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Tag Archives: Tampa Tax Law Attorneys

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You Can Challenge a Florida Tax Audit

By David Toback |

The Florida tax process can be harrowing, to say the least. Sometimes after the audit is complete, you just pay what you owe and move forward. However, there are times that you may not be satisfied when the audit is over. The auditor may be attempting to pressure you into paying immediately, or you… Read More »

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Tax Laws Apply to Cryptocurrency

By David Toback |

Cryptocurrency, which once was just Bitcoin, and now is seemingly a slew of online virtual currencies, is becoming more and more a part of our world. The news seems obsessed with reporting on it as an investment, particularly the swings in value that are more dramatic than any traditional stock or investment. Whether you… Read More »

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Sales Taxation for Online Purchases May be Coming

By David Toback |

You may not have noticed, but when you buy something online, rarely is there a sales tax imposed the way there is when you buy something locally, at a brick-and-mortar store. You may be wondering why Uncle Sam doesn’t want its cut of those transactions. The answer lies in a 1992 Supreme Court decision,… Read More »

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Proposed Tax Law Changes Could Affect Alimony Taxation in Divorces

By David Toback |

Whether you like the contents of the new tax or not, there are things you should be aware of. More than a few parts of the new bill will affect taxes, but one area that will affect the most people affects how alimony payments are taxed. Divorces Call on Many Legal Areas  Law is… Read More »

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Business Startup Costs Can Provide Good Tax Benefits

By David Toback |

So you’re starting your own business, and you have some significant startup costs. And while you’re worried about making that money back, you are at least comforted with the idea that you’ll get a break on your taxes given all the money you’ve spent on your startup. In fact that’s only partially true. The… Read More »

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What is the Earned Income Tax Credit?

By David Toback |

As numerous tax programs are discussed and Washington debates the pros and cons of various aspects of our tax code, one area that we seem to hear a lot about is the earned income tax credit (EITC). This tax credit is either a benefit to working families, or a provision of the code that… Read More »

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Tax Consequences of Loans and Gifts

By David Toback |

When the bank loans you money, it’s pretty clear that it’s a loan. The bank will make sure of that by making you sign documents evidencing you’re taking out a loan. But sometimes the line between a loan and a gift isn’t so clear. Loans or Gifts? If Cousin Louis “gives” your business $50,000… Read More »

What Is the Trump Tax Loophole?

By David Toback |

The news is all abuzz about Donald Trump’s taxes, and tax losses, which, according to media reports, could have allowed him to legally avoid paying taxes for years after he claimed the loss. Aside from any political argument, many may be wondering if and how that’s possible, and whether people who aren’t billionaires can… Read More »

IRA Tax Exemption Law Benefits Elderly and Charities

By David Toback |

The IRS tax code contains many different tax exemptions and ways for people to minimize their tax liabilities. Some of these provisions have been with us forever, and will likely never change significantly. But some come and go, depending on the economy, or the mood of congress. One popular tax break, which benefits the… Read More »

Debt Forgiveness Can Have Tax Penalties

By David Toback |

When many people owe debt, they may have little financial option other than to negotiate the debt down to a manageable, payable amount. Sometimes this can include negotiating a waiver, forgiveness, or reduction of the debt. In the short term, the ability to pay off a debt for less than its full amount seems… Read More »

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