Tax Services for Individuals or Small Businesses
Individual Tax Services
Our staff is knowledgeable and up-to-date on all the new tax codes. We offer tax services that are easy to understand, and offer the biggest refunds possible. We provide e-filing whenever desired and applicable to allow for the fastest returns for our clients.
Small Business Tax Services
Cowdery Tax & Business Solutions specializes in small business and farm return preparation, utilizing Schedules C, E and F (see Common Forms). We can prepare any quarterly taxes for your business. These include 941 payroll, state withholdings, sales tax, unemployment, workers’ comp, city and local taxes.
Local Tax Return Services
Cowdery Tax and Business Solutions is conveniently located in south eastern Ohio. We are able to service returns for both Ohio and West Virginia including all federal, state and local taxes.
National Tax Return Services
We are able to service all clients nation-wide. We currently serve clients in Ohio, West Virginia, Tennessee, Arkansas, Texas, Florida, Missouri and Colorado. Give us a call so that we can assist you with your tax return needs at a much lower fee than national chains.
Are you confused by all of the forms needed to complete a return? Use this handy guide to help you understand, or give us a call at 740•374•6942 and we will walk you through gathering the documents you need.
Tax Return Common Forms
Itemizing (Schedule A)
Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money made for medical care, mortgage interest, taxes, charitable contributions, casualty losses and misc. deductions can reduce your taxes. If the total amount spent on these categories is more than the standard deduction you can usually benefit from itemizing. Medical expenses have to be more than 7.5% of your AGI before you will benefit. If you are married filing separately and one itemizes, then the other must itemize as well, whether it is beneficial or not.
Small Business/Self-Employed/1099-Misc. (Schedule C)
In general, a person may deduct ordinary and necessary expenses for conducting a trade or business. Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit. Therefore, there are many things that you can use as deductions on your tax return such as: advertising, contract labor, depreciation of certain items, interest, office expenses, rent, repairs & maintenance, supplies, certain travel expenses and mileage.
Capital Gains (Schedule D)
Almost everything you own and use for personal purposes, pleasure or investment is a capital asset. When you sell a capital asset, the difference between the amount you sell it for and your basis, which is usually what you paid for it, is a capital gain or a capital loss. You must report all capital gains. Your personal home is excluded as long as you lived there for at least 2 of the last 5 years.
Rentals/Royalties (Schedule E)
You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use or occupation of property. Expenses of renting property can be deducted from your gross rental income.
Farms (Schedule F)
The ordinary and necessary costs of operating a farm for profit are deductible business expenses, which include feed, fertilizers, lime, gas, fuel, oil, rental of equipment, depreciation of equipment, etc.