As you cater your art to your client's clothing, we can make sure your books are properly prepared. This will give you more time during those busy seasons throughout the year such as Wedding, Prom, Easter, & Christmas!
Your crew is out on the road answering the emergency call from a trucker that needs to get their load to the destination. We will make sure all of your invoices are correctly calculated and assign the correct expense for each unique service call.
Your passion for craft beer has excited you to brew your own recipes. Let us assist your Brewery in preparing all of the necessary Government Reports & Excise Tax while maintaining your books. This will allow you more time to prepare your next customer event in your Taproom.
As you are trying to meet your customer's deadline to complete their service, we can make sure all of your labor and materials are being accounted for in your books. This will allow more time for you to finish the job!
Children are constantly requesting your attention while you are giving them the supplies to paint their latest masterpiece, food to make them brighter & stronger, and toys to bring out their elaborate imagination. We can lighten your tremendous load by preparing your books and income tax return.
Constantly you are exceeding deadlines to bring the loads you haul to their destination. You stop a couple of time during your trip to eat and fill fuel into your rig and at the end of the year, you receive a 1099-MISC. Let us prepare your Income Tax Return to make sure all of your business expenses are properly entered in your return to minimize your tax liability!
We at Cisco's Bookkeeping & Tax Service provide caliber work at very reasonable rates to you. We work from our home office in West Columbia. By doing this, we don't have the overhead expenses and we can pass those savings on to you and your organization!
All 1065 & 1120S Business Tax Returns are due on March 15, 2018.
All 1040 Personal Income Tax Returns are due on April 17, 2018.
Tax Service in West Columbia
Tax Service in Lexington
Tax Service | Lexington SC | Cisco's Bookkeeping & Tax Service in West Columbia
Click here to see for other IRS due dates.
Individuals who pay into to a variety of savings plans, including a 401(k), 403(b), Thrift Savings Plan or most 457 plans will be able to contribute an extra $500 per year. The contribution limit for these plans will jump to $18,500 from the current level of $18,000.
These are the updated phase-out ranges for IRA contributions in 2018:For individuals covered by a workplace retirement plan: $63,000 to $73,000.For a married couple, the range will be $101,000 to $121,000 if one spouse is covered by a workplace retirement plan. This is an increase from the current $99,000 to $119,000 limit.For a married couple where neither individual is covered by a workplace plan: $189,000 to $199,000.The deduction is phased out between $0 and $10,000 for a married individual filing a separate return who is covered by a workplace retirement plan, unchanged from previous years.
The phase out ranges for those making contributions to Roth IRAs are as follows:Singles and heads of households: $120,000 to $135,000Married couples filing jointly: $189,000 to $199,000Married individual, filing separately: $0 to $10,000 (unchanged)
Expected changes for the standard deduction in 2018 are:Singles and married but filing separately: $6,500Married couple filing jointly: $13,000Heads of household: $9,550
The amount of tax-free money individuals can deduct from their income each year for every taxpayer and dependent claimed on their return is also set to rise by $100 to $4,150. The phase out begins at $266,700 for individuals and $320,000 for married couples filing jointly. The personal exemption phases out completely at $389,200 for individuals and $442,500 for married couples filing jointly.
The limitation for itemized deductions for individuals will begin at $266,700. For married couples filing jointly, the limit starts at $320,000.
Alternative Minimum Tax
For the coming year, the alternative minimum tax exemption amount is $55,400 and the phase out begins for individuals with incomes of $123,100. For married couples filing together, the exemption will be $86,200 and will begin to phase out at $164,100.
Top Income Rate
The top income tax rate of 39.6% will apply to individuals with incomes higher than $426,700, or $480,050 for a married couple filing jointly.
This year we have teamed up with Republic Bank to provide all bank products for our clients.
You can have your fees deducted from your refund at the time of filing.
Your refund can be processed via Direct Deposit, Check issued at our office, Check mailed to your house, or having it sent to Walmart to be picked up at one of their Money Centers.
Call today to setup an appointment for a refund estimate. There is no obligation to come in for the estimate. We will go through all of the information you have and determine an estimate of your refund.