September 25, 2012

Overview Of The 5 Tax Amendments On The 2012 Florida Ballot

Included among the eleven measures which are set to appear on the November 6 ballot are five that will give Florida voters the opportunity to put […]
September 17, 2012

Transfer Of Business Assets In Florida May Come With State Tax Liability

A recently enacted Florida statute clarifies that the transfer of a Florida business’s assets is considered a sale of the business and that the sale may […]
December 23, 2011

New Form 1099 Rules For 2012

The IRS will implement new rules in 2012 that will likely affect most businesses.  Changes have been made to the reporting rules for IRS form 1099, the […]
November 29, 2011

End Of The Year Tax Planning – Set Up A Small Business Retirement Plan

Many small-business owners believe that their company will provide all that is necessary for a comfortable retirement.  As their golden years approach, they eagerly anticipate selling […]
November 11, 2011

Florida Employers Could See Major Unemployment Tax Hike

If the Florida legislature fails to act soon, Florida business owners could see a significant increase in their unemployment tax bill.  Business owners will see their […]
October 24, 2011

IRS To Require Accounting Software Data Files

The IRS has recently announced its intent to seek data records maintained by small businesses that utilize accounting software programs, such as QuickBooks or Peachtree, when […]
October 5, 2011

IRS Rules Against Medical Marijuana Dispensaries

The IRS has ruled that dispensaries of medicinal marijuana cannot deduct standard business expenses such as payroll, security, or rent.  In a ruling against Harborside Health […]
September 27, 2011

IRS Launches Voluntary Compliance Settlement Program In An Effort To Resolve Past Worker Classification Issues

The IRS has recently announced the launch of its new Voluntary Compliance Settlement Program (VCSP); an effort to enable employers to resolve past worker classification issues by […]
September 15, 2011

IRS Issues Guidance On Employer Provided Cell Phones

The IRS has recently issued Notice 2011-72 which provides guidance on the tax treatment of cell phones that employers provide to their employees primarily for business purposes.   Section […]
September 14, 2011

Florida Documentary Stamp Tax And Transfers To LLCs

In Florida, documentary stamp tax is generally levied at the rate of $.70 per $100 (or portion thereof) on documents that transfer an interest in real […]
September 12, 2011

Sale Of A Single Member LLC Presents Special Issues For Buyer And Seller

Generally, unless a single-member LLC elects to be treated as a corporation it will be considered a disregarded entity under the IRS check-the-box regulations. Since the […]
July 21, 2011

IRS Moves Forward With Fresh Start Initiative

Earlier this year, the IRS announced their fresh start initiative, which has been billed as their latest attempt to help struggling taxpayers. These new policies and […]