Posted on July 30, 2024
by
Karen Lake
As the new school year approaches, the Florida legislature has approved a two-week Back-to-School Sales-Tax Holiday. Between July 29 through August 11, 2024, families can purchase the following essential supplies free of state and local sales tax: Personal computers, laptops, tablets, e-readers and related accessories (i.e., keyboards, monitors, non-recreational software, etc.) selling for $1,500 or […]
Businesses and their employees are constantly bombarded by a rising threat of email and text scams that have resulted in millions of dollars in security breaches, lost data, stolen money, interruption to normal business operations and longer-term reputational damage. While businesses should bolster their defenses with a range of cybersecurity hardware and software solutions, they […]
Posted on July 22, 2024
by
Deana Love
With proper estate planning, people typically execute a series of documents naming their family members or friends to make medical or financial decisions on their behalf when they are unable to do so themselves. Children need similar protections when they age out of being minors and take on adult responsibilities. Under most state laws, the […]
Posted on July 19, 2024
by
John Ebenger
There are many different types of participants in the real estate market and an equally diverse set of rules for how each may treat profits and losses from property sales. For example, real estate investors may claim the tax deferral benefits of a 1031 exchange, but these benefits and rules generally do not apply to […]
Posted on July 18, 2024
by
Karen Lake
In this episode Director of Tax Services Karen Lake shares details about Florida’s upcoming sales tax holidays.
A recent decision by the U.S. Court of Federal Claims may open the door to a potential deluge of requests for tax refunds from U.S. citizens and resident aliens living or working in foreign countries with which the U.S. has an income tax treaty. In Christensen v. United States, the court interpreted the U.S.-France Income […]
For more than a century, Section 1031 of the U.S. tax code has carved out a unique opportunity for qualifying individuals and businesses to defer federal capital gains tax on the sale of highly appreciated real estate held for investment or business use when they reinvest the sales proceeds into a similar, like-kind property. These […]
Posted on July 10, 2024
by
Shanna Shim
Small and midsize businesses generally have two options for maintaining their financial books and records: the cash and accrual methods of accounting. While each approach offers businesses unique benefits at different stages of their life cycles, business owners must recognize when they should transition from one method of financial accounting to the other. The cash […]
Posted on July 09, 2024
by
Karen Lake
Florida’s Department of Revenue (DOR) is offering qualifying businesses a tax credit against their state corporate income and franchise in tax years 2024, 2024 and 2026 when they hire qualifying employees with physical or intellectual impairments. The maximum tax credit available to qualifying businesses is $10,000 per year. Florida’s Individuals with Unique Abilities Tax Credit […]
Phishing scams and business email compromises (BECs) continue to make headlines, holding the titles as the most common cybersecurity breach method and the most frequently reported crimes to the FBI’s Internet Crime Complaint Center (IC3). Yet, even as businesses step up efforts to help employees learn to recognize the warning signs of these attacks, criminals […]
