Below you'll find a list of all posts that have been categorized as “Taxes”
Florida’s New Homestead Exemption: What Homeowners Need to Know About the Updated Law One of the biggest benefits of living in Florida is the Homestead Exemption, which reduces the taxable value of your primary residence. Recent legislative changes have enhanced the Homestead Exemption, further bringing down yearly property taxes for Florida homeowners. [TABLE OF CONTENTS] What is Homestead? Homestead could …
Trump’s Tax Plan Changes: Your Business Needs to Be One Step Ahead Donald Trump’s campaign included a range of tax modifications for individuals and businesses, and we’re still waiting to see which ones will make it into law. Many of President Trump’s tax plan changes could have a significant impact on corporate tax liability—and depending on how you structure your …
Year End Tax Planning Guide: How to Meet Deadlines and Avoid Penalties You’ve got enough stress in the final weeks of the year without worrying about Tax Day. Unfortunately, some year end tax planning strategies can only be put in place before December 31. So, as hard as it might be, it might be worth it to pull away from …
IRS Cracks Down on Income Tax Evasion Through Trusts If something seems too good to be true, it definitely is. Unfortunately, many people still attempt tax evasion through trusts, funneling their money through bogus entities and foreign corporations—and it isn’t pretty when the government catches up with them. The actual truth? Ignoring your wealth planning attorney’s advice has a better …
Tips to Pay Lower Income Taxes Next Year (No Matter Which Tax Bracket You’re In) Next year’s taxes are probably the last thing you want to think about, especially if you’ve recently filed your return. However, forming a tax strategy can mean less stress during tax season and more money in your pocket. If you’re an employee, business owner, high …
Use the 529 Plan Rollover to Turn a College Fund Into a Retirement Fund Your child’s graduation day is approaching, and there’s still plenty left over in their 529 plan. Should you spend the balance, shift it to another investment, or keep the account open in case they want to go back to school? There could be an even better …
Beginner’s Guide to Filing Business Taxes in Florida Tax compliance can be a hassle, especially when you’re juggling a busy schedule and the demands of running a company in the Sunshine State. Overwhelming as it may be, filing business taxes in Florida correctly is key to setting your small business up for success. But where should you start? Our guide …
You probably know deeds are legal documents that transfer legal ownership of an asset from one party to another. However, you might not know that there are a myriad of deeds used in each state, each with different powers and limitations. The one you need depends on when and how you want to relinquish control of a property. For example, …
Filing your taxes for the first time can be overwhelming. The good news is that a little preparation can reduce a lot of the stress and anxiety new filers experience at tax time. Here, our legal practice breaks down the key steps and offers a peek behind the curtain, exploring best practices for record-keeping and minimizing tax liability. This intro …
S Corp Tax Saving Strategies: Smart Planning and Words of Warning Small business owners operate on slim margins, so it’s only natural to look for ways to save money. If you’re an owner of an LLC, you could reduce the amount of taxes you owe by electing to become an S Corporation (S Corp), a popular business structure that couples …
