Maximize Your Tax Return
Don’t prepare and file your taxes on your own, let us help you maximize your refund.
Castereno Insurance & Tax Service has helped thousands of people throughout central Texas. Whether it be a somewhat simple return, or you have income and expenses from multiple sources requiring other forms such as Schedule C for the self-employed, we can look for all the deductions and credits you are entitled to. If you have employees, we can even take care of creating and distributing your 1099’s.
Tax Credits
Every year there are a lot of people that don’t receive their maximum refund because they miss deductions and tax credits. Here are just a few of those we review for each return we prepare:
- Earned Income Tax Credit
- Child and Dependent Care Credit
- Adoption Credit
- Child Tax Credit and Credit for Other Dependents
- Credit for the Elderly or Disabled
- Earned Income Tax Credit
- Saver’s Credit
- Foreign Tax Credit
- Excess Social Security and RRTA Tax Withheld
- Credit for Tax on Undistributed Capital Gain
- Nonrefundable Credit for Prior Year Minimum Tax
- Residential Energy Efficient Property Credit
- Low-Income Housing Credit (for Owners)
- Premium Tax Credit (Affordable Care Act)
- Health Coverage Tax Credit
- American Opportunity Credit and Lifetime Learning Credit
Deductions
In addition to tax credits, there are some deductions that are often missed as well. While it might be easy to take the standard deduction, you may receive a larger refund if you itemize your deduction. We will consider the following deductions when preparing your taxes:
- Home Office Expense
- Business Entertainment Expenses
- Employee Business Expenses
- Deductible Taxes
- State and Local Tax Deduction Limit
- Property Tax
- Real Estate Tax
- Sales Tax
- Charitable Contributions
- Gambling Loss
- Miscellaneous Expenses
- Interest Expense
- Home Mortgage Interest
- Moving Expenses
- Student Loan Interest
- Work-Related Educational Expenses
- Teacher Educational Expenses
- Tax Relief in Disaster Situations
- Medical and Dental Expenses
- Health Savings Account (HSA)
- Sale of Home
- Individual Retirement Arrangements (IRAs)
- Capital Losses
- Bad Debt
- Opportunity Zones
Contact Castereno Tax Services
Contact us today to schedule a consultation with one of our experienced tax preparers.
