Tax Deadline Day is Monday - Are You Ready?

The Internal Revenue Service says taxpayers who need more time to file shouldn't panic. Some Dacula tax preparers might be able to help.

Can't file your tax returns by the Monday, April 15, deadline? Extensions are available.  Those who haven't finished completing their returns can get an automatic six-month extension. The fastest and easiest way to get the extra time, the IRS says, is through this Free File link — use the free service to electronically request an automatic tax-filing extension on Form 4868. Filing this form gives taxpayers until Oct. 15 to file a return and allows individuals to avoid a late-filing penalty. To get the extension, you must estimate your tax liability and also pay any amount due. Can't pay the full amount you owe the government? Click here to find out about setting up payments.  If you need professional help, here are some Dacula-based tax …

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April 9 is 'Tax Freedom Day' in Georgia

According to the Tax Foundation, the day comes a little earlier in Georgia than for Americans overall.

Title Tax Appeals Expected to Cost Gwinnett Taxpayers $175,000

The company that will handle the appeals, LMC Inc, will be paid $38 for every case handled.

Georgia's new "title tax" law, which went into effect March 1, is creating an unexpected expense for Gwinnett County taxpayers. The county is expecting an increase in the number of appeals by car buyers seeking a reduction in the value of their newly purchased automobile. Car buyers purchasing a vehicle beginning the first day of March must pay a title tax of 6.5 percent of the value of the vehicle. This new tax replaces the annual ad valorem tax for cars purchased after this date. The new title tax is assessed on any vehicle, new or used. According to an AJC report, Gwinnett Chief Appraiser Steve Pruitt said he expects a substantial increase in the number of appeals. Pruitt said his office generally sees some 100 to 120 appeals annually, …

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Missed Deductions, Failing to Tell Tax Preparer About Life Changes Among Top 10 Tax Mistakes

A CPA shares the most common tax mistakes.

Looking for tax professionals in Dacula? Click here to see Dacula Patch directory listings for businesses offering financial services.  DailyFinance has asked Certified Public Accountant Gary Craig to outline some of the most common tax mistakes to help taxpayers avoid making them.  Click here to read the full story, and here's an overview of the mistakes you could be making:  Which Dacula tax professional do you visit? Rate or review the following local financial services providers:

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New Georgia Vehicle 'Title Tax' Takes Effect in March 2013

HB 386 replaces the annual ad valorem tax on newly purchased vehicles.

The so-called "birthday tax" that Georgia vehicle owners pay will end in March 2013—for people who purchase a new vehicle. Effective March 1, 2013, House Bill 386 removes the sales tax and the annual ad valorem tax on newly purchased vehicles. Instead, there will be a new title tax of 6.5 percent of the fair market value, as identified by the Georgia Motor Vehicle Assessment Manual, in 2013—only due each time the vehicle is sold and titled. It applies to dealer sales as well as sales between individuals, but excludes non-titled vehicles, such as trailers and other non-motorized vehicles, which will remain subject to ad valorem tax. You'll pay this tax in the county where you register the vehicle. However, you will continue to pay the …

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Protect Your Tax Information From Scammers

Thieves are stealing year-end statements, W-2s and other income information to file fraudulent returns.

DailyFinance.com calls tax identity fraud a "specialized and sophisticated form of theft."  According to a post on the site, thieves are stealing year-end statements, W-2s and other income information to file returns on victims' behalf. The report says that during the 2011 tax processing year, roughly 940,000 tax returns were filed fraudulently, and this year, that number will likely increase to 1 million.  How do you protect yourself? First, shred any paperwork you don't need for tax preparation. Second, be wary of a slow-running computer or out-of-place pop-ups when filing taxes online. Also, be suspicious of any phone calls or e-mails claiming to be from the IRS, even with the appropriate logos. According to the IRS website: "The IRS …

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Should Non-Tax Fees Be Removed From Property Tax Bills?

House Bill 159 would limit what type of fees municipalities could add to residents' property tax bills.

A bill introduced in the Georgia General Assembly last week by state Rep. Brett Harrell would prohibit municipalities from adding non-tax fees to property tax bills. Harrell initially introduced the bill in 2011 with nearly 60 co-signers. “Too often citizens across Georgia experience increased property tax bills, higher monthly mortgage payments, and, in some cases, liens against their property, all resulting from the addition of non-tax fees added to their property tax bills,” Harrell said. “The type and number of fees continues to increase each year. This legislation will help ease the burden on Georgia households and increase government transparency.” Harrell said House Bill 159 addresses a growing concern among property owners …

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Gwinnett Tech Offering Free Income Tax Preparation in 2013

With help from AARP, free tax counseling also will be offered beginning February 1.

Want to get your taxes done for free? Gwinnett Technical College in Lawrenceville may be able to help. Beginning Friday, Febuary 1, 2013, the Lawrenceville school and AARP are teaming to offer free tax preparation, e-filing, and tax assistance, according to a news release. Appointments are not necessary, and the offer is open to everyone, not just AARP members, according to the release. The offer goes through April 16. Participants are asked to bring their 2011 income tax return, proper identification and all necessary documents for this tax year. Also, e-filing will be available. Gwinnett Tech is located at 5150 Sugarloaf Parkway, Lawrenceville 30043. For more information on the free tax prep offer, call 770-962-7580.

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Tips for Preparing Your 2013 Federal Income Taxes

April 15 will be here before you know it.

By Greg Roberts Despite the kerfuffle over the possibility of another fiscal cliff and increased income and other taxes, it is only natural to feel some unease over what may transpire in the next few weeks. But we must focus on the taxes that we will owe for 2013. Your preparation for April 15th doesn’t have to be as painful as it may have been in years past, particularly if you remember a few important tips. First, don’t think that just because you didn’t receive a 1099 from another person or entity you did not have taxable income. Remember Tom Daschle, the former Senator from South Dakota and Senate Majority Leader, who had to withdraw his nomination as Obama’s health czar? Daschle “forgot” to include $340,000 in income because he had …

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