Tax Consulting Services & Solutions

Creations Tax Service & Consulting

Daphne Sizemore, President

We are proactive

when it comes to your tax planning & compliance.

Creations Tax Service is a unique strategic creative experience.

You can depend on us to take a proactive approach to your tax planning and compliance needs. We can offer you exceptional thinking and problem solving. While we always build on our experience from one engagement to the next, we also realize that not every client is the same. Therefore we will invest the time to understand your unique situation. We will become your strategic partner.

Creations Tax Service and Consulting is creative yet conservative in tax prep, planning, and strategy. We’ll help you develop strategies that defer your tax liabilities. And we’ll discover other tax advantages that might have been missed.

And as with everything we do, we stay current with changes in tax laws to new compliance regulations. We deliver up-to-date, informed tax services, ensuring you’re doing all you can to minimize your taxes and liabilities.

The Latest

New Tax Legislation - the Path Act

Congress passed and President Obama signed legislation on December 18, 2015 extending a number of expired tax provisions. The legislation benefits businesses as well as individuals. Some key items are highlighted below.

Section 179 is now permanent

• For 2015, Section 179 expensing limit is $500,000 with a $2 million overall limit.
• The $500,000 and $2 million limits are indexed for inflation beginning in 2016.
• Heating and air conditioning units placed in service in tax years after 2015 are eligible for expensing.
• The $250,000 expense limitation on qualifying real property is removed under this provision beginning in 2016.
• Expensing for computer software and treatment of qualified retail improvement property, restaurant property and leasehold improvement property as 15 year property is also permanently extended.

Bonus Depreciation Extension with a phase out

• 50% bonus depreciation is extended for property placed in service during 2015-2017
• Modification to 40% in 2018 and 30% in 2019

Research & Development Credit is now permanent

• Alternative simplified credit rate increases to 20%
• In 2016, businesses with $50 million or less in gross receipts may claim the credit against alternative minimum tax liability

Tax-free distributions from individual retirement plans for charitable purposes

• Permanent extension for individuals who are at least 70 ½ years of age to exclude from gross income qualified charity contributions from their individual retirement accounts (IRAs) (capped at $100,000 per taxpayer in any single tax year).

Work Opportunity tax credit extension

• The work opportunity tax credit is extended through 2019.
• In 2016, the credit is also modified for employers who hire qualified individuals who have been unemployed for 27 or more weeks and increases the credit to 40 percent of the first $6,000 earned for these long-term unemployed individuals.

Sales and Local General Sales Tax Deduction extension

• Permanent extension of the ability to claim an itemized deduction for state and local general sales taxes in the place of an itemized deduction for state and local income taxes.

What does all this mean for you?

Contact Creations Tax Service & Consulting if you have questions on this summary or want to understand how the PATH Act legislation may impact you or your business

Get in touch with

Creations Tax Service & Consulting Today!

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Contact Daphne Sizemore, President of Creations Tax Service & Consulting today and get your taxes done right! Relax, We got all the pieces...

The Office

  • Address: 4151 W. Valencia Dr. Suite 205, Fullerton, CA 92833
  • Phone: (714) 878-0228   Fax: (714) 879-1417
  • Email: [email protected]

Business Hours

  • Monday - Friday 9am to 5pm
  • Saturday - 9am to 2pm
  • Sunday - Closed

Creations Tax Service & Consulting

We help business owners and other individuals with tax goals and complexities understand, plan execute the various aspects of AMT, charitable contributions, estimated payments and withholdings, energy-saving home improvement credits, and gift tax. All of our work is tailored to the individuals needs and is integrated for both federal, state and local taxes.

Contact Us
(714) 878-0228

Fax: (714) 879-1417