Tax Preparer
COLLEGE PARK Maryland 20740

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Contact Details

  • Business
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  • Year Established:
  • 2007
  • Location
    SUITE 307
    COLLEGE PARK, MD 20740
    United States

Professional Background

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  • Credentials


Is A Capital Gains Tax On Home Sale Unavoidable?

Capital gains tax on the profit made from selling a house can be avoided to some extent based on numerous factors. The timing of sale is crucial. If you time things right, there...

Posted by CROMWELL & ASSOCIATES, LLC on 08/16/2017

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7 Reasons To Outsource Your Bookkeeping Today

Tax preparation can take a lot of time and effort even if you are an experienced accountant. For businesses trying to take care of their own income tax return, taxes, or interactions...

Posted by CROMWELL & ASSOCIATES, LLC on 08/09/2017

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Finding Out Tax Basis On Commercial Real Estate

It's critical to ascertain your commercial property's tax basis. The need to find out tax basis becomes even more pressing when you're trying to ascertain depreciation deductions...

Posted by CROMWELL & ASSOCIATES, LLC on 08/02/2017

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Preparing An Amended Tax Return

The tax return amendment process essentially entails two components. First, you would have to come up with a fresh tax return. Make use of Form 1040 and extra schedules, if any. Second,...

Posted by CROMWELL & ASSOCIATES, LLC on 07/26/2017

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Questions Commonly Asked About Missing The Tax Filing Deadline

The law is very clear that every American should file his tax return before the deadline. However, every year, millions of Americans miss the IRS tax filing deadline. People have...

Posted by CROMWELL & ASSOCIATES, LLC on 07/19/2017

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The Smart Way To Claim Parents As Dependents

About one-quarter of all U.S.families who take care of aging parents spend more than $10,000 per year doing so. In addition, at least 4 out of 10 families who care for elderly parents...

Posted by CROMWELL & ASSOCIATES, LLC on 07/12/2017

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What You Need To Know About The Tax Implications Of Owning Rental Property

Rental income is always a good way to earn additional income. Where taxes are concerned, however, things can get a little tricky. With the help of a qualified accountant, you will...

Posted by CROMWELL & ASSOCIATES, LLC on 07/05/2017

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Four Mistakes That Can Increase Risk Of An IRS Audit Of Your Tax Filing

There is no doubt that being subjected to an IRS audit involves a certain amount of luck or chance. Not everybody who deserves to be audited ends up facing one. Similarly, just because...

Posted by CROMWELL & ASSOCIATES, LLC on 06/28/2017

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Payroll Taxes And The Risks Attached To Violation

As per federal law, employers must withhold a specific amount from their employee salaries and wages and remit them to the Internal Revenue Service (IRS) as income and payroll taxes. An...

Posted by CROMWELL & ASSOCIATES, LLC on 06/21/2017

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Tips To Help You Pay Lower Tax Through Smart Tax Planning

Most people only think about their tax preparation when they want to file their tax return. The smart thing to do would be to get an education on the tax system and understand tax...

Posted by CROMWELL & ASSOCIATES, LLC on 06/14/2017

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How Do Home Sale Gain Exclusions Work?

If you didn't know, you can sell your house, make a profit on it, and not get taxed for the money you make. Not sure how this works? Well, we'll help you understand. Individuals...

Posted by CROMWELL & ASSOCIATES, LLC on 06/07/2017

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How To Claim Small Business Deductions

As a small business owner, you can make your taxable profit lower by claiming small business deductions. While you, or the accountant you hire, prepares your business tax return,...

Posted by CROMWELL & ASSOCIATES, LLC on 05/31/2017

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Four Ways To Settle Your Tax Debts Once And For All

Tax debts are no fun. They can accumulate for a myriad of reasons ranging from ignorance concerning what should be done when filing taxes, to completely unfiled tax returns. Of course,...

Posted by CROMWELL & ASSOCIATES, LLC on 05/24/2017

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How To Legally Claim Your Parents As Dependents

About 25 percent of U.S. families who care for their parents spend in excess of $10,000 each year doing so. Plus, 40 percent of all families who pay the way for their elderly parents...

Posted by CROMWELL & ASSOCIATES, LLC on 05/17/2017

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Complicated Tax Deductions You Need An Accountant To Handle

Small business deductions come in many different forms and while there are some basic expenses that are easy for anyone to figure out and deduct, there are plenty of potential deductions...

Posted by CROMWELL & ASSOCIATES, LLC on 05/09/2017

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Selling Assets: Tips For Calculating Tax Basis

Captial gains, inheritence Figuring out your tax basis when selling assets can be tricky because some transactions fall under guidelines defined under the IRS's Publication 551 while...

Posted by CROMWELL & ASSOCIATES, LLC on 05/03/2017

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How Education Tax Credit Can Help You Save

If you've been handing out dollars left and right to pay for school, you may have some benefit on your taxes this season. The IRS has a few education tax credits for parents or students...

Posted by CROMWELL & ASSOCIATES, LLC on 04/26/2017

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IRS Payment Plans And Avoiding A Large Tax Bill

While many taxpayers expect to receive a refund, many must pay the IRS, and not many people have a lump sum laying around to send to Uncle Sam. It is important to understand payment...

Posted by CROMWELL & ASSOCIATES, LLC on 04/19/2017

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Tips To Decrease Taxes On Real Estate Investment(s)

Buying a rental property could be a wonderful way to make passive money and indulge in some investment portfolio diversification. But owning a rental property is not as simple as...

Posted by CROMWELL & ASSOCIATES, LLC on 04/19/2017

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Wage Income Taxation In America

A major tax revenue for the majority of countries is courtesy wage income taxes via individual income and payroll taxes. Most industrialized nations have progressive income taxes,...

Posted by CROMWELL & ASSOCIATES, LLC on 04/05/2017

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Expensing And Depreciating-There Is A Difference

Small businesses purchase equipment to use in offices and to perform services or manufacture a product. It can be difficult to determine whether a piece of equipment should be expensed...

Posted by CROMWELL & ASSOCIATES, LLC on 03/29/2017

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The Importance Of Having Efficient Retirement Withdrawal Strategies

For any new retiree, the biggest challenge is the changeover from accumulating wealth through saving for retirement during your working days, to learning how to spend it in maintaining...

Posted by CROMWELL & ASSOCIATES, LLC on 03/22/2017

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IRS Sets Limits For IRA Contributions In 2017

While you can reduce your tax bill through contributions to a Roth IRA or another type of retirement savings account, it's important to understand that several rules dictate how much...

Posted by CROMWELL & ASSOCIATES, LLC on 03/15/2017

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5 Common Mistakes To Avoid When Filing Taxes

Tax preparation or filing taxes might be a task many business owners dread, but even if you don't have an excellent accountant on your side this doesn't have to be a time of dread. Do...

Posted by CROMWELL & ASSOCIATES, LLC on 03/08/2017

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Avoiding The IRS Garnishing Your Wages

As they say, there are only two things certain in life, death and taxes. Unfortunately, the saying is true. Even if you have unfiled tax returns, the IRS is going to want their money...

Posted by CROMWELL & ASSOCIATES, LLC on 03/08/2017

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Never Get Caught Unaware By Tax Scammers

Every time the tax season arrives, there will be fraudsters waiting to pounce on unsuspecting taxpayers. The trend has been gaining momentum with phone scams and phishing schemes...

Posted by CROMWELL & ASSOCIATES, LLC on 03/01/2017

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Tax Deduction For Business Equipment

Purchasing equipment is one of the biggest expenses that small businesses and start-ups face. The IRS allows you deduct most or all of these expenses. This in turn helps you recoup...

Posted by CROMWELL & ASSOCIATES, LLC on 02/22/2017

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Smart Tax Planning For Small Business Success

There are countless articles out there about the many different types of deductions that both individuals and small businesses can take advantage of, but arguably none of them are...

Posted by CROMWELL & ASSOCIATES, LLC on 02/15/2017

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