Category Archives: Tax Law
Filing a Sales Tax Protest
Florida business owners are required to collect sales tax for specific items or services and then remit those taxes to the state. A failure to turn over the appropriate amount can lead to serious criminal charges resulting in jail time and hefty fines. Fortunately, it is possible to protest an audit or assessment of… Read More »
Tax Evasion v. Tax Avoidance
Although the terms tax evasion and tax avoidance are often used interchangeably, in reality they are totally different concepts. The biggest difference between the two is that tax avoidance is legal, while evading taxes can get taxpayers in serious trouble with the IRS. Unfortunately, the line between the two concepts can seem blurry to… Read More »
Proposal for Increased Homestead Exemption to be Placed on 2018 Ballot Initiative
Florida legislators filed approximately 1,900 bills in the 2017 session alone. Only around 234 of those bills were passed by both the Senate and the House, one of which was a bill that gives Florida residents the opportunity to increase the homestead exemption on primary residences in the state from $50,000 to $75,000 by… Read More »
What is an FBAR?
Earlier this year, the United States Department of Treasury announced that the date on which taxpayers must submit their Reports of Foreign Bank and Financial Accounts (FBAR) has changed. According to the new rules, the FBAR due date of April 15 will now coincide with tax season. However, the law also grants an automatic… Read More »
Homeowner Tax Deductions
Although most people do not associate homeownership with tax breaks, the reality is that many Florida homeowners have access to tax deductions that are not available to others. To learn more about possible deductions, please contact an experienced tax attorney who can walk you through your options. Mortgage Interest Deductions Mortgage interest deductions… Read More »
Meal and Entertainment Deductions
When tax season rolls around, it is important that business owners have a record of all deductible expenses, which includes the cost of meals and entertainment. Determining which expenses are deductible is difficult, so if you have questions about your own business-related expenses, it is important to speak with an experienced tax attorney who… Read More »
Is it Really the IRS Calling?
It is not uncommon for the IRS to contact taxpayers in an effort to clear up confusion about data entered on a tax return or to request additional information to verify a taxpayer’s identity. Unfortunately, it has also become increasingly common for people to impersonate IRS officials over the telephone or via email in… Read More »
What to do if You Receive a 4883C Letter From the IRS
The IRS sends letters to notify taxpayers of a variety of different issues regarding their tax return. One of these notifications is known as a 4883C letter, which is sent by the IRS when it receives a taxpayer’s federal income tax return, but needs more information to verify the person’s identity. Providing the IRS… Read More »
Claiming the Home Office Deduction
In recognition of National Small Business Week, the IRS issued a statement reminding small business owners with home offices to consider claiming the home office deduction. Claiming these types of deductions can make a big difference for business owners, especially those who are just starting out, so if you are a Florida business owner… Read More »
What To Do If You Still Have Tax-Related Concerns After April 18
Although tax season has finally ended for most taxpayers, many people must still deal with tax-related matters, such as requesting an extension, amending a tax return, or providing the IRS with additional information. Unfortunately, these types of after-tax-day issues can be difficult to resolve, so if you have questions about these or any other… Read More »
