Newsletters

Information we gather and share with clients and our community.

Keep Economic Impact Payment notice with other tax records

People who receive an Economic Impact Payment this year should keep Notice 1444, Your Economic Impact Payment, with their tax records. This notice provides information about the amount of their payment, how the payment was made and how to report any payment that...

Paycheck Protection Program

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan...

Tax Relief provided by the CARES Act

We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping...

Delay of April 15 Individual Income Tax Payment

The IRS issued Notice 2020-17 to confirm the relief provisions noted by Treasury Secretary Steven Mnuchin at a press conference on March 17, 2020 that individuals can defer income tax payments up to $1 million of their 2019 tax due. This relief extends the payment due...

New Tax Law

On December 20, 2019, an omnibus spending package, the "Further Consolidated Appropriations Act, 2020" (H.R. 1865) was adopted into law. In addition to providing full-year funding through September 30, 2020, the legislation includes many changes to retirement plan...

2020 Change of Deferral Limits

The IRS announced new contribution plan limits for year 2020. Changes are listed in the chart below.  Please contact our office if you have any questions about maximizing your retirement savings.  Reach UsVisit our office or call us to schedule an appointment with one...

Change in Sales Tax for Rent

Effective January 1, 2020, the sales tax rate for commercial rent collected on or after January 1, 2020 decreases to 5.5% plus the county surtax.  For example, Columbia county has a surtax rate of 1% so the total sales tax rate for commercial rent collected will be...

2020 Florida Minimum Wage

The 2020 minimum wage in Florida is $8.56 per hour, effective January 1, 2020, with a minimum wage of at least $5.54 per hour for tipped employees, in addition to tips. Reach Us Visit our office or call us to schedule an appointment with one of our team members. 4641...