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Navigating the Sunshine State’s Rental Landscape: Tips for Florida Landlords
Florida’s vibrant real estate market and thriving tourism industry make it an attractive destination for property investors and landlords. However, with the allure of sandy beaches and sunny days comes a unique set of challenges for those in the rental business. From unpredictable weather to evolving legal regulations, Florida landlords must be well-prepared to handle…
What Business Owners Need to Know About the Corporate Transparency Act
On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act for Fiscal Year 2021. Congress passed this as an attempt to better enable critical national security, intelligence, and law enforcement efforts to counter money laundering, the financing of…
From Quiet Title Action to Breach of Warranty: Florida’s Legal Remedies for Title Issues
When buying or selling a property in Florida, it is essential to ensure that the title is clear and free of any issues affecting ownership rights. Unfortunately, title issues can arise even after a property has been purchased, leading to significant legal problems. If you find yourself in this situation, it is important to understand…
Navigating Landlord Tenant Disputes in Florida: 5 Common Challenges and How to Overcome Them
As a landlord, you’ve probably heard horror stories about tenants who refuse to pay rent, damage your property, or violate the terms of the lease agreement. These disputes can quickly escalate into costly lawsuits, leaving both parties frustrated and stressed. As a landlord, it’s crucial to be aware of the common disputes that can arise…
Ad Valorem Property Tax Refunds Available for Those Affected by Hurricane Ian
Deadline Extensions
Last fall, Governor DeSantis signed Executive Order 22-242 on October 20, 2022, extending ad valorem property tax filing deadlines for Floridians affected by Hurricane Ian and called for a special session to address further relief. The special session concluded toward the end of the December and Governor DeSantis signed Senate Bill 4-A, which…
Did inflation just save me money on my taxes?
The short answer is “yes.” On October 18, 2022, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2022-38 (the “Procedure”). This Procedure adjusted certain dollar amounts related to tax items due to inflation. What you may not know is that certain dollar amounts contained in the tax code are subject to inflation. This means…
Did Hurricane Ian extend deadlines with my Section 1031 Exchange?
As you may recall from our previous post, Hurricane Ian extended certain due dates with respect to tax returns for those affected. There is also relief for certain taxpayers who have an ongoing Section 1031 Exchange. Under the Revenue Procedure 2018-58 (“Rev. Proc. 2018-58”), two sections grant relief to taxpayers involved in a Section…
Important Reminders as 2022 “Tax Day” Approaches
If you have not yet filed your 2021 tax return, the Internal Revenue Service provides a plethora of guidance. Below is a summary of few of the items taxpayers should know before filing:
Cryptocurrency
Did you receive, sell, exchange or buy any virtual currency? All taxpayers filing Form 1040, Form 1040-SR or Form 1040-NR must…
How does receiving a PPP Loan impact filing my company’s taxes?
Welcome to 2022 tax season! As the vast majority of businesses, small and large, were affected by the COVID-19 pandemic, many companies received support through the Paycheck Protection Program. However, there were many question marks with the Paycheck Protection Program, such as the timing of forgiveness and if eligible expenses are deductible for federal income…