Don’t Kill the Messenger - The Rise of the Internal Revenue Service - Part 4

24 Jan, 18

Real Estate Property Taxes Decrease This Year

Effective January 1, 2018, the state sales tax rate for renting, leasing, or granting a license to use real property decreases from 6% to 5.8%. Your county surtax will remain the same; for example: If your commercial property is in Seminole County, the rate will drop from 7% (state and county) to 6.8%. If you […]

08 Jan, 18

Cap Changes Coming in This Year

Social security taxable wage limit is $128,700 Retirees can earn $17,040 without reducing their SS benefits Annual gift amount goes to $15,000 HSA contributions are $3,450 for individuals HSA contributions for a family plan is now $6,900 401k deferral is $18,500 and $24,500 for those 50 and older IRA contribution limit is the same as […]

01 Jan, 18

Minimum Wage Rate Changes Effective January 1

Effective January 1, 2018, the minimum wage rate for Florida has been increased to $8.25/hour for non-tipped employees and $5.23/hour for tipped employees. If you subscribe to our poster update service, a new poster reflecting these updates will be sent on or near January 1. If you do not subscribe to the poster update service, […]

31 Dec, 17

Major Tax Law Changes – Prepay Your Property Tax Before Tax Season

Major tax law changes in 2018 might make it prudent to prepay your property tax before the tax season. If you normally take the itemized deduction on your taxes, those amounts change drastically beginning in 2018. So, if your itemized deductions are normally under $25,000, you may benefit from paying your property tax and donations […]