There seems to be a broad misunderstanding of our income tax system. Many argue that our nation could not function without the personal income tax revenue. Let’s break this down a little bit. Fuel tax that is built into the price at the pump pays for our roadways and infrastructure. Property taxes pay for the [...]
Read More Income Tax Preparation, Tallahassee Tax Service, TallyTaxMan, Tax DeductionsSmall business is indeed the backbone of our economy. All owners I talk to have one problem in common. This is marketing. There are two ways to grow your business. You can either get more customers or sell more to your existing customers. Our public school systems teach us to be good employees. Marketing [...]
Read More Income Tax Preparation, Small Business Marketing, Tallahassee Tax Service, TallyTaxManDid you know that you can deduct war reenactment expenses on your taxes? It’s true. This even held up in an IRS audit I recently helped a client with. If the event is sponsored by a public or non-profit group and it is for public benefit, then it qualifies for a tax deduction. So all [...]
Read More Income Tax Preparation, Tallahassee Tax Service, TallyTaxMan, Tax DeductionsI’m sure most everyone has heard about the new homebuyer tax credit. If you purchase home by December 1, 2009, and you qualify as a first-time homebuyer, you will be eligible for up to $8,000 in additional refund from the IRS. That’s right….they will actually pay you to buy a home. This credit does begin [...]
Read More Homebuyer Tax Credit, Income Tax Preparation, Tallahassee Tax Service, TallyTaxManAmended tax returns cannot be e-filed. You must mail them in. When filing an amended tax return, the typical response time has historically been 6-8 weeks. With the recent first time homebuyer tax credit, the IRS is getting backed up. The amended returns are now being turned around in 12-16 weeks. We have done many [...]
Read More Income Tax Preparation, Tallahassee Tax Service, TallyTaxMan, Tax Deductions