Law Offices of John A. Herrera

10/03/2022

Tax saving opportunities for victims of Hurricane Ian

Tax advisors are already working hard to determine how the IRS disaster relief announcements and Internal Revenue Code will impact disaster victims, and those who reside in disaster areas. While the first thoughts of many are to be able to deduct losses and home remodeling, and to be able to extend.

09/30/2022

Hurricane Ian federal tax relief has been granted to all Florida taxpayers.

The IRS on September 29 announced that it is granting disaster relief to victims of Hurricane Ian.

09/13/2022

Pretty good article explaining prenuptial agreements and why they aren't only needed by the wealthy

While parties with significant assets or a significant disparity between the parties’ financial circumstances would benefit from a prenuptial agreement, so would those with few assets. (10 minutes to read ∙ 2200 words)

02/18/2021

Failing to plan is planning to fail.

The estate planning failures of these celebrities can help you teach important lessons to your clients. (4 minutes to read · 1000 words)

08/20/2020

And you thought that you were behind on your correspondence . . .

House Ways and Means Chair Richard Neal wants the IRS to quit sending balance due notices for now.

04/21/2020

Emergency Order 041320 Extends Expiring Driver Licenses and State ID Cards:

Under the direction of Governor Ron DeSantis, Emergency Order 041320 has been executed by the Florida Department of Highway Safety and Motor Vehicles Executive Director Terry L. Rhodes.

• 60 Day Extension: All Florida driver licenses and identification cards set to expire between March 16, 2020, and April 15, 2020 will be granted a 60-day extension beyond their current expiration date.

• 30 Day Extension: All Florida driver licenses and identification cards set to expire between April 16, 2020, and April 30, 2020 will be granted a 30-day extension beyond their current expiration date.

This executive order does not remove any stops or holds on a driver license.

REAL ID Deadline Extended to Oct. 1, 2021:

If you do not yet have your REAL ID driver license or state ID card, the Department of Homeland Security extended the REAL ID deadline by 12 months. The new deadline is Oct. 1, 2021.

04/13/2020

If you aren't required to file 2018 and 2019 federal income tax returns but you still want to receive your $1,200 coronavirus Economic Impact Payment, you must give the IRS you payment information so that they can send you your payment. Here's your link:

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

03/17/2020

Coronavirus tax relief just announced by the Secretary of the Treasury. Details yet to come.

Treasury Secretary Steven Mnuchin on Tuesday said that individuals will be able to defer up to $1 million in tax payments to the IRS for 90 days in light of the coronavirus outbreak.

01/30/2019

Ever wonder what your chances of getting audited by the IRS are? In my experience, the best way to prevent getting audited is to file a complete and proper tax return that doesn't trigger scrutiny and an audit. Even if your audit results in no additional tax being owed, you will probably incur professional fees if you are represented by an attorney or CPA. As in most things in life, an ounce of prevention is worth a pound of cure.

IRS data provides all the information needed to figure out the answer.

05/31/2018

I am a Florida board certified tax attorney and certified public accountant whose legal practice since 1993 has concentrated on tax and estate planning for wealthy individuals and their corporations, partnerships and trusts. An emphasis is placed upon achieving asset protection and overall income, estate and gift tax minimization while also achieving the client's personal objectives.

05/31/2018

During the 2018 Florida Disaster Preparedness Sales Tax Holiday June 1 through June 7, stock up on qualifying disaster preparedness supplies exempt from tax. For more information and a list of qualifying items, visit floridarevenue.com/disasterprep.