Losing property to a creditor can be painful. Paying income tax as a result of such loss adds insult to the injury. Fortunately, foreclosures and short sales do not always create income tax obligations. Even when tax is otherwise due, it is sometimes possible to reduce the tax owed through…
A property owner is now required to notify the Property Appraiser when there has been a change of ownership or control of non homestead real property. This is significant because the Property Appraiser must now be notified in writing of changes in ownership or control even when the change is…
In June the Florida Legislature approved legislation intended to provide property tax relief to Florida taxpayers. Senate Joint Resolution No. 4-B proposed amendments to the Florida Constitution, which the voters of Florida will be asked to approve at an election on January 29, 2008, if an appellate court overturns a…
The letter from the Social Security Administration arrives and, on its face, it looks innocent enough. When you read its contents, however, your first reaction may be one of alarm. The Social Security Administration has determined that the names of several of your employees and the social security numbers they…
After the holidays, I have found there is nothing more exciting than taxes and tax season in general. Everyone already has a good working knowledge about ad valorem and non-ad valorem property taxes. I thought it would be interesting (or, in the alternative, sleep inducing) to summarize the other types…