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 At Tax Refund Express we offer Tax Preparation Services for Businesses, Individuals, Sole Proprietorships, Independent Contractors, Partnerships, C Corporations and S Corporations.
Filing accurate Income Tax Returns is key for both you and your business, and too often can become an overwhelming task. Keeping up-to date with all the tax law changes and considering all the variables influencing your Tax Return Preparation can become a complicated task.
Using an Income Tax Preparation Service company will ease the process, and you can rest assured that your Tax Return will be filed timely and accurately.
Over the years we have demonstrated that we take the Income Tax Preparation process very seriously, and we make sure we complete each and every step taking into consideration every variable. The result is an accurate tax return filed on time!
2007 Standard Deduction and Exemption
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Individuals
Single under 65 $8,750
65 or older $9,750
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Head of household under 65 $11,250
65 or older $12,250
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Married, filing jointly*** under 65 (both spouses) $17,500
65 or older (one spouse) $18,000
65 or older (both spouses) $19,000
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Married, filing separately any age $8,750
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Qualifying widow(er) with dependent child under 65 $14,650
65 or older $15,650
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*If you were born on January 1, 1942, you are considered to be age 65 at the end of 2007.
**Gross Income means all income you received in the form of money, good, property, and services that is not exempt from tax, including any income from sources outside the United States (even if you may exclude all or part of it). Do not include Social Security benefits unless you are married filing a separate return and you lived with your spouse at any time in 2007.
***If you did not live with your spouse at the end of 2007 (or on the date your spouse died) and your gross income was at least $3,400, you must file a return regardless of age.
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2007 Standard Tax Deductions
Single $5,350
Married filing joint returns/Surviving spouses $10,700
Head of Household $7,850
Married, filing separate return $5,350
Dependent standard deduction minimum $850 or sum of $300 plus earned income
Additional standard deduction for aged or blind $1000 each ($1350 if individual is unmarried and not surviving spouse)
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2007 Personal Exemptions
$3,400/person
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