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Tax Preparation Services

Maximize deductions while minimizing taxes

Individual Tax Returns

Starting at $200.00

Standard Federal and State tax forms for filing federal and state required tax returns for all tax filing status: Single, Married Joint, Married Separate, Head of Household, Widow/Widower. *e-filing included

Individual Tax Returns with any Schedule C, E, F, K-1 or State LLCs

Starting at $350.00

Corporation Tax Returns

Starting at $650.00

Standard Federal and State tax forms for filing federal and state required tax returns and Schedule K-1 forms to all shareholders for business filing types: C-Corp or S-Corp Entities.

*e-filing included

Partnership Tax Returns

Starting at $650.00

Standard Federal and State tax forms for filing federal and state required tax returns and Schedule K-1 forms for all business partners.

*e-filing included

Nonprofit Tax Returns

Starting at $625.00

Standard Federal and State tax forms for filing federal and state required tax returns filing types: 990 series.

*e-filing included

Estate and Trust Tax Returns

Starting at $875.00

Standard Federal and State tax forms for filing federal and state required tax returns.

*e-filing included

Quarterly Estimated Taxes

Starting at *$175.00

Standard preparation and reporting federal and state applicable estimated tax payments to all tax agencies. *per quarter

Business Accounting and Bookkeeping Services

Working to keep your company books in financial shape

Reconciliations

Starting at $55 per hour

Bank Account, Ledger Accounts, Sales, and other Account types.

Payroll Services

Starting at $55 per hour

Timecard reporting, Paycheck processing, and scheduled reporting.

Financial Reports

Starting at $65 per hour

Balance Sheet, Income Statement, Cash Flow Statement, Shareholders Statement, and customized reports for profit and nonprofit entities.

Customized Services

*$$$.$$

Accounting and bookkeeping services tailored to fit your business needs. *price is negotiable

prices are subject to change

Refundable Tax Credits vs Non-Refundable Tax Credits

Tax credits can reduce your tax bill or give you a bigger refund, but not all tax credits are created equal. While most tax credits are refundable, some credits are nonrefundable. Still, before we look at the difference between refundable and nonrefundable tax credits, it’s important to understand the difference between a tax credit and a tax deduction.

Understanding the Difference between a Tax Credit and a Tax Deduction

Tax credits reduce your tax liability dollar for dollar and are more valuable than tax deductions that reduce your taxable income and are tied to your marginal tax bracket. Let’s look at the difference between a tax credit of $1,000 and a tax deduction of $1,000 for a taxpayer whose income places them in the 22% tax bracket:

A tax credit worth $1,000 reduces the amount of tax owed by $1,000 – the same dollar amount.
A tax deduction worth the same amount ($1,000) only saves you $330, however (0.22 x $1,000 = $220). As you can see, tax credits save you more money than tax deductions.

Tax Credits: Refundable vs. Nonrefundable

A refundable tax credit reduces the federal tax you owe and could result in a refund if it is more than you owe. Let’s say you are eligible for the Child Tax Credit for $1,000 but only owe $200 in taxes. The additional amount ($800) is treated as a refund.

A nonrefundable tax credit means you get a refund only up to the amount you owe. For example, if you are eligible to take an American Opportunity Tax Credit worth $1,000 and the amount of tax owed is only $800, you can only reduce your taxable amount by $800 – not the full $1,000.

Examples of Refundable Tax Credits

The Earned Income Tax Credit
Additional Child Tax Credit
Premium Tax Credit

Nonrefundable Tax Credits

Examples of nonrefundable tax credits include:

Adoption Tax Credit
Electric Vehicle Tax Credit
Foreign Tax Credit
Mortgage Interest Tax Credit
Residential Energy Property Credit
Credit for the Elderly or the Disabled
Credit for Other Dependents
The Saver’s Credit

Partially Refundable Tax Credits

Some tax credits are only partially refundable such as:

Child Tax Credit (fully refundable in 2021 and 2022)
American Opportunity Tax Credit

About Kabella J Magee Tax Services

The TaxAct Lady, Specialize in Tax Preparation to help you maximize deduction and minimize taxes.

My Story

My Expertise

At Kabella J Magee Tax Services,

I've been providing top-notch tax services to individuals and small businesses for over 20 years. I started as a minority woman-owned business and have grown to become one of the most trusted tax service providers in the

Sacramento/Bay Area and now Nationwide.

Accuracy and Efficiency in Tax Preparation.

My Expertise

As a certified tax professional,

I have more than two decades of experience in the tax industry. I specialize in tax planning, preparation, and resolution for individuals and small businesses of all sizes. My credentials can be found in both the IRS Tax Preparers Directory and California Tax Education Council (CTEC) Find/Verify a Preparer Directory.

Economically and Financially connected with the leading tax software.

My Services

My Expertise

My Services

I offer a wide range of tax services, including tax preparation, planning, bookkeeping, and payroll. My goal is to help clients minimize their tax liability and maximize their financial success. I offer support services to the small business community with financial reporting, startup, and general counsel.

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Tax Preparer = Working to Maximize Tax Deduction and Minimize Tax Debt

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PRICE LIST

Tax Preparation Services

Individual Tax Returns

Individual Tax Returns with any Schedule C, E, F, K-1 or State LLCs

Corporation Tax Returns

Partnership Tax Returns

Nonprofit Tax Returns

Estate and Trust Tax Returns

Quarterly Estimated Taxes

Business Accounting and Bookkeeping Services

Reconciliations

Payroll Services

Financial Reports

Customized Services

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Tax Withholding Help

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Need To Update Your Withholdings

Tax credits for individuals: What they mean and how they can help refunds (Click Here)

Refundable Tax Credits vs Non-Refundable Tax Credits

Understanding the Difference between a Tax Credit and a Tax Deduction

Tax Credits: Refundable vs. Nonrefundable

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