When you name an agent and sign a power of attorney, you give the agent the authority to act on your behalf. You, as the maker of the power of attorney, are the principal. Estate probate attorneys and business law attorneys draft a power of attorney for their clients as part of estate plans. In […]
While Florida does not have a gift tax, you do have to pay a gift tax to the federal government. The gift tax rules are complicated in that they have limits for yearly gifts and lifetime gifts. If you gift someone something that is worth more than $15,000 in one year, you’ll have to report […]
Have you ever started to prepare to do your taxes or send information to your tax attorneys and found that you were delayed because you did not have one or more documents you needed? Not only is it frustrating, but it also delays the filing of your taxes. If you are getting a tax refund, […]
Florida probate is a lengthy process and is expensive. When you plan ahead of time, you can avoid probate in many cases. Planning ahead means creating an estate plan. While you might think it is expensive to retain an attorney to help you create the estate plan, it is not as expensive as going through […]
Once you retire, you might need to update your will and estate documents to reflect any changes in your life. In addition to changes because of retirement, you may have made changes to your assets, but never updated your estate documents. This is the time to review your entire estate to make changes to beneficiaries, […]
When you are ready to file taxes, you can file online, or you can choose to use a tax attorney. Both methods have benefits, though those with more complicated tax scenarios might be better off filing with a business tax attorney; unless they have extensive knowledge of tax law. Regardless of which method you choose, […]
Some businesses might benefit from filing their taxes later, rather than sooner. If your business taxes pass through to your personal taxes, filing later gives you more time to max out your retirement deposits, find all those receipts, or get your deductions in order. However, you have to remember, while you can get an extension […]
Living in Florida gives you a pretty big tax advantage when you retire. In fact, the state ranks as one of the most tax-friendly states for retirees with an average sales tax of 7.05 percent and no state income tax. Sales tax, however, is county-based and some counties tax as high as 8.5 percent. On the bright side, Florida […]
Independent contractors are usually self-employed or freelancers. When it comes to paying taxes, you’re on the hook for the whole amount, instead of sharing the tax burden with an employer. The Internal Revenue Service (IRS) has a specific definition for an independent contractor to help determine whether you are, in fact, an independent contractor or […]
Florida has no death tax. Business taxes are handled based on the rules for the Internal Revenue Service (IRS). However, an estate might have to pay business taxes upon the death of a business owner, depending on how the business owner structured his or her business. Because business law and tax law is complicated, it […]
