The end of year is an important time for small businesses. It is important because it is a great time to review your business operations and performance. Not only to prepare for taxes but also make plans for next year. So, what should you do and where should you start?

Uncertain times are inevitable and planning ahead is the best way to prepare yourself and your family for unforeseen hardships. When it comes to protecting your assets in economic ebbs and flows, the first line of defense is reviewing your estate plan to ensure you are utilizing the best strategies now and for the future.

The time to act is now, while the higher exemptions are still in effect.

The Florida Department of Revenue recently released Tax Information Publication (TIP) 24A01-02 which announced a reduction in the state sales tax on the “total rent charged for renting, leasing, or granting a license to use real property” from 4.5% to 2% as of June 1, 2024.

We are halfway through the year and we all know how quickly time passes after the summer. Below are the top five things you can do now to make your January 2025 information reporting process go smoothly.

The new legislation eliminates the minimum franchise tax base which was based upon the value of real and tangible property owned and rented in TN. Beginning with tax periods ending on or after January 1, 2024, the franchise tax will be based solely upon apportioned net worth.

One of the largest and most stressful expenses for businesses is payroll. New legislation going into effect July 1st of this year has the potential to impact the payroll of businesses in all industries.