This should not be conflated with a tax credit, which is a reduction in one's tax bill. A tax credit normally results in a greater reduction in tax liability than a deduction in the same amount.

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

How Can A Burlington, Vermont Tax Attorney Help?

Income tax laws in Burlington, Vermont 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 Burlington

Burlington is Vermont's largest city. It is located in Chittenden County and is approximately 45 miles from the U.S.-Canadian border. Per the 2010 census, it has a population of 42,417 people. Neighboring areas include South Burlington, Winooski, Colchester, Essex and Williston.

An interesting fact is that Burlington has the sixth lowest unemployment rate of all surveyed metropolitan areas in the United States. Top employers include IDX Systems, Vermont Tedy Bear Company, General Dynamics, Lake Champlain Chocolates, Burton Snowboards, Bruegger's, and Seventh Generation Inc. Burlington is also home to many law offices and small firms practicing in virtually all areas of law, and providing their clients with excellent and personalized legal services.

Popular sites include the ECHO Lake Aquarium and Science Center, Deck Towers, Burlington Square, and Cathedral Square.

Overall, Burlington is a charming place to visit or call home!

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