2015 Health Insurance Penalty

The 2015 health insurance penalty  for persons not covered by health insurance  has increased significantly. When the health insurance  penalty  rolled out in TY 2014,  it  was $95 per person or 1% or their income.  The  penalty  for TY 2015 $325 per person or 2 percent of their income.  Persons eligible  for one of the  many exclusions may required to apply for a certificate from the state or federal marketplace and present the certification when preparing  TY 2015 return.

Tax Deduction - Business Mileage

Does your employer require you to travel for work using your car? If your employer does not reimburse you for this work-related expense, you can claim the business mileage  deduction on your tax return. The  standard mileage rate  for TY 2015 is  57.5 cents per business mile driven.  You can only claim mileage driven from one  work location to another work location, do not include commuting miles.

Payroll and Tax Services

Payroll

• Calculate Employee Payroll and Withholdings
• Issue Employee Paychecks
• File Payroll Taxes to EFTPS 
• Issues W-2s at year-end
• Manage new hire paperwork

Tax

• Sales Tax Returns
• Payroll Tax Returns
• Individual Federal Tax Returns &State Tax Returns
• Sole Proprietorship Tax Returns
• Single Member LLC tax returns
• IRS letter correspondence
• Order Wage &Income Transcripts

Admin. Services

• Virtual Administrative Assistant Services
• Accounts Receivables and Collections

Tax Charm -Your Tax Return in Good Hands

Created to address the needs of taxpayers,  Tax Charm is an income tax preparation business serving clients in Michigan, Texas and nation-wide.

 Tax Charm has years of experience in the tax profession industry working with clients with various types of income including: employment, self-employment, investment, inheritance, stock options, rental property, investment, and K-1 income. 

We are committed to ensuring every client receive every tax credit and every tax deduction they are entitled to. 

Refer new clients, receive  $50 for each new client. ( referral fees paid for tax return over $150, after tax return is fully paid for)
  
**Additional Services: Past -year tax returns, IRS letter resolution, Order Wage and Income Transcripts, Book-keeping**