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Tax Credit Consulting Leawood KS

Since you pay taxes like a good citizen, you already know the power of the tax deduction. With this introduction to tax credits, you are about to learn of a more powerful tax saving tool.

Jason Black
9308 Mohawk Lane
Leawood, KS
Company
Title: President
Company: Evimero Wealth Management
Type
Registered Investor: Yes
Education
Kansas State University/Bachelors of Science Business
Years Experience
Years Experience: 17
Service
Wealth Management,Annuities,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,CD Alternative,Life Insurance,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Individual Income Tax Planning,Disability Insurance,Retirement Planning,Investment Consulting & Allocation Design,Insura

Data Provided by:
Kerry Niece CFP
4200 Little Blue Parkway
Independence, MO
Company
Title: President
Company: National Financial Services, Inc
Type
Investment Advisor Rep: Yes
Education
Fort Hays State University
Years Experience
Years Experience: 34
Service
Individual Income Tax Planning,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Fee-Only Comprehensive Financial Planning,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Hourly Financial Planning Engagements,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Plann

Data Provided by:
JK Harris&Company Tax Representation Firm-Call Now
(800) 621-0536
7500 W. College Blvd, 5th floor
Overland Park, KS

Data Provided by:
Nederman Tax Svc
(913) 515-5515
8600 W 95th St Ste 102
Shawnee Mission, KS

Data Provided by:
Julie's Tax Svc
(913) 268-9430
8609 Woodward St
Overland Park, KS

Data Provided by:
Donald D. Allenbrand (RFC®), CPA
(816) 931-7633
1201 NW Briarcliff Parkway, Sutie 335
Kansas City, MO
Company
Wealth Enhancement Group, Inc.
Qualifications
Education: CPA, CWS
Years of Experience: 32
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuyS

Data Provided by:
Mr. Scott M. Schulze (RFC®)
(816) 285-4600
19201 E Valley View Pkwy Ste D
Independence, MO
Company
Mike Martin Financial Group
Qualifications
Education: Series 6,7,63,65, Life and Health Insurance License.
Years of Experience: 7
Membership
IARFC, MDRT
Services
Invoice, Portfolio Management, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Asset Protection

Data Provided by:
Marks Nelson Vohland Campbell Radetic LLC
(913) 498-9000
7701 College Blvd., Ste. 150
Overland Park, KS
 
Guy E Martin, CPA PC
(913) 341-2206
6600 W 95TH St Ste 101
Overland Park, KS

Data Provided by:
Best Tax Service The
(816) 363-0555
8419 Wornall Rd
Kansas City, MO
 
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Tax Credit Consulting

Introduction to Tax Credits

Since you pay taxes like a good citizen, you already know the power of the tax deduction. With this introduction to tax credits, you are about to learn of a more powerful tax saving tool.

Assume you are at a cocktail party and the issue of taxes comes up. What is the first thing people complain about besides paying them? The number one complaint is the government is getting rid of all the tax deductions. This bitterness makes sense because tax deductions are the primary tool taxpayers have for knocking down their gross income when figuring out there taxes. The problem with this argument, however, is most people don't take into account the value of tax credits.

With any introduction to tax credits, it is important to understand a few things. First, a tax credit and tax deduction are two different things. Second, a tax credit is FAR more valuable than a tax deduction in most cases. Third, most people fail to claim tax credits that are available to them and overpay their taxes. Okay, let's get to the nitty gritty.

Tax credits are different and far more valuable than tax deductions. A tax deduction is used to lower your gross income with the result being called your adjusted gross income. In simple terms, you total all of your earnings and reduce that amount by your total tax deductions. You then take the remaining figure and find out how much you owe by applying it to the tax table provided by the IRS. A tax credit works a little differently.

With tax credits, you follow the same approach as above. Figure out your gross earnings. Subtract all deductions. Figure out the tax owed by taking the remaining figure and applying it to the relevant tax table. Here is where it gets really good. Once you have the exact amount of tax you owe the IRS, you reduce that amount by any tax credits you are going to claim. If you owe $10,000 and claim tax credits for $4,000, you end up writing a check for $6,000. Let's look at a practical example...

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Local Opinions
Tax Payers in Kansas shared their opinions about IRS Survey
Have you had experience dealing with the IRS and their customer service reps?
Yes: 58%
How would you rate your experience?
Absolute disaster: 11%
Somewhat negative: 33%
Uneventful: 55%
Somewhat pleasant: 0%
Pleasant: 0%
What was the subject of your most recent communication with the IRS?
Making/scheduling payment: 11%
Disputing taxes owed: 0%
Investigating information: 44%
Dealing with lien/levy: 0%
Responding to a letter/demand: 11%
Other: 33%
Source: Survey.com