Posted on August 13, 2024
by
Joanie Stein
In July 2024, the IRS issued final regulations regarding the SECURE Act’s elimination of stretch IRAs for certain non-spouse beneficiaries. The announcement gives taxpayers and their advisors much-needed clarification on the law’s requirement that beneficiaries of inherited IRAs draw down those accounts and pay the related taxes within 10 years of an original owner’s death. […]
Posted on August 01, 2024
by
Brendan Kurpis
In this episode, associate tax director Brendan Kurpis explains electric vehicle tax credits and the common missteps.
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 […]
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 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 […]
Posted on June 27, 2024
by
Karen Lake
During July 2024, consumers in Florida can purchase recreation equipment, outdoor items and admissions to entertainment and cultural events within the state without paying state sales tax. The state’s legislature passed the annual Freedom Month Sales-Tax Holiday to help make it more affordable for families to enjoy all that the Sunshine State has to offer […]
Posted on June 20, 2024
On this episode Associate Director of Tax Services Jonathan Menna shares the latest tips and traps for cryptocurrency investors.
