Tax Solutions

K & K Financial and Tax Services

Tax Solutions

K & K Financial and Tax Services is a full service financial firm with a team of expert income tax preparers. Taxes are not just a seasonal business for us. We handle tax related work throughout the year and pride ourselves by offering personalized customer service. Our success is not based on the number of income tax returns we complete but rather by the quality of the income tax preparation service we provide to our clients.

Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income. We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars. Our goal is to have businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.

"The most pain I feel — my accountants will tell you this — every time I write a check to the IRS. It's a ceremony. They come in — for years they came in with wine — now they come in with tequila." - Oprah Winfrey

Tax Solutions Services

K & K Financial and Tax Services
  • Tax Preparation
  • Tax Planning
  • Tax Consulting
  • Tax Review
  • Tax Disputes Resolution
  • Tax Compliance
  • Tax Debts

Ask Keryl Tax Solutions

If you and your spouse file separate returns and one of you itemizes deductions, the other spouse will have a standard deduction of zero. Therefore, the other spouse should also itemize deductions. You may be able to claim itemized deductions on a separate return for certain expenses that you paid separately or jointly with your spouse. Deductible expenses that are paid out of separate funds, such as medical expenses, are deductible by the spouse who pays them. If these expenses are paid from community funds, the deduction may depend on whether or not you live in a community property state. The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. In a community property state, the deduction is, generally, divided equally between you and your spouse.
Legal fees incurred or paid for a divorce are personal in nature, and are not generally deductible. However, legal fees incurred or paid for the production or collection of taxable income may be deductible. You may deduct legal fees for collecting alimony because alimony is taxable income. These deductions are taken on line 22 of Form 1040, Schedule A, Itemized Deductions.
If you are divorced or separated, you may be able to deduct the alimony or separate maintenance payments that you are required to make to your spouse or former spouse, or on behalf of that spouse.