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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
2022 Filing Status & Requirements
Filing Status | Age | Minimum W-2 Income Requirement | Minimum Self-Employment Income Requirement |
|---|---|---|---|
Single | Under 65 | $12,950 | $400 |
Single | 65 or Older | $14,700 | $400 |
Married Filing Jointly | Both Spouses Under 65 | $25,900 | $400 |
Married Filing Jointly | One Spouse 65 or Older | $27,300 | $400 |
Married Fillng Jointly | Both Spouses 65 or Older | $28,700 | $400 |
Married Filing Separately | Any Age | $12,950 | $400 |
Head of Household | Under 65 | $19,400 | $400 |
Head of Household | 65 or Older | $20,800 | $400 |
Qualifying Widow(er) with Dependent Child | Under 65 | $25,900 | $400 |
Qualifying Widow(er) with Dependent Child | 65 or Older | $27,300 | $400 |
The New 2022 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 $10,275 | $0 to $20,550 | $0 to $10,275 | $0 to $14,650 |
12% | $10,276 to $41,775 | $20,551 to $83,550 | $10,276 to $41,775 | $14,651 to $55,900 |
22% | $41,776 to $89,075 | $83,551 to $178,150 | $41,776 to $89,075 | $55,901 to $89,050 |
24% | $89,076 to $170,050 | $178,151 to $340,100 | $89,076 to $170,050 | $89,051 to $170,050 |
32% | $170,051 to $215,950 | $340,101 to $431,900 | $170,051 to $215,950 | $170,051 to $215,950 |
35% | $215,951 to $539,900 | $431,901 to $647,850 | $215,951 to $323,925 | $215,951 to $539,900 |
37% | $539,901 or more | 647,851 or more | $323,926 or more | $539,901 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