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No State Income Taxes: a Bonus or a Bummer?
Florida is currently one of only seven states without a state income tax. The other six are Alaska, Nevada, Texas, South Dakota, Wyoming and Washington. Additionally, New Hampshire and Tennessee only pay taxes on dividends and income from investments (no wage taxes.) There is much discussion over whether the lack of income tax gives a…

Florida, protect yourself from tax ID theft!
Tax ID theft is rampant in Florida. The IRS is taking steps to protect you. Florida is 1 of 3 test markets to help protect taxpayers. With the incidents of tax identity thefts rising, the IRS is working on curbing this out of control issue. Ordinarily, you would have had to be a victim of…

Advanced Child Tax Credit
Get the details on your Advanced Child Tax Credit Coming into the 2022 filing season, knowing the details needed to complete your return are very important. Access the Child Tax Credit Update Portal and get access to all you need to know. Watch the above video for tips on navigating the portal site. In addition…

2022 Mileage rates set by the IRS
Here are your 2022 Mileage rates The 2022 business mileage rate is 58.5 cents/mile driven for business use. That is up 2.5 cents from 2021 rate Qualified active-duty Armed Forces members for medical or moving purposes, the rate is 18 cents/mile driven, up 2 cents. Performing service for charitable organizations, the rate is set by statute and remains unchanged…

Simplify Mileage Tracking
Automatic mileage tracking, is that possible? With Automatic, it is now! We are constantly asking clients for mileage to deduct on their tax returns. You know who are you: Realtors, Contractors, Sales professionals, really anyone who gets a 1099. Then you give us the mileage and we ask for…….you guessed it, the mileage log… Yes, I…

Recovery Rebate Credit ( Covid Stimulus Checks)
Know the amount of your 2021 Covid related Economic Impact Payment (EIP) Last year there was a lot of back and forth over the amounts you received from the US Treasury for your Recovery Rebate Checks or EIP. The IRS has created a portal to allow you access to the information you need. This portal…