Clinton Robinson Professional Tax Services, operating out of East Orange, NJ, has announced that they have published new tax reduction tips on their website. They have also released a YouTube video to explain the process of how to reduce tax expenses. More details on the video and information are available through the website at http://www.crprotax.com.
"In the rush to get tax returns prepared and filed by April 15th, many overpay their taxes," says Clinton Robinson himself. "To help people avoid this, I have created a number of important tax reduction tips. At the end of the day, your goal should be to keep as much of your income in your own pocket, after all."
The first tip that Robinson delves into is that of tax credits for starting a small business pension plan. If a business has fewer than 100 employees, then it is possible to apply for these tax credits, which are deducted from taxes owed, not from gross revenue. Clinton explains: "The credit is 50% of certain start up costs you incur in each of the first three years. The costs include the expenses incurred in maintaining the plan and establishing. They also include the cost of any educational retirement planning programs you provide for employees."
A second tip, as shown at http://www.crprotax.com, revolves around personal loans to business, which many businesses often loose track of. This means that the gross revenue of a business is artificially raised, which increases tax liability. Clinton also looks at the SUV tax deduction, which is an area of significant confusion, because many believe that the American Jobs Creation Act of 2004 eliminated this.
There are various other tax reduction tips that Clinton can provide. These include the Tsunami relief contributions paid in 2005, the sales tax deduction, and the deduction for discrimination lawsuit costs. Clinton states: "If you were required to pay attorney's fees and court costs associated with a discrimination lawsuit, you may be able to claim a tax deduction. Realistically, this deduction will be more viable for the 2005 tax year, but a few taxpayers may be eligible this year."
This is a Income Tax Prep Company like H&R Block They have been in business for 30 years and they are looking to get more clients
CR Pro Tax
Clinton Robinson Professional Tax Services
464 CENTRAL AVE
EAST ORANGE, NJ 07018
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