Claiming Your Parent as a Dependent
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks.
While monitoring tax liability is clearly an objective, our real concern is for your peace of mind. Assessing our client’s needs and recommending the best strategy is our first step in gaining financial stability for both you and your business. We apply our expertise proactively, structuring and detailing each transaction, guiding decisions and planning to reduce your taxes whenever possible. In addition to our in-depth knowledge of NYS and US tax laws, we advise on international tax issues and regulations.
For your business, our multidisciplinary tax team has expertise in almost every local industry and has successfully addressed unique situations that will benefit your business. Our clients are given a complete check-up and a detail of proposed tax strategies that will enhance your business plan and vision for future growth.
Our tax services for individuals are numerous, from personal income and tax preparation to family wealth and personal financial planning we can help you identify and prioritize your objectives and goals.
For more information on Lumsden McCormick tax services contact an assurance service leader or complete the form below.
Understand what opportunities are available to help your business grow such as 0% state corporate income tax. Ask Cory and Alan questions at the end of this informational webinar.Learn More