American Tax Express
Great People Deserve Great Service!
Personal
Our tax preparation services are a great value for you and your family. We offer high quality services from knowledgeable tax accountants who will prepare your income taxes at competitive rates.
Business
Don’t risk overlooking tax deductions and credits that could save you thousands of dollars. When we prepare your business tax return, you can be confident that it’s free of costly errors.
Tax Planning
Business owners and individuals rely on our skills and experience to develop proactive tax planning strategies that are designed to minimize tax liabilities.
Problem Resolution
If you’re facing a hefty tax debt and harassing phone calls from the IRS, contact us now. We’ll work to release a lien or levy, end wage garnishment, and resolve all kinds of tax problems with the IRS.
State and Local Taxes
Our experience with state and local taxes will decrease effective tax rates for your business. We provide sales and use tax services, tax incentive analysis, and Nexus filings.
Tax Reform Changes That Could Affect You
Tax laws are constantly changing and as a result the rules vary on an annual basis making the process of preparing and filing Income Tax a confusing and complicated task for many and with the recent passing of the “Tax Cuts and Jobs Act” passed by Congress on December 20, 2017, this recent legislation, signed into law on December 22, 2017, is the most sweeping tax reform measure in over 30 years.
We understand how the new legislation fundamentally changes the Internal Revenue Code and how these changes may or may not upend the way businesses calculate their federal income tax liability. These changes create numerous tax planning opportunities and we welcome the opportunity to meet new customers and offer various year round tax planning and consulting services.
We understand that tax reform may be a lot to take in. So we’ve gathered these topics to help you
understand how the new law could affect you.
Tax Rates & Brackets
- Most taxpayers will see lower rates
- Highest rate drops from 39.6% to 37%
- Bigger exemptions for Modified Alternative Minimum Tax (AMT)
Businesses
(including self-employed)
- New, 20% deduction for small businesses, including sole proprietorships and S corps
- Increases the amount small businesses can expense to $1,000,000
- Corporate tax rate decreases from 35% to 21%
Home Mortgages
- Mortgage interest paid on new loans deductible up to $750,000 (or existing loans up to $1,000,000)
- Interest from home equity loans is no longer deductible
Families
- Doubles the Child Tax Credit to $2,000
- Adds a $500 credit for other types of dependents
State & Local Taxes
- State and local tax deductions capped at $10,000
- No income tax prepayment for 2018 allowed
Healthcare
- Eliminates the tax penalty for not having health insurance (starting in 2019)
- Lowers the floor on out-of-pocket medical expenses to 7.5% for 2017 & 2018
Partner Services
Business Formation
Payroll
Registered Agent
Web Design
IRS Audit
Training
Come Visit Us
ADDRESS:
901 North Tryon Street, Suite F, Charlotte, North Carolina 28206
information@americantaxexpress.com
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