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New Rule for Sales of Clothing and School Supplies

SPECIFIC REASONS FOR FINDING AN IMMEDIATE DANGER TO THE PUBLIC HEALTH, SAFETY OR WELFARE: Section 54 of Chapter 2018-118, Laws of Florida, authorizes the Department of Revenue to promulgate emergency rules to implement the provisions of the…
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How the ‘Hollywood Model’ of Work Could Change HR and Accounting

The gig economy is changing the way companies do business, which means it’s also changing the way human resource managers and accounting professionals do their jobs. One of the biggest shifts has to do with what HR Daily Advisor calls the…
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A new playing field for business

The Supreme Court’s decision on sales tax collection could give smaller companies that rely on in-store sales a better chance to compete with virtual retailers. For years, many shoppers in the United States had a choice: buy from an in-state…
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2018 Disaster Preparedness Sales Tax Holiday

The 2018 Disaster Preparedness Sales Tax Holiday was passed by the Florida Legislature and signed into law by Governor Rick Scott. This sales tax holiday begins Friday, June 1, 2018 and extends through Thursday, June 7, 2018. During this…
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IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced on Thursday that it is modifying the annual limitation on deductions for contributions to a health savings account (HSA) allowed for taxpayers with family coverage under a high-deductible health plan (HDHP) for calendar year…
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Many corporations will pay a blended federal income tax

Many U.S. corporations elect to use a fiscal year end and not a calendar year end for federal income tax reporting purposes.  Due to a provision in the recently enacted Tax Cuts and Jobs Act (TCJA), a corporation with a fiscal year that includes…
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Se Extiende Fecha Límite para Puerto Rico y las Islas Vírgenes

Se Extiende Fecha Límite de Presentación de Impuestos Hasta el 29 de Junio para Víctimas del Huracán María en Puerto Rico y las Islas Vírgenes. El Servicio de Impuestos Internos (IRS) les recuerda a las víctimas del huracán María…
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Interest on Home Equity Loans Often Still Deductible Under New Law

The Internal Revenue Service today advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans. Responding to many questions received from taxpayers and tax professionals, the IRS said that despite…
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Avoid the Rush: Some Taxpayers May Need Prior-Year Tax Data

The Internal Revenue Service today reminded taxpayers who have changed tax software products that they may need information from their 2016 tax return to complete their taxes this year. It’s always a good idea to keep copies of previously-filed…