13 Deductions That Could Cut Your Tax Bill

It's still tax time. Already filed? Remember these tips for next year.

This content is provided courtesy of USAA For all the talk about tax changes at the end of 2012, many people are still left wondering what it means for them. "'Is it a big deal? Or is it business as usual?' are questions I'm hearing," says Scott Halliwell, CERTIFIED FINANCIAL PLANNER™ practitioner with USAA. "While many issues were resolved, a lot of taxpayers still aren't sure how their tax returns and deductions are affected," he says. If you're one of those people, brush up on these 13 deductions before tackling your tax return. They are worth reviewing, as they could lower your tax bill. 1. Traditional IRA contributions. You have until April 15, 2013, to contribute up to $5,000 to a traditional IRA for 2012 and, if you qualify, deduct …

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IRS Announces 2013 Tax Rates and Deductions

It's tax time again! Standard deductions will increase, but the ceiling for itemized deductions decrease in 2013, plus other changes that will affect your taxes this year.

On Friday, the Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012.  The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation-adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service Keep up with news by subscribing to our free email newsletter, liking us on Facebook and following us on Twitter.

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Marietta Man Pleads Guilty to Filing False Claims for Income Tax Refunds

A Marietta man pleaded guilty Wednesday in federal court to charges arising out of a scheme to defraud the IRS out of more than $3.4 million in federal income tax refunds while he was in state custody.

Arnold Tobias Gervais, 34, of Marietta, pleaded guilty Wednesday in federal court to charges arising out of a scheme to defraud the IRS out of more than $3.4 million in federal income tax refunds while he was in state custody, according to a press release from United States Attorney Sally Quillian Yates, Northern District of Georgia. “Those who cheat the IRS take money away from everyone who pays his or her fair share of taxes," Yates said in the release. "The United States Attorney’s Office and the IRS are on the lookout for tax cheats and will aggressively pursue those individuals who try to beat the system.” “One of the many ways that IRS Criminal Investigation protects taxpayer money involves identifying, investigating and prosecuting …

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Tax Incentive Zone Expanded for Businesses Choosing Marietta

The state of Georgia has expanded one of Marietta's opportunity zones to encourage new businesses to locate in the city or existing businesses to expand.

by city of Marietta The state of Georgia has expanded one of Marietta's opportunity zones to encourage new businesses to locate in the city or existing businesses to expand. When two or more jobs are created, businesses may be eligible to receive $3,500 in state income tax credits for each new job for five years. Marietta's expanded opportunity zone is bounded by Cobb Parkway to the west, Delk Road to the north, Interstate 75 to the east and Terrell Mill Road to the south, and joins the city's other opportunity zones which include portions of Fairground Street, Roswell Street, Powder Springs Street, the South Loop, Franklin Road, and industrial and heavy commercial locations throughout Marietta. "Marietta is doing everything we can to help…

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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, according to a Gwinnett County newsletter. Instead, there will be a new title tax of 6.5 percent in 2013 -- only due each time the vehicle is sold and titled. It applies to dealer sales as well as sales between individuals.You'll pay this tax in the county where you register the vehicle. -- Will the new Georgia tax affect your decision to purchase a new vehicle? Use the comments box below to respond. However, you will continue to pay the annual ad valorem tax on vehicle(s) that you currently own. …

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Anonymous Tip Line to Help Report Property Tax Violations

The Cobb Tax Commissioner's Office Tipster Program allows taxpayers to report possible violations completely anonymously.

Cobb Tax Commissioner's Office staff announced the new Tipster Program created to maximize collection of taxes. The program allows taxpayers to report possible violations completely anonymously. Examples include vehicles with out-of-state tags in your neighborhood or rental property or vacant homes claiming homestead exemptions. People can visit cobbtax.org and click on the "Cobb County Tipster Program" logo to complete an online report. Residents may also call the helpline at 770-528-8247 and speak with an operator to report suspected violations. Keep up with news by subscribing to our free email newsletter, liking us on Facebook and following us on Twitter.

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Property Taxes Due by Oct. 15

Tax bills are mailed on Aug. 15 and payment must be received or U.S. postmarked by Oct. 15 to avoid late charges.

Tax bills are mailed on Aug. 15 and payment must be received or U.S. postmarked by Oct. 15 to avoid late charges. A metered postmark is not accepted as proof of timely mailing. Checks should be made payable to Cobb County Tax Commissioner and payments mailed to:
P.O. Box 100127
Marietta GA 30061-7027 Allow adequate scheduling and processing time when using a third party online bill-pay system. You can view, print and pay your tax bill at cobbtax.org. Keep up with news by subscribing to our free email newsletter, liking us on Facebook and following us on Twitter.

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Back to School Sales Tax Holiday Aug. 10

See what items are tax-exempt during the holiday.

The Georgia Department of Revenue wants to help students get school ready with a Back to School Sales Tax Holiday. According to the Georgia Retail Association, this year’s holiday begins Friday, Aug. 10 at 12:01 a.m. and ends the following day at midnight. During the August 10-11 sales tax holiday, the following items will be exempt: The exemption does not apply to: Keep up with all the news you care about by subscribing to our free email newsletter, liking us on Facebook and following us on Twitter.

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Congress is Considering Bill to Impose Sales Tax on Online Purchases

Will this change your purchasing habits?

As everyone debates the great partisan divide in the federal government, there is some bipartisan legislation moving along in Congress without too much opposition from either side of the divide. If passed, the bill being considered would result in about 5 to 10 percent sales tax levied on purchases made over the Internet. While this would level the playing field for businesses with a presence outside the virtual storefront, it would be a hardship for the U.S. consumers who, according to a recent story on CBS News, spent more than $200 billion in online sales last year. A reported 53 percent of Americans shop online, spending an average of $1,200 a piece. This is expected to rise to 58 percent by 2016 with an average expenditure of about $1…

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On the Agenda

Marietta City Schools BOE Sets Millage Rate

The overall millage rate is not increasing and City of Marietta taxpayers will see no change in their property tax from last year.

The Board of Education of the City of Marietta will hold a special called meeting Tuesday, July 24 at 6:30 p.m. to set the school district millage rate (property tax rate) at 19.157 mills, a rate that maintains the current millage of 17.97 flat for the thirteenth consecutive year. The new millage includes a reclassified millage of 1.187 of School Bond Debt as part of the property tax rate effective Fiscal Year 2013 (FY13).  The overall millage rate is not increasing and City of Marietta taxpayers will see no change in their property tax from last year, according to Thomas Algarin, Director of Communication & Information at Marietta City Schools. On March 6, Marietta taxpayers authorized the school district to incur debt in order to …

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