Lebron James Haters Quit Hating and Accept the Heat…As a Glorious State Income Tax Haven

In Florida Tax Issues, Tax News by Sarah E. Martello

On July 8, 2010, much to the chagrin of Cleveland Cavaliers owner Dan Gilbert, the city of Cleveland, and millions of NBA fans, free agent Lebron James announced his decision to play for the Miami Heat.  The controversial move became a media obsession with James agreeing to a less lucrative contract to boost Miami’s ability to sign other key free …

Discharging Tax Debt through Bankruptcy

In Common Tax Questions, IRS Tax Help by Sarah E. Martello

After the “fallout” from 2008, we all probably know someone who has filed Bankruptcy – Many of whom wiped out a majority of their debt, including some or all of their IRS tax liability.  Unfortunately, you may have a hard time keeping up with “the Joneses” down the street who are still bragging about kicking the IRS to the curb …

Capital Gain Rates in 2011

In Common Tax Questions, Florida Tax Issues, IRS Tax Help, Tax Planning by Sarah E. Martello

Many taxpayers lose out on advantageous tax breaks because they are unaware that many things they own qualify for lower capital gain tax rates. Almost everything you own and use for personal or investment purposes is considered a “capital asset.” Some examples of things you may own that are capital assets are: 1. stocks and bonds held as investments; 2. …

Missed the 2010 Tax Return Filing Deadline?

In Common Tax Questions, IRS Tax Help, Tax Planning by Sarah E. Martello

If you missed the April 18th deadline to file your 2010 Tax Return, it’s not too late.  While you consider whether it’s worth the hassle to file your late return, here’s some things to keep in mind: PENALTIES AND INTEREST.  For every day your tax return is late, filing penalties, payment penalties, and interest will incur on any tax you …

Happy Tax Day – April 18, 2011

In Florida Tax Issues, IRS Tax Help, Tax Planning by Sarah E. Martello

Despite being a few days late this year, Tax Day is here!  For you procrastinators, don’t freak out quite yet.  You still have until midnight tonight to electronically file (e-file) your return.  Alternatively, your return must be postmarked today. The IRS now has FREE e-file for all taxpayers (including all forms and schedules).  Beware of the companies like Turbo Tax …

Liberty Tax Service Alleged “Crack for Tax” Scandal

In Florida Tax Issues, IRS Tax Help, Tax News, Tax Planning by Sarah E. Martello

Last week I spoke about the raid and bust of On Time Tax Consultants for allegedly scamming low income taxpayers.  Unfortunately, On Time Tax Consultants are not the only local tax preparation service targeting lower income individuals in our community.   Liberty Tax Service, located at 3320 Southwest 35th Boulevard, Gainesville, Florida, has also been under investigation for preying on low …

Free Tax Return Help!

In Florida Tax Issues, IRS Tax Help, Tax Planning by Sarah E. Martello

Need Help Filing Your Return, but Can’t Afford a Tax Prep Service? You May Qualify for FREE Tax Prep Assistance! If you need help filing your income tax returns, but think you cannot afford a tax preparer service, beware! Some tax preparation providers may offer you a lower fee or offer to take a percentage of your return amount – …

Alleged Tax Scammers Target Lower Income Taxpayers

In Florida Tax Issues, IRS Tax Help, Tax Planning by Sarah E. Martello

The IRS is cracking down on Tax Fraud by Return Preparers. While most tax return preparation providers are competent  to handle most of your tax return needs, there are still those lurking amongst us whom are con artists filing fraudulent tax returns and stealing their client’s money. Don’t believe it can happen to you?  Think again! On March 24, 2011—just …