Taxes | Tampa Bay Homes for Sale | RE/MAX ACR Elite Group, Inc.

Tax Deductions for Tampa Bay Homeowners (Part 2)

As a homeowner, you could be entitled to a number of tax deductions that renters don’t qualify for—but you may not even know what they are. In this three-part series, we’re exploring the most common (and not-so-common) homeowner tax deductions available. Part one, which deals with the most common deductions, is located here: Common Tax Deductions for Tampa Bay Homeowners. This isn’t tax advice. We’re not tax professionals; we’re Realtors®. If you have questions about your taxes as a … Continue reading...

Extra Factors That Affect The Value Of A Home

Many people are unsure exactly how a house’s value is calculated and are surprised when they learn the value of their own or the price of a house they are considering purchasing. Although the square footage or a home and the quality of the home are important factors, many other factors may be more influential. Location is likely the biggest factor that contributes to the value of a home. Houses that are in areas with low crime, good schools, close to medical facilities and shopping are … Continue reading...

What Kind Of Expenses Can You Claim With The Federal Solar Tax Credit

Did you know that the federal solar tax credit is now available for a few more years? As mentioned in the last blog post about the best Tampa Bay area solar panel suppliers, if you install solar panels to your home in 2019, you will still be able to claim a 30 percent tax credit. That's a credit ... not a deduction. So, it's a significant amount of money to offset your solar power project costs. After 2019, the credit reduces in percentage each year. When you're having your solar panels … Continue reading...

Get Tax Credits For Your Donations With The Florida Tax Credit Scholarship Program

Have you heard of the Florida Tax Credit Scholarship Program and how you can be a part of funding it and earn tax credits? It's a new program that lets taxpayers get dollar-for-dollar credit against specific Florida taxes if they make donations to eligible nonprofit scholarship-funding organizations. Florida Tax Credit Scholarship Program In order to receive a dollar-for-dollar credits against the following Florida taxes, tax payers must contribute to specific organizations that fund … Continue reading...

Get Florida Sales Tax Credit For Scholarship Fund Contributions

Do you own a business? Maybe you own dog grooming studio, are an accountant, or run a tattoo shop. It doesn't matter. If you pay rent for your commercial space, we have cool news for you! Did you know that a new program went into effect on July 1, 2018 letting tenants of commercial rental properties apply for an allocation under the new Florida Sales Tax Credit Scholarship Program? Through this program, tenants can get a credit against their Florida sales tax obligations for rent or license fee … Continue reading...

Vote: Humane Society of Tampa Bay’s 2019 Pet Calendar Contest

Don't miss out on your chance to vote for your favorite pets in the Humane Society of Tampa Bay's 2019 Pet Calendar Contest! You can cast your vote online here. The 4th Annual Pet Photo Calendar Contest is put on to raise money for the needy pets in the area. To enter the contest, contestants' caregivers make a $10 donation and then submit the entry. By entering and voting in the contest, you'll be supporting the animals in our community. The top pet pin-ups will appear in the 2019 pet … Continue reading...

Should You Try To Sell Your Tampa Bay Home ‘For Sale By Owner’?

Should you try to sell your home "For Sale By Owner" is the question of the day. We do understand the pull. The typical estimate from real estate agents' fees and closing costs around the country can reach as high as 10 percent sometimes. Around half of that is agents fees. So, we can understand the allure, but the money saved is almost never worth it. Not even financially. To sell your home "For Sale By Owner" you'll need to spend every evening and weekend working on it. Typically sellers … Continue reading...

Lack Of Income Tax In Florida: A Great Incentive To Move Here

Florida residents luck out in the tax department. Recently, we mentioned that Florida rescinded virtually all of the Florida intangibles tax. That's great news for people interested in retiring in sunny Florida. The bulk of Florida's low tax burden though? Florida doesn't tax income. Florida's one of seven states in the U.S. that lacks an income tax. Actually, the state's constitution prohibits income tax. Obviously, Floridians can't escape the federal income tax, but as for state income tax, … Continue reading...

Where To Get Florida Forms DR-312 and DR-313 To Show No Estate Tax Liability

Did you know that no Florida estate tax is due if the person died on or after January 1, 2005? Seriously. For estates of Decedents who died on or after January 1, 2005, a federal change eliminated the Florida estate tax. To prove evidence of no liability for Florida estate tax and remove the estate tax lien, representatives must fill out either Florida Forms DR-312 or Dr-313. They're very simple forms. If the estate is not required to IRS Form 706 or Form 706-NA, then the personal … Continue reading...

What Is Florida’s Truth in Millage (TRIM) Act?

In 1980, Florida lawmakers passed the Truth in Millage (TRIM) Act. The point of is? To inform taxpayers which governmental entity levied their taxes and how much they owe to each taxing authority. So, in Florida, the local property appraisers send this information to the property owner. This documentation is known as a TRIM notice. Florida's Truth in Millage Act established many requirements that all taxing authorities in the state must follow. TRIM requirements also specify the maximum … Continue reading...