The death of cash has been a topic of discussion for decades now, but it’s still here. To be honest, it’s not likely to disappear fully anytime soon, if ever. But, there are much better alternatives to paper currency that can and should be used for most transactions. Let’s explore [...]
Are you one of the thousands of people who got hit with an unexpectedly high tax bill this year? Hey, it happens. Our federal tax code is very complicated, and it’s easy to overlook something that can cost you a ton of money in tax liability. And, of course, the IRS expects you to have money s [...]
The IRS has announced that victims of tropical storm Debby that struck the west coast of Florida the week of June 23, 2012 may qualify for tax relief.
President Obama has declared Hillsborough, Pasco, Pinellas and many other surrounding counties a federal disaster [...]
You’ve surely heard of the expiring “Bush Tax Cuts”. It’s big news, and we have blogged about it here. But, what you might not realize is that even if Congress decides to extend those Bush Era tax cuts, there are other changes coming that WILL increase your tax burden for 201 [...]
Think you might have paid too much with your 2012 Federal Income Tax Return? Fear not, Uncle Sam has you covered! The IRS has procedures in place that make it easy for you to correct any errors you may have made on your tax return… even if it wasn’t really an error, but you just c [...]
Everyone will pay more in taxes if the Bush Tax Cuts are left to expire at the end of 2012. Some changes will be subtle and others will be very dramatic. All of this depends on where you fall into the tax code.
The Bush tax cuts were passed in 2001 as the Economic Growth and Recovery Tax Act. [...]
Why is it taking so long to get my Tax Refund???
Your IRS refunds are going to be delayed by an extra week this year. The culprits are the fraudulent tax returns and the modernized E-File system initiated by the IRS in 2009
Fraudulent Tax Return filing has been on the rise for the last c [...]
The probability of being selected by the IRS for a federal income tax audit this year is going up. Overall audit rates for 2010 were 7.4%. This meant 7 out of 100 tax returns were picked for audit. At the recommendation of the Treasury Department the IRS is updating their relationship databases in M [...]
The Treasury Inspector General for Tax Administration (yes, even the IRS has a big brother!) performed an audit on IRS procedures for conducting audits of corporate tax returns in 2011. This procedural audit showed that Small Business/Self-Employed Division IRS examiners could do a better job of ens [...]
For 2012 Florida businesses will see tax increases over 2011 in three distinct areas. This is all related to the poor economy and high unemployment of the past few years. Simply stated, the state of Florida’s Unemployment Compensation (UC) Trust Fund is in debt to the Federal Government, and i [...]
The Secrets Behind 'Miscellaneous Deductions' Dec 10th 2017 12:00am
Want to reduce taxable income and the dough you have to fork over to the IRS? You may not have considered some work expenses — uniforms, for example — that fall under the category of miscellaneous deductions. So here's the deal: Itemize deductions rather than take the s...