RC TAX PROS

Florida’s Back to School sales tax holiday will begin on August 1st and run an entire month, through August 31st. During this period, no sales tax or local county tax will be collected on the purchases of clothing, footwear, and certain accessories with a sales price of $100 or less per item, certain school supplies with a sales price of $50 or less per item, learning aids and jigsaw puzzles with a sales price of $30 or less per item, and sales of personal computers and certain computer-related accessories with a sales price of $1500 or less when purchased for noncommercial home or personal use. More information can be found on the Florida Department of Revenue Website in Tax Information Publication -08 . All relevant tax categories will be exempt during the holiday period under the appropriate thresholds.

BOI Reporting Deadline Now March 21

On Feb. 18, a Texas district court lifted the last remaining nationwide block against enforcing the Corporate Transparency Act (CTA), restoring beneficial ownership information (BOI) reporting requirements.

PLEASE be sure that you are on a fincen.gov website. There are many companies who are hosting scams or portraying themselves as government agencies. https://boiefiling.fincen.gov/ A business owner should be able to complete the report on their own, but you will need to be sure to do your research for proper reporting. Although the report itself seems simple, there are many requirements and options. If you find you are in need of assistance, or simply do not have the time to file your report, we offer this service at a rate of $295. If your report is not filed by 01/01/2025, the government will impose a fine of $500 per day. This report is required for any business that is registered with the Secretary of State (with some exceptions). This means if you own multiple businesses, multiple reports will be required.