Florida’s unemployment rate increased to 11.5% near the end of 2009, which is the highest Floridians have seen in 34 years. This drastic increase in unemployment depleted the State’s unemployment trust fund to zero in August 2009. Florida then began borrowing from the federal government to pay unemployment benefits to the point that the state [...]
The IRS warns of several common errors taxpayers make when filing their individual tax returns that cause processing delays, and could potentially result in returns being rejected or adjusted. Pay special attention to: Social security numbers. These are often missing or entered incorrectly. Incorrect or misspelling of last name. Names must be entered exactly as [...]
If you’re in construction you know it tends to be a cyclical industry with highs and lows. The highs seem a distant memory as we’re now in a very significant low. Competitors in a shrinking market sometimes lower their prices below cost; how can they do that? Isn’t it better to not take on a [...]
One of Florida’s less popular taxes is the tangible tax. This tax is assessed primarily on business property that is not considered to be real estate, including equipment, furnishings, tools, supplies and property improvements used for the production of income. It includes rental property but not inventory held for resale. The state authorizes the tax, [...]
As a part of the tax stimulus effort of our generous Uncle Sam, those taxpayers who do not itemize their deductions can take limited additional deductions on Schedule L while still benefiting from their full standard deduction. Here are the three instances: If you’ve paid real estate taxes of up to $1,000 in 2009, $500 [...]
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