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Tax Credit Consulting: Tax Credits Goffstown NH

Most people try to avoid tax subjects as much as possible. Tax credits are something you should love because they save you a ton. How does a tax credit work? Get the answer from the following.

Mr. James E. Knee (RFC®), MBA
(603) 224-1010
6 Loudon Road, Suite 505
Concord, NH
Company
Sterling Financial Services, LLC
Qualifications
Education: B.S., University of Bridgeport;MBA, Southern New Hampshire University;Advanced Certificate in International Business;Series 24 Registered Principal License;Series 7 and 63 Securities License;NH Health and Life Insurance License
Years of Experience: 26
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Education Plan, Asset Protection

Data Provided by:
Fishers Income Tax Svc
(603) 622-2057
616 Mast Rd
Manchester, NH

Data Provided by:
Danis & Company
(603) 656-9041
169 South River RD #14
Bedford, NH
 
J Walker & Co LLC
(603) 224-4829
104 N State St
Concord, NH
Hours
Mon 09:00 AM-05:00 PM;Tue 09:00 AM-05:00 PM;Wed 09:00 AM-05:00 PM;Thu 09:00 AM-05:00 PM;Fri 09:00 AM

Data Provided by:
Mr. James E. Knee (RFC®), MBA
(603) 224-1010
6 Loudon Road, Suite 505
Concord, NH
Company
Sterling Financial Services, LLC
Qualifications
Education: B.S., University of Bridgeport;MBA, Southern New Hampshire University;Advanced Certificate in International Business;Series 24 Registered Principal License;Series 7 and 63 Securities License;NH Health and Life Insurance License
Years of Experience: 26
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Education Plan, Asset Protection

Data Provided by:
H&R Block
(603) 647-6974
1328 Hooksett Rd
Hooksett, NH

Data Provided by:
H&R Block Inside Northside Plaza
(603) 628-1976
67 HAMEL DR UNIT B4A
MANCHESTER, NH

Data Provided by:
Devereaux & Ean-Dixon Bookkeeping LLC
(603) 717-1214
PO Box 2794
Concord, NH
Prices and/or Promotions
10% off of individual tax return prep

Steele Associates
(603) 673-4660
54 Nashua St
Milford, NH

Data Provided by:
Kline & Company, CPA, P.C.
(603) 881-8185
141 Main Street
Nashua, NH
 
Data Provided by:

Tax Credit Consulting: Tax Credits

How Does A Tax Credit Work?

Most people try to avoid tax subjects as much as possible. Tax credits are something you should love because they save you a ton. Okay, so how does a tax credit work?

The world is full of government conspiracy theories. Who caused 9/11? Who killed President Kennedy? The general idea is there is a hidden power running everything like a puppeteer. Whatever your view on these theories, most government efforts to change our conduct are very open. The efforts often take the form of financial incentives and tax credits are one of the biggest.

People talk about tax deductions all of the time. Please. Tax deductions pale in comparison to the mighty tax credit. Why is this? Well, consider what each does. A tax deduction reduces the amount of income you will claim when figuring out the tax you will owe. Let's say you made $50,000 last year. Now let's say you have a single tax deduction of $500. This lowers your adjusted gross income to $49,500. You would then go to the tax tables and figure out that you owe $12,500. The $500 tax deduction saved you a minimalistic $50 or so on the final amount you had to pay. These numbers are inaccurate, but used to show you how things work.

A tax credit is not deducted from your income before figuring out how much tax you owe. Instead, it is deducted dollar for dollar from the tax you owe. Now, take the same example but change the deduction to a $500 tax credit. Instead of subtracting the $500 figure from the $50,000 you earned during the year, you would direct it from the $12,500 you had to pay Uncle Sam. Instead of the $50 saving the tax deduction gave you, you would get the full $500. Again, this is just for example purposes.

People search high and low for tax deductions when they should really be looking for tax credits. Consider the case of hybrid cars. The federal government wants us to break our oil addition. To get us to embrace hybrid cars, it issued a large tax deduction of $3,000 for anyone that...

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