December 31, 2010 | Posted by Tony
New for this tax year, the IRS will no longer provide the “debt indicator” to electronic filing preparers. That is the thing where the IRS says it might hold back refunds to pay other debts owed, like child support or back taxes.
Because a rapid refund loan is from a bank, it is now too risky and no tax preparers, not even H & R Block, will offer it this year. So what is the fastest way to get your refund?
Electronic filing is of course still the best and fastest way to file your tax return and is what we do. However now instead of a rapid refund loan you can choose two other ways to get your refund fast.
The first way is to do a direct deposit to your bank account. This often takes about two weeks. The other way is by Western Union money card which again takes about two weeks.
These two ways are now the fastest way to get your tax refund, at least for this year. Hopefully next year they will change it back to the way they use to.
So call us or stop by and we can explain further on what this is and how you can get your tax refund the fastest way possible this year. Contact us today!
Categories: Tax Preparation | 
Tags: rapid refund loans, tax laws, tax refunds, tax returns | 
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September 27, 2010 | Posted by Tony
Filing taxes is never a pleasant event for most people, but one that is necessary. Most owner operators have a variety of different expenses they incur during the course of their business that they can deduct. Taking the time to do so means they end up paying less income taxes.
You will be able to depreciate the value of your truck over the course of several years. The amount you can take depends on the purchase price of the equipment. If you sell a truck or trailer during the year you should know that you will have to count that is income because you have already taken some of the depreciation on the equipment. You will also be able to deduct the interest you pay on your truck payments and trailer payments. You aren’t allowed to deduct the actual payments though, only the interest portion.
There are often tolls and fees for scales that truck drivers have to pay along their routes. These fees can be deducted as well. Make sure you keep track of what you pay for showers, truck parts, maintenance, and repairs. All of these items are deductible. You don’t need to keep your receipts for meals because the government gives you a per diem rate that you can claim. You need to make sure you keep track of the number of days you are out over the road though so you can figure the deduction.
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Categories: Tax Preparation | Tags: owner operator deductions, owner taxes, tax deductions | No Comments »
January 22, 2010 | Posted by Tony
Besides a full range of Orlando paralegal services, Metro West Professional services also does Orlando, Florida Tax preparation and E-filing. For over 10 years we have been helping people file their yearly income taxes. We do them all, from the simplest tax forms to self-employed, corporate and other types of tax filing.
We use electronic filing to the IRS. This means you can get your tax refunds within as little as 24 hours! We know all the different kinds of tax information, forms, rules, exemptions and more for the Orlando, Florida area. Contact us today and see how we can help you with your tax filing and rapid tax refunds!
Categories: Tax Preparation | Tags: e-filing, rapid refund, tax e-filing, tax filing, tax forms, taxes | No Comments »
