Florida workers’ comp rates will decrease for an average of -6.9% for calendar year 2026 under a proposal made last week by NCCI, the organization responsible for recommending rates to the state. If approved by the Florida Office of Insurance Regulation, the new rates will apply to all Florida workers’ comp policies as they are […]
BE ALERT FOR FICTITIOUS NAME RENEWAL EMAILS If your business has a “doing business as” name (also called a fictitious name) registered with the State of Florida’s Division of Corporations, the name must be renewed every 5 years. The state charges $50 for every 5-year renewal. Please be alert for emails from private companies with […]
NEW FEDERAL LAW ON TIPS AND OVERTIME House Resolution 1 is a new federal law that gives employees who receive tips or overtime pay a temporary tax break on their federal income taxes. The tax break is temporary and does not apply to all tips or all overtime pay. The new law also imposes new […]
PAYROLL TAX RESPONSIBILITIES FOR EMPLOYERS This is a brief summary from the Internal Revenue Service (IRS) of an employer’s basic responsibilities regarding withholding, depositing, and reporting employment taxes.When you Hire a New Employee: For All Employees Each Payday: Every Quarter: Every Year: For more information, please consult IRS Publication 15 (Circular E), also called “Employer’s […]
BE WARY OF EMAILS ABOUT FILING A BOI REPORT – BOI IS NO LONGER REQUIRED The Beneficial Ownership Information report (BOI), which was a new report required for small businesses nationwide, was officially abolished on March 21, 2025 by the United States Treasury Department. The report is now required only for foreign businesses. Even though […]
IT’S OVER! BOI FILING REQUIREMENT OFFICIALLY DEAD On March 21, 2025, the United States Treasury Department announced that the Beneficial Ownership Information (BOI) report filing requirement has been abolished. Small businesses will no longer have to file a BOI report, and this time the decision is final. This is a huge relief for small businesses […]
BREAKING NEWS: BOI REPORT REQUIREMENT OFFICIALLY TERMINATED As of March 2, 2025 small businesses are no longer required to file a Beneficial Ownership Information (BOI) report. This announcement comes after several months of the BOI report being on-again-off-again so much that it was difficult for everyone to keep up with its status. Just last week, the BOI filing […]
BOI FILING STILL ON HOLD AS OF FEBRUARY 3RD As of the date this newsletter was written, the requirement for businesses to file a Beneficial Ownership Information (BOI) report remains on hold. In December, the filing requirement was suspended and then briefly reinstated; it has remained on hold since December 26, 2024. At this time, […]
BOI FILING REQUIREMENT IS ON HOLD — FOR NOW. As of the date this newsletter went to press (January 3, 2025), the requirement for businesses to file a Beneficial Ownership Information (BOI) report is on hold. The filing requirement was suspended in early December then reinstated the Monday before Christmas with a new deadline of […]
A federal judge in Texas has suspended the requirement for small businesses to file a Beneficial Ownership Information report (BOI) by January 1, 2025. At this time, businesses are no longer required to file a BOI report. Until the situation changes, businesses choosing not to file their BOI report will not be penalized. FinCEN’s BOI filing portal is […]