Optimize Your Finances with Expert Bookkeeping & Tax Services at Debem Tax.
Free 30 Minute Consultation
Yearly Tax Planning
Bookkeeping Service
Credit Score Repair
WHO WE ARE
We believe that selecting the right financial services firm is key to your financial success
Debem Tax Services is licensed with the IRS e-file to be able to electronically file and prepare tax returns in all 50 states. In addition to tax preparation, we understand the dynamic world of entrepreneurship and that is why we also provide yearlong bookkeeping and tax planning services.
The Tax Codes and Laws are constantly changing, and we pride ourselves with staying up to date and understanding how it will affect our clients.
OUR SERVICES
Cover Every Aspect Of Your Financial Needs
The Tax Codes and Laws are constantly changing, and we pride ourselves with staying up to date and understanding how it will affect our clients.
Free 30 Minute Consultation
Before we analyze your documents and previous tax returns,
Tax Preparation
Preparing your own income tax return can be a task that leaves you with more questions than answers.
Yearly Tax Planning
Yearly Tax Planning is critical for your business! It can be a hassle to manage all your documents.
Bookkeeping Services
We offer monthly bookkeeping services, bookkeeping clean-up, or one-time bookkeeping.
HOW TO START
We pride ourselves in understanding your needs and strategizing together!
According to a study released by the US Government last year, most taxpayers (77% of 71 million taxpayers) believed that they benefited from using a professional tax preparer.
Whether you are an individual taxpayer, a small business owner, or an independent professional, we are here to help you navigate the US tax laws/compliance plus offer you business tax return help, bookkeeping, and most importantly find ways to save on your tax liability.
(FAQs) FREQUENTLY ASKED QUESTIONS
You have questions and we have answers!
Explore our Frequently Asked Questions (FAQ) section for comprehensive answers to common queries. Find solutions, discover helpful information, and streamline your experience with our products/services.
It all starts with a phone call or an email and we will get back to you within 48 hours. We provide plenty of services and we first need to understand your needs and how we can best assist tax advisor ! We look forward to working with you and we’re here to answer any questions!
At Debem Tax Services we complete and file tax forms for our clients. With an extensive understanding of tax law, we review all of our client’s personal information, including Social Security numbers, income statements, and personal and business expenses, to determine which expenses and circumstances may result in tax deductions or credits. Based on the results of calculating a return, we also offer advice on the best steps to take to reduce the tax liability in the coming year.
It depends on a case by case basis. You typically don’t itemize if the standard deduction saves you more on your tax bill. For the 2022 tax year, the standard deduction is$25,900 for joint filers, $19,400 for heads of household, and $12,950 for single filers and those married filing separately.
All things being equal, a tax credit is often preferable to a tax deduction. Tax credits reduce your tax liability dollar for dollar while tax deductions lower your taxable income. For example, if you prepare your taxes and have a total tax bill of $10,000, a $1,000 tax credit would reduce your bill by that amount.
If you had a $1,000 tax deduction and earned $50,000 in taxable income, your income tax liability wouldn’t decrease by $1,000. Instead, your taxable income would now be $49,000. Depending on your tax bracket, that means you would save anywhere from $0 to $370 as compared to $1,000 from a tax credit.
Bookkeeping is the process of tracking income and expenses in your business . It lets you know how you’re doing with cash flow and how your business is doing overall. Every business needs bookkeeping so that you don’t have unexpected realizations about account balances and expenses. Here are 7 reasons why bookkeeping is vital to your business.