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:

  • Medical and dental expenses (exceeding 7.5% of Adjusted Gross Income [AGI])

    State and local income taxes

  • Real estate taxes

  • Personal property taxes

  • Home mortgage interest

  • Investment interest

  • Gifts to charity

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2020 Filing Status & Requirements

Filing Status
Age
Minimum W-2 Income Requirement
Minimum Self-Employment Income Requirement
Single
Under 65
$12,400
$400
Single
65 or Older
$14,050
$400
Married Filing Jointly
Both Spouses Under 65
$24,800
$400
Married Filing Jointly
One Spouse 65 or Older
$26,100
$400
Married Fillng Jointly
Both Spouses 65 or Older
$27,400
$400
Married Filing Separately
Any Age
$5
$400
Head of Household
Under 65
$18,650
$400
Head of Household
65 or Older
$20,300
$400
Qualifying Widow(er) with Dependent Child
Under 65
$24,800
$400
Qualifying Widow(er) with Dependent Child
65 or Older
$26,100
$400

The New 2020 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 $9,875
$0 to $19,750
$0 to $9,875
$0 to $14,100
12%
$9,876 to $40,125
$19,751 to $80,250
$9,876 to $40,125
$14,101 to $53,700
22%
$40,126 to $85,525
$80,251 to $171,050
$40,126 to $85,525
$53,701 to $85,500
24%
$85,526 to $163,300
$171,051 to $326,600
$85,526 to $163,300
$85,501 to $163,300
32%
$163,301 to $207,350
$326,601 to $414,700
$163,301 to $207,350
$163,301 to $207,350
35%
$207,351 to $518,400
$414,701 to $622,050
$207,351 to $311,025
$207,351 to $518,400
37%
$518,401 or more
622,051 or more
$311,026 or more
$518,401 or more
 
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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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1040 Hempstead Turnpike # 20, Franklin Square, NY 11010

1040 Hempstead Turnpike # 20, Franklin Square, NY 11010