Income Tax Lawyers in Boca Raton, Florida

Find the right Income Tax attorney in Boca Raton, FL

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In Boca Raton, Florida, an income tax is imposed on a certain percentage of the income of all individuals and businesses. Generally, income from all sources may be taxed. The federal government has had the constitutional authority to impose an income tax since 1916, since the passage of the 16th Amendment. Before then, states could, and still can, impose whatever income tax they like, including in Florida.

While the federal government levies an income tax against every person and corporation in the U.S., the income taxes imposed by the states vary widely. Some states have fairly high income taxes, and a few have none at all. You should consult with a Boca Raton, Florida tax Lawyer if you don't know what type of tax system your state has.

Income Tax Deductions in Boca Raton, Florida

A tax deduction is a reduction in the portion of a person's income that is taxable, resulting in a reduced tax liability. For example, suppose your income tax rate is 10%, and you had ,000 in income last year. If you received a ,000 tax deduction, your taxable income would be ,000, and you would have to pay 10% on that. So, it would lower your tax liability from to .

There is also something called a tax credit, which is treated as a partial payment of the income tax. A tax credit almost always results in a reduced tax bill than a reduction of the same amount.

Lots of expenses that are common in Boca Raton are tax deductible. Federal tax deductions include mortgage interest, union dues, interest paid on mortgages, and others.

How Can A Boca Raton, Florida Tax Attorney Help?

Income tax laws can get quite complex, particularly when large amounts of money from multiple sources are involved. It would not be a bad idea to call a Boca Raton, Florida tax Lawyer to avoid the consequences of under-paying, and to prevent you from over-paying.

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Life in Boca Raton

Boca Raton is located in the popular area of Palm Beach County, Florida. Approximately 200,00 people call Boca Raton home. Surrounding popular areas include West Palm Beach and Pompano Beach. What makes Boca Raton so wonderful to live in is the geography. It is seen as one of the best places to live in South Florida, because it is very metropolitan, a favorite of young, single professionals, and filled with high rises and beautiful living with water views.

Top employers in the area include The Continental Group, IBM, National Council on Compensation Insurance, Boca Raton Resort, Florida Atlantic University, and the city itself. Many top tier law firms are located around Boca Raton. Small to mid size law firms also have offices in or near Boca Raton. All in all, alongside the many industries listed as top employers, the legal industry also havea strong presence and significantly serves residents of Boca Raton.

Some famous residents of Boca Raton include Jeff Gordon, Keith Byars, Jon Bon Jovi, Ernst Borgnine, Jeanne Bice, Paul Newman, and Pete Rose.

All in all, Boca Raton is a paradise of a place to live in!