Sales Tax Cap on Boats Purchased in Florida- Bill Passed

By |2010-06-30T09:48:36-04:00June 30th, 2010|Sales and Use Tax, State Taxes|

According to the The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT Link to Source: http://www.flsenate.gov/data/session/2010/Senate/bills/analysis/pdf/2010s2454.cm.pdf The state sales and use tax on aircraft and boats in Florida is levied at a rate 6% of the purchase price or value of the aircraft or boat. The bill provides that the [...]

Affordable Care Act Tax Provisions

By |2010-06-30T09:29:50-04:00June 30th, 2010|Health Care Reform|

Source: IRS The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that take effect this year and more that will be implemented during the next several years. The following is a list of provisions now in effect; additional information will be added to this [...]

Affordable Care Act Provides Expanded Tax Benefit to Health Professionals Working in Underserved Areas

By |2010-06-16T13:38:04-04:00June 16th, 2010|Health Care Reform, Individual Income Tax, News Articles|

WASHINGTON — As part of a larger Administration announcement on efforts to strengthen the health care workforce, the Internal Revenue Service today announced that under the Affordable Care Act health care professionals who received student loan relief under state programs that reward those who work in underserved communities may qualify [...]

IRS Issues Regulations on 10-Percent Tax on Tanning Services Effective July 1

By |2010-06-11T16:34:08-04:00June 11th, 2010|Corporate Income Tax, Excise Taxes|

WASHINGTON — The Internal Revenue Service today issued regulations outlining the administration of a 10-percent excise tax on indoor tanning services that goes into effect on July 1. The regulations were published today in the Federal Register. In general, providers of indoor tanning services will collect the tax at the [...]

Full Asset Depreciation Increase Extended

By |2010-06-05T16:38:34-04:00June 5th, 2010|Corporate Income Tax|

Depreciation and Section 179 Expense HIRE and Section 179 DeductionA qualifying taxpayer can choose to treat the cost of certain property as an expense and deduct it in the year the property is placed in service instead of depreciating it over several years. This property is frequently referred to as [...]

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