Posted on August 15, 2019 by
Angie Adames
The IRS has issued new regulations permitting taxpayers to change the bonus depreciation treatment of certain property acquired after Sept. 27, 2017, and placed in service during a tax year that includes Sept. 28, 2017. The Tax Cuts and Jobs Act (TCJA) that went into effect on Jan. 1, 2018, made several changes to bonus depreciation, such […]
Posted on June 19, 2019 by
Karen Lake
The Florida legislature recently passed a $91.1 billion budget for 2019 that provides some significant wins for individuals and business taxpayers located in the state while failing to address the remote and online sales tax collection issue created by the Supreme Court’s June 2018 decision in South Dakota v. Wayfair. Here are the details. Reduced […]
Posted on January 15, 2019 by
Karen Lake
Effective Jan. 1, 2019, Florida’s sales tax rate on the total rent that commercial real estate owners charge and receive from tenants is 5.7 percent, a decrease from 5.8 percent in 2018, and 6.0 percent in 2017. Real property rentals subject to the reduced rate include commercial office space, retail, warehouses and certain self-storage units, excluding storage […]
Posted on December 17, 2018 by
Barry Brant
The permanent reduction of the corporate income tax rate from a maximum of 35 percent to a flat 21 percent has led many businesses to reevaluate their current tax positions and reconsider their entity choice. The decision to convert from a pass-through entity to a C corporation, however, should not be based solely on how […]
Posted on December 10, 2018 by
Joanie Stein
Families with children preparing to attend college for the 2019-2020 academic year may have an easier time applying for loans, grants and scholarships from federal and state sources thanks to a redesigned Free Application for Federal Student Aid (FAFSA) website and the introduction of a new mobile app called MyStudentAid, which is available for Apple and […]
The rehabilitation tax credit that provides an incentive for real estate owners to renovate and restore old or historic buildings has been modified under the Tax Cuts and Jobs Act (TCJA) signed into law in December 2017. Under the new law, taxpayers claiming a 20 percent credit for the qualifying costs they incur to substantially […]
