Alert

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 e-verify.gov.  New employees hired on or after July […]

June 2023

NEW IMMIGRATION REQUIREMENTS FOR FLORIDA EMPLOYERS Effective July 1, 2023, a new law recently approved by the Florida Legislature requires Florida businesses with 25 or more employees to use the E-verify system to verify that all new employees are eligible to work in the United States.  E-verify is a US government database that allows employers […]

May 2023

EMPLOYER PAYROLL TAX RESPONSIBILITIES This is a brief summary from the Internal Revenue Service (IRS) of an employer’s basic responsibilities regarding withholding, depositing, and reporting employment taxes. For New Employees: For All Employees Each Payday: Every Quarter: Every Year: For more information, please consult the IRS Publication 15 (Circular E), also called “Employer’s Tax Guide” […]