Tax Help in Charleston

In Need of Tax Help in Charleston? The Clem Collaborative is Your Answer.

Filing taxes is one of those things that everyone has to do, but very few are familiar with. Tax help is something that everyone needs and there is no reason to be ashamed that you are unfamiliar with a complex topic.

You’re not alone, according to a study by TaxSlayer, 57 percent of Americans are not confident in their ability to file their taxes and need tax filing help.

With that in mind, we want to help you feel a little less worried about taxes this year. The team at The Clem Collaborative are experts and can answer all your tax questions, no matter how complex. Stop by our Charleston SC office or schedule an appointment to get tax return help from people who know how to get you the most for your money.

Common Tax Questions

Do I need to file taxes?

If you’re searching for tax help in Charleston, chances are you most likely are required to do your taxes. There are a number of factors that determine your requirement to file taxes. Income, filing status and age play a big factor, but there are other unique cases too like whether someone can claim you as a dependent.

• Usually the biggest factor is your gross income. Gross income includes:
• Retirement benefits
• Investment income
• Business income
• Self-employment income

If your gross income is above a certain amount combined with other factors you’ll have to file. For the latest tax filing requirement information you can check the IRS’s website.

Even if you don’t owe any taxes you may still have to file. If you’re unsure or have a unique situation you’d like to discuss, give us a call and we’d be happy to help.

What are tax credits and deductions?

One of the most common questions people who are looking for tax return help have is about claiming deductions and credits. The two are sometimes used interchangeably, but they are indeed quite different.

Credits

It is likely that you’ve heard of several major tax credits.

• Earned Income Tax Credit benefits lower income families.
• Child Tax Credit benefits people with children up to $2,000 per child.
• Foreign Tax Credit is for taxpayers working in another country.
• Adoption Credit will cover up to approximately $14,000 in adoption costs.

There are many others, but what credits do is directly reduce the amount of tax you owe. So, if after reporting income and deductions you owe $5,000 in taxes and your credits add up to $2,000, you’ll only owe $3,000.

Deductions

While credits directly reduce the amount of taxes you owe, deductions reduce the amount of your income that can be taxed. It’s a subtle, but significant difference and they come in a couple forms. Itemized deductions, like charitable donations or medical expenses, are very common and very often go unreported. This is why getting tax help from a professional can save you money in the long run.

Are there tax changes I should know about?

The IRS website always has the latest information about changes to the tax code, but additionally any good tax accountant will be able to help you as well.

Steven Clem dedicates time each year to expanding his tax expertise. In 2004 he sat for – and passed – the IRS-administered Enrolled Agent Exam. The EA is the highest level of tax certification one can obtain, and it is a designation held by less than three percent of tax professionals.

When will I get my refund?

Where’s my money? This is maybe the most important of all the tax questions people ask. Many people either depend on their refunds or use them to pay for home projects or other life improvements.

According to the IRS, 9 out of 10 refunds are issued within 21 days, but there are always situations that may cause your refund to arrive later. The fastest way is to submit them electronically and have your refund direct deposited into your bank account.

You can always check your refund status at the IRS “Where’s My Refund?” site.

Individual Tax Help

If you’re in need of tax help for your individual taxes you’re in the right place. Individual taxes don’t just apply to individuals filing as single. Married with kids, married without kids, and a whole host of other statuses round out what qualifies as individual taxes.

If you have tax questions or need tax filing help as an individual and are located in Charleston SC, Mount Pleasant SC, or areas close by, you’ll want to consider the Clem Collaborative. We’ve been in business for years.

Small Business Tax Help

Running a small business can be a lot of work. For many people it’s a new venture and while they are excited about the services or products they offer, they are completely overwhelmed at all the other aspects of running a business. One of the more common fears is concerning money.

There are a whole new set of rules and regulations when it comes to taxes for owners. Those looking for small business tax help should seek the help of a tax professional to get the most for their money.

Clem Collaborative has been working with small businesses for years to help them take the stress out of their taxes and get back to working on their business.

Charleston SC Tax Help

Our founder, Steven Clem prepared his first professional tax return more than 20 years ago during his freshman year in college at the request of a friend. A lot has changed since then, but Steven’s down to earth and collaborative approach is what has given the firm the success it has earned over the years.

If you have tax questions or need tax help of any kind working with the Clem Collaborative will help you feel at ease about a confusing topic. Isn’t it time you felt some peace of mind about your money?