April 2024

LAST REMINDER: FILING DEADLINE FOR YOUR COMPANY‚ÄôS 2024ANNUAL REPORT IS MAY 1st There are only a few weeks left before the May 1st deadline for Florida companies to file their corporate Annual Report with the State of Florida. If you miss the May 1st deadline, the state will add a mandatory penalty of $400 in […]

March 2024

FLORIDA REEMPLOYMENT TAX RATES FOR 2024 NOW AVAILABLE With a few exceptions, Florida employers are required to pay a state reemployment tax (also called unemployment tax) on the wages paid to its employees. Reemployment tax is paid quarterly to the Florida Department of Revenue by filing a form RT-6 (Employers Quarterly Report). Your business should […]

February 2024

LOANS AVAILABLE FOR FLORIDA BUSINESSES IMPACTED BY SEVERE WEATHER IN BAY AND JACKSON COUNTIES Businesses in Bay and Jackson counties, including sole proprietors, impacted by the severe weather at the beginning of January can apply for assistance from the Florida Small Business Emergency Bridge Loan program. This program provides short-term, no-interest loans of up to […]

January 2024

BUSINESS MILEAGE RATE FOR 2024 The standard mileage rate set by the Internal Revenue Service is 67 cents per mile for 2024, an increase of 1.5 cents from the 2023 rate. The business mileage rate is used by taxpayers claiming a mileage deduction for a vehicle they own or lease. Businesses also use this rate […]

December 2023

REMINDER: W-2s and 1099s MUST BE FILED ELECTRONICALLY IN 2024 Each January, businesses are required to file certain tax forms for each of their employees and for each independent contractor the business paid at least $600 to during the year. One copy of the form is given to the employee/independent contractor, and one copy is filed […]

November 2023

TAX ON COMMERCIAL RENT WILL DECREASE IN DECEMBER 2023 In Florida, sales tax is charged on the rental of commercial property. Businesses that rent office space, retail space, or warehouses are required to pay sales tax on the amount of their lease. The amount of tax charged is the state sales tax rate of 5.5% […]

October 2023

NEW EMPLOYMENT ELIGIBILITY I-9 FORM REQUIRED BY NOVEMBER 1ST All employers in the United States are required by federal law to fill out an I-9 Form on newly hired employees to verify that the employee is legally eligible to work in the United States.  The employee must attest to their employment eligibility by completing Section […]

September 2023

FLORIDA MINIMUM WAGE WILL BE $12.00 AN HOUR STARTING SEPTEMBER 30TH Under an amendment to the Florida Constitution that was approved by voters in 2020, the Florida minimum wage increases by a dollar each September 30th until the minimum wage reaches $15 an hour in 2026. Effective September 30, 2023, the Florida minimum wage is […]

August 2023

WORK LIMITATIONS FOR TEENS DURING THE SCHOOL YEAR If your business has employees under the age of 18 who will keep working for you during the school year, you need to know the rules on how much they can work once school starts.  Work restrictions for 14 and 15-year-olds during the school year: Work restrictions […]

July 2023

REMINDER: FLORIDA BUSINESSES WITH 25 OR MORE EMPLOYEES MUST NOW USE E-VERIFY FOR NEW HIRES Starting July 1st, Florida businesses with 25 or more employees are required to verify that new employees are eligible to work in the United States by using the federal E-verify system at  New employees hired on or after July […]