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
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
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?
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
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 …
Audit Gamble – IRS Steps it up Against Tax Cheats
Knowing the chances of the IRS auditing your Income Tax Return is relatively slim, are you willing to take that gamble and “modify” the figures on your return to maximize your refund or minimize the taxes owed? If so, you are definitely not alone! But before you turn in that return, you might want to consider this – even the …
Florida Hooters Closed For Tax Liens – Tax Auction This Saturday (4/16/2011)
The Notice of a Tax Auction Posted on the Gainesville Hooter’s Entrance
Liberty Tax Service Alleged “Crack for Tax” Scandal
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!
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 – …
Update on the Alleged Gainesville Tax Scam
Yesterday, we talked to you about a local story covering the bust and raid of Gainesville, Florida tax return preparation business, On Time Tax Consultants. Attorney Sarah Martello was interviewed by GTN news for insight on the situation and advice for potential victims of tax preparer scams. You can take steps to protect yourself from tax prep scams by using …
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