If you intend to transfer your assets, which include money or property, to someone who is not your spouse or dependent as a gift, know that you will be required to pay a gift tax. Let’s dive into the fundamentals of gift taxation to help you understand how to navigate the laws surrounding it.
What Is […]
Many people think of tons of assets when they hear the word “Estate.” Not every estate is huge. Every person has an estate that consists of any assets you own. Even if you have a bank account and one car, you have an estate. If you become incapacitated or die, regardless of age, your estate […]
The best way to navigate business taxation, especially if you are getting ready to start a new business, is to retain a Florida business tax attorney. When determining which type of entity you want to use, you must look at the tax ramifications of each type. For example, a small business might benefit more from […]
Something everyone aged 18 or older should have is an estate plan. You don’t have to be a millionaire to have an estate plan. If all you have is a bank account and a vehicle, your assets must go through probate if you die. All it takes is an unexpected accident or illness. A Florida […]
You want to pay as little income tax as possible – or receive the most money back if you are due to receive a refund. Filing taxes on your own takes a lot of research every year to ensure that you don’t pay more than you should. Tax deductions and credits change frequently, and if […]
Tax time for businesses is often a complicated process. If you don’t have a good tax attorney, you could end up getting audited for mistakes an accountant makes. Florida tax lawyers must stay up to date on the newest tax laws, including business deductions. Another benefit of using a Florida tax attorney is that should […]
When you make life changes, such as getting married or divorced, it affects how you do your taxes. Other life changes that affect your taxes include having a family member die, having a new baby, buying a house, and changing jobs. The changes could affect how much you get back or how much you pay […]
You might think your taxes are set in stone on December 31, but that isn’t always the case. You can do some things in January that will help reduce your tax obligation. And, you can get ready for tax season so you won’t be doing everything at the last minute. The sooner you get your […]
For every loan you take, you are given a timeframe to pay your debt. Failure to do this could see you relinquish your assets. However, there are certain steps you can take to protect your personal assets and, by extension, keep them away from your creditors. This whole process is called asset protection.
Here is a […]
If you are an independent contractor, you file taxes as a self-employed person or company. You can operate as an S-corporation, sole proprietor, or a limited liability company. However, most independent contractors are sole proprietorships.
The Internal Revenue Service (IRS) dictates that you must file taxes like anyone else. The way you file depends on how […]
