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Personal Taxes
Every filer has unique circumstances and deserves our focused attention.
We take a personal approach in a discreet, comfortable and dignified atmosphere. our entire financial picture - past, present and future is taken into consideration to respond to your needs...
Two out of every five of our new clients qualify for additional refunds plus interest!*
We've recovered thousands of dollars for our clients from their prior returns.*
We provide Electronic Filing for Fast Refunds.
Initial Consultations and Estimates are FREE.
*Individual Results May Vary
7 Deductions You Can Itemize
Some you know, some you may not. And some you may have forgot. Listed below are 7 allowable deductions we can itemize for you to further maximize tax savings. They are:
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Medical and dental expenses (exceeding 7.5% of Adjusted Gross Income [AGI])
State and local income taxes
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Real estate taxes
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Personal property taxes
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Home mortgage interest
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Investment interest
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Gifts to charity
2021 Filing Status & Requirements
Filing Status | Age | Minimum W-2 Income Requirement | Minimum Self-Employment Income Requirement |
|---|---|---|---|
Single | Under 65 | $12,500 | $400 |
Single | 65 or Older | $14,250 | $400 |
Married Filing Jointly | Both Spouses Under 65 | $25,100 | $400 |
Married Filing Jointly | One Spouse 65 or Older | $26,450 | $400 |
Married Fillng Jointly | Both Spouses 65 or Older | $27,800 | $400 |
Married Filing Separately | Any Age | $12,550 | $400 |
Head of Household | Under 65 | $18,800 | $400 |
Head of Household | 65 or Older | $20,500 | $400 |
Qualifying Widow(er) with Dependent Child | Under 65 | $25,100 | $400 |
Qualifying Widow(er) with Dependent Child | 65 or Older | $26,450 | $400 |
The New 2021 Federal Income Tax Brackets & Rates
Tax Bracket/ Filing Status | Single | Married Filing Jointly or Qualifying Widow | Married Filing Separately | Head of Household |
|---|---|---|---|---|
10% | $0 to $9,950 | $0 to $19,900 | $0 to $9,950 | $0 to $14,200 |
12% | $9,951 to $40,525 | $19,901 to $81,050 | $9,951 to $40,525 | $14,201 to $54,200 |
22% | $40,526 to $86,375 | $81,051 to $172,750 | $40,526 to $86,375 | $54,201 to $86,350 |
24% | $86,376 to $164,925 | $172,751 to $329,850 | $86,376 to $164,925 | $86,351 to $164,900 |
32% | $164,926 to $209,425 | $329,851 to $418,850 | $164,926 to $209,425 | $164,901 to $209,400 |
35% | $209,426 to $523,600 | $418,851 to $628,300 | $209,426 to $314,150 | $209,401 to $523,600 |
37% | $523,600 or more | 628,300 or more | $314,151 or more | $523,600 or more |
We Know Taxes.
Our firm has over 30 years of experience to meet your needs. The professional staff at LoTurco & Company are all experienced in accounting, taxation, and finance that may help bring about tax savings to you.
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Financial Advisor
1040 Hempstead Turnpike # 20, Franklin Square, NY 11010
1040 Hempstead Turnpike # 20, Franklin Square, NY 11010