You must start RMD at age 73 in 2026…. But you can elect to delay the 2026 into 2027… so you would have 2 rmd payouts in 2027…. Generally not a good idea if it puts you in a higher marginal bracket. · First Deadline: You can take your first RMD during the year you turn 73 […]
Executive Order 14247 MANDATES transition to electronic payment for tax refunds. That order also includes ALL federal disbursements except circumstances outlined in www.IRS.gov/ModernPayments […]
Qualified Charitable Donations count toward Required Minimum Distributions […]
You will receive an email from Florida Division of Corporations in January to pay the Annual Fee by May 1st. If you are late in making this payment below are the late filing penalties. […]
As of late 2025, Florida has permanently eliminated sales tax on commercial leases and made several sales tax holidays permanent. There was also a proposal in the legislature to permanently lower the overall sales tax rate, but it was not passed. New permanent tax law effective October 1, 2025 Elimination of commercial lease tax: House […]
The BIG BEAUTIFUL BILL is over 1,000 pages…. Here is some info on a couple provisions in the Big Beautiful Bill No Tax on Tips: Effective Tax Years 2025 – 2028 The first $25,000 of tips are tax deductible. Taxes are still taken out of employees pay so it doesn’t affect paychecks. The tax benefit […]
DUE DATES EXTENDED For all of the State of Florida, the extended due date for 2023 is May 1 2025 AND the filing due date for 2024 is May 1 2025 IRS announces tax relief for victims of Milton; various deadlines postponed to May 1, 2025 in all of Florida | Internal Revenue Service Regarding […]
2025 & 2024 MILEAGE RATES Standard mileage rates are used to calculate deductible vehicle operating costs for various purposes, including: Medical, moving, and charitable are unchanged from 2024. […]
If at least 70 ½ and want to donate from your traditional IRA, DON’T take a distribution to yourself (that is taxable). Instead use the QCD rules…. Transfer up to $105k DIRECTLY from the IRA to charity. It is not taxable to you, does not affect your Adjusted Gross Income and can use it to comply with […]
