|
Client Spotlight
| 
Visit Our Website |
|
Tax Freedom Day
 "Tax Freedom Day" fell on April 12 this year, three days later than in 2010. According to the Tax Foundation, all the money earned by taxpayers in the first 102 days of 2011 will go to pay their federal, state, and local taxes. After that, the money they earn belongs to them! However, if the gov- ernment were to col- lect enough taxes to fund all spending for 2011 (with no deficit), Tax Freedom Day would require 41 more days of work to provide the additional $1.48 trillion in revenue needed. |
|
IRS Raises Tax Lein Threshold
 The IRS recently an- nounced that it will adjust its use of tax liens to collect back taxes.
This change means the IRS won't use a tax lien unless at least $10,000 in back taxes is owed; the previous threshold was $5,000. In addition, the IRS says it will "withdraw" more tax liens once the back taxes have been paid. To find out more, read our blog. |
|
|
Greetings!
Historian James Truslow Adams popularized the phrase "American Dream" in his 1931 book Epic of America: "The American Dream is that dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to ability or achievement. It is not a dream of motor cars and high wages merely, but a dream of social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position."
This Memorial Day, Wrobel Accounting is grateful to be free to choose our own occupation, run our own business, and live the American Dream. At Wrobel Accounting, we honor the sacrifices made by the men and women who have served our country to protect and earn our freedom.
Don't forget to set aside some time in your busy summer agenda for a little tax planning! A midyear tax review is a great way to save tax dollars and time down the road. To schedule an appointment to assess your 2011 tax situation, give us a call at (813) 514-8273, or click here to request an appointment online.
Also, June 15th is the due date for making your second installment of 2011 individual estimated tax. Your check to the United States Treasury should be accompanied by Form 1040-ES. June 15th is also the due date for calendar-year corporations to make their second quarter 2011 estimated tax payment.
Enjoy this month's issue of The Bottom Line, and have a wonderful Memorial Day weekend!
|
|
Tax breaks help when disaster strikes 
Hurricane season is nearly upon us, and recent events here and abroad are reminders that disasters can occur at any time - often with staggering human and financial costs. If you're an unlucky victim of a disaster, you may receive help from insurance and federal disaster aid. But the tax code also offers some relief. You may be able to take an itemized deduction for part of your loss. In tax terms, it's a "casualty loss," and it can also apply to events such as a car crash, a house fire, or theft. Click here to learn more. |
Tax tips for your vacation home
 Planning to rent out your vacation getaway? When it comes to taking advantage of the tax benefits, timing is an important factor. There are two points to remember. Click here to learn more.
|
|
|
Disclaimer
This newsletter provides business, financial, and tax information to clients and friends of our firm. This general information should not be acted upon without first determining its application to your specific situation. For further details on any article, please contact us at (813) 514-8273.
|
|
|
|
|
|
