Wednesday, September 29, 2010

Stop Struggling with Those Tax Forms and Let a Professional Do the Heavy Lifting

Taxes confuse millions of Americans every year. The tax code is complicated, frustrating, and often times it feels like you need a degree that no one has even heard of to decipher what the language means. If you are tired of being overwhelmed every April by the archaic tax laws, you may be well served to seek the help of a Florida tax preparation professional.

The biggest benefit of letting a professional handle your tax preparation needs is that they actually know what they are doing. A professional knows the laws, knows where to look for deductions, and makes sure that you are liable for the least amount of taxes you can be. The money you spend for the use of a tax accountant will be more than made up for by the savings they find for you on your tax returns.

The other big reason to use a tax accounting firm to handle next year’s tax returns is the time it can save you. Instead of spending hour after frustrating hour trying to decipher the cryptograph that the tax forms are, why not let someone that works with them on a daily basis handle that. Letting a tax professional prepare your taxes means you only need to go meet with them, answer a few questions, and they do the rest. A professional will be able to make sure that you use all of the deductions you are eligible for and help you maximize your tax costs.

If you would like to find our more ways that a Florida tax preparation accountant can assist you with your tax filing needs, visit us at
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Monday, September 27, 2010

Florida - One of Best Values in Nation for Property Taxes

If you are thinking of relocating to Florida, one of the first questions you are likely to have concerns the property taxes. Having a home is important to all of us, and in the uncertain economic climate we currently find ourselves in, how much we have to pay for that home is more important than ever. Luckily, Florida property taxes are some of the most reasonable in the country.

The median price for a home in Florida is $189,500. In many states that would put your taxes at $2,000 a year or more. However, with the Florida property tax rate sitting at 0.79% of your home’s value, if you owned the average Florida home, your taxes would amount to less than $1,500 annually. For many people, the property taxes on a home can be the difference between comfort and struggling. Florida’s tax rate currently comes in as the 28th highest in the nFlorida population density map based on Census...Image via Wikipediaation, meaning that you pay less per dollar of your home’s value in Florida than you do in over the half the states in America.

On top of the already low property tax rate, if your Florida home is your primary residence you can also claim a homestead exemption to lower your property tax obligations even further. In many cases, the homestead exemption can cut your property tax liability to half, or less, of the stated tax rate.
To learn more about Florida property taxes visit us at for find out more about the options available to you.
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Wednesday, September 22, 2010

A Good Accountant Is More than Just a Number Cruncher

One of the most important things that your Florida accountant will do for you is prepare and file your tax returns. You know how big of deal this can be. Nobody wants to get audited, but sometimes it is just time for your number to be called. When that day arrives and you get the notice from the IRS in the mail that you are going to be audited, you need to be able to be confident that nothing will come of the audit. If you took the time to find a reputable and trustworthy accountant you will have nothing to worry about.

Finding an accountant that is knowledgeable about tax laws is important. Your accountant’s job involves more than just being good with numbers. They need to be able to limit your tax liability as much as possible without leaving your vulnerable to penalties. Tax laws are complicated, and hiring an accountant that is not familiar with them can be a big mistake. Even if your accountant has the best of intentions, if they are unfamiliar with the laws and regulations, they may be leaving deductions on the table. Even worse, they may be telling you that you can deduct some things even if you cannot. Leaving money on the table is bad, but taking money that should not have been yours in the first place will cause big headaches for you should you ever be audited.

Take the time to sit down and interview your potential Florida accountant. Make sure that they are knowledgeable about current tax laws and regulations. Find out what the results of audits performed on their work has been, and there are likely to have been at least a few audits, and make sure that you are comfortable with the choice you select.
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Friday, September 17, 2010

Solar Panels, Wind Turbines and Insulation…Bring you back the Green

Did you know about the Green tax credits? Yes, they exist and you can start to keep record and get a tax break at year end! Plan ahead and soften the tax burden. If you are unsure on how to begin, get an opinion from a CPA (certified public accountant) who has directly related experience in tax planning for businesses and individuals. These professionals are kept abreast of the leading and current tax cuts to benefit the community. In taking advantage of what the federal government has put out there, each company is opened up to obtain a hiring credit for loosening the unemployment load, green taxes for being proactive about kindness to the environment.

The federal tax credits can get you and your company a whopping $2400 to $5000 just for the federal hiring benefits. Imagine the savings can double for being kind to the environment and making some “green” changes to your office. What type of green changes can you make? The first thing is insulation and windows. In the winter, heat escapes and in the summer, air conditioning does. So, replace those old windows, touch up the caulk and insulate that attic! Next, install energy saving appliances. They exist for every item you have including the light bulbs! As far as the businesses, try out solar panels…they are expensive in the beginning, but the tax credits pay for them and the following year, it is direct money back in your pocket! Going green is the new black, so become one of the shining stars obtaining the Green Tax Credits.

Tuesday, September 14, 2010

What does a Certified Public Accountant do for a Business?

A Florida CPA (Certified Public Accountant) can assist you with many financial aspects on both an individual basis or for a business. An accountant’s responsibility is to ensure a business and personal finances are kept in good record and paying taxes on schedule. The accountant does not have a simple job. Generally speaking, the accountant provides a vital function to businesses and the layperson alike as a wide array of public management, government issues and internal auditing is looked after.

To become a certified public accountant, one must have a bachelor’s degree in accounting services. During this time, the professional learns auditing, consulting services and tax preparation. These skills are directly applied to tax situations, advertising and over all budgeting of a business. Some accountants break down their specialties even further by dealing in employee benefits or data processing. Or, in today’s market, they want to make a go of it on their own by opening up their own firms.

If the accountant is part of a larger firm, positions such as the management accountant take stage. These people are part of an upper management, executive level that deals with budgeting of the firm, performance reviews of staff, asset management and cost productivity. The team and individuals are strategic in planning their products of focus and prepare all financial information for the client’s creditors, regulatory offices and tax personnel. There are so many avenues you can take in searching for a CPA to handle all of your financial details. Take a close look at what each firm or individually owned office specializes in handling and then choose your Florida CPA.

Thursday, September 9, 2010

What is a Sales and Use Tax?

Florida sales and use tax can cover so many areas of business. I was tired of the every day monotony of working a daily job and decided to make a leap. I was on the hunt for a home to remodel and resell. Some of us call it “flipping”. The real estate market was a buyers market and prices were red hot. In searching on the web, I had come across a large property with a small 3 bedroom home that needed some work and it was under my price range so I went for it.

I was only required to pay less than $500 per month for my mortgage and so I took the remainder of my down payment and started work on the place. It was in a small town and the local lumber company was just 3 miles away with the county clerk’s office just 5 miles away to take care of the tax deeds. So, I set out to visit the appraiser’s office to ask some questions. I found out that the properties in the area were having amazing deals and that I needed to grab up some additional land.

In continuing my quest for ending the 9-5 daily work schedule, I thought that writing tax deeds was the way to go. I couldn’t figure it out on my own and maybe there was a company that would hire me to work from home so that I can arrange my own hours and not be stuck in an office. This avenue I took in sales worked very well for me and it can for others. If you are not able to do this, or do not have the desire, yet want to own property, contact a Florida sales and use tax team that can assist you.

Friday, September 3, 2010

Taxes, Taxes Everywhere

Florida property taxes have a list of tax reform propositions that have come through the state in the last year alone. This is done through the Budget Reform Commission. Of course, it repeals school property taxes and then replaces them with the new state sales tax under the “services” category. Back in 1987, the taxation of such services only lasted a few short months as it was repealed by legislature due to strong opposition.

The former state senator McKay sponsored the proposal and it came under attack immediately by those who have business interests. No one wants to see the local small businesses go out of business and have to layoff thousands of workers. The opposition had claimed that the state was going to levy taxes on services, ones that could have been transferred to a neighboring state.

If the proposal went through, this could cut property taxes by as much as 40% and it has received a great review from business that would normally pay a disproportionate share of the property taxes. Target areas are now exempt such as accounting, print services, transportation, food, medicine, energy and other essential services.

In my opinion, reducing taxes always makes individuals and businesses happy. Do not swap out services for taxes or raise taxes on one just to reduce on another. We must all work together to reduce our expenses. We have to do this in our homes, why not require the state to do the same! Be aware; be informed of all Florida property taxes and the laws around them.