news Archives - Accountants & Business Advisors

Gov. Ron DeSantis Of Florida Spoke In Rochester, N.H., Last Month.Credit...David Degner For The New York Times

Florida’s 2023 Legislative Highlights: Law Restricting Foreign Ownership of Real Estate and more laws enacted by Gov. DeSantis

August 24, 2023
GPCPAs
Tax-Telegram
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In May 8, 2023, Florida's Governor Ron DeSantis affixed his signature to nearly 300 bills that had successfully navigated the channels of the Republican-controlled State Legislature during the legislative session.…

High inflation will persist into next year, CBO projects

May 27, 2022
GPCPAs
Economy
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The Congressional Budget Office said this week that high inflation is expected to persist for the rest of the year, saddling Americans with higher costs as price hikes continue, Jeff Stein, The Washington Post's White House economics reports.

American Rescue Plan Act (2021) lowers filing threshold for Form 1099K, Payment Card and Third-Party Network Transactions.

November 2, 2021
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Economy
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he American Rescue Plan Act of 2021 (“the Act”), enacted in March 2021, dramatically lowers the filing threshold for payments required to be reported on the annual Form 1099-K from $20,000 in aggregate reportable payments and 200 transactions to just $600 in aggregate reportable payments and eliminates the transaction minimum. This modification is effective for calendar years ending after December 31, 2021. You may see this new requirement on Section 9674 of the federal bill.

New Stimulus Check If You Live In This State

Are you Eligible for this New Round of Stimulus Check?

July 20, 2021
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Tax-News
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Governor Gavin Newsom signed additional COVID-19 relief legislation this week that will provide $600 stimulus checks to the majority of his state's residents as well as additional payments to dependents, Newsweek reported. At the end of June, the Democratic governor reached an agreement with state lawmakers to approve the direct payments, as well as billions in other economic relief, according to Newsweek.

G7 Countries reached agreement on 15 percent minimum global tax rate

June 5, 2021
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Tax-News
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Finance ministers for the G-7 advanced economies (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) announced Saturday they have reached an agreement at the G-7 meeting…

Tax Hikes on high-income Americans?

April 19, 2021
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Tax-News
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President Joe Biden is contemplating new tax hikes aimed at high-income families to finance the second phase of his multitrillion-dollar infrastructure plans, according to people familiar with the discussions, Politico…

Federal Tax Filing and Payment Deadline Extension

March 21, 2021
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Tax-News
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#ICYMI: The federal tax filing deadline has been extended to May 17, 2021. While you now have more time, we still encourage all taxpayers to file their taxes now to…