A federal tax lien on real or personal property may be terminated or altered in the following ways: (1) The IRS must release a tax lien if the IRS determines that the tax liability has been paid or is legally unenforceable. (2) The IRS has discretion to discharge specific property from a tax lien in… Read More

In most cases, the expenses of renting your property, such as maintenance, insurance, taxes, and interest, can be deducted from your rental income, Personal use of rental property. If you sometimes use your rental property for personal purposes, you must divide your expenses between rental and personal use. Also, your rental expense deductions may be… Read More

Updated 9/15/17 – Added counties of Alachua, Baker, Bradford, Columbia, Gilchrist, Levy, Nassau, Suwannee and Union. Updated 9/14/17 – Added counties of: Citrus, DeSoto, Glades, Hardee, Henry, Hernando, Highlands, Indian River, Lake, Marion, Martin, Okeechobee, Osceola, Seminole, Sumter and Volusia. Updated 9/13/17 – Added counties of Brevard, Orange, Pasco, Polk and St. Lucie counties. See… Read More

Question: Can a husband and wife operate a business as a sole proprietorship or do they need to be a partnership? Answer: Unless a business meets the requirements listed below to be a qualified joint venture, a sole proprietorship must be solely owned by one spouse, and the other spouse can work in the business… Read More

I’m a sole proprietor and pay personal expenses out of my business bank account. Should I include the money used for personal expenses as part of my business income? Can I write these expenses off?   Answer: You would include the money used to pay personal expenses in your business income when your business earned… Read More