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Category: Blog article

  • Year-End Tax Tips for Small Business Owners

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    – Section 179 of the IRS tax code allows business owners to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year from gross income. – Business owners can defer income by sending out invoices a few days later in December or accelerate deductions by prepaying bills due…

  • “Health Insurance Subrogation and Your Motorcycle Injury Case”

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    – Health insurance subrogation allows the insurance company to recover the money it paid for the medical treatment of an injured person in a motorcycle crash. – For example, if Mr. Jones has health insurance and is injured in a motorcycle crash, his health insurance company has the right to recover the money it paid…

  • What High School Students Should Know About Buying a House

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    1. Understand how much you can afford by budgeting for mortgage and necessary expenses and using that number as a cap for shopping around for mortgages. 2. Figure out your monthly housing costs, including mortgage payments, property taxes, insurance, homeowner’s association fees, and utilities, aiming for a payment amount below 22% of your income. 3.…

  • The Benefits of Required Alternative Ways to Settle Disagreements in Contracts

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. 2. Winning a money judgment in a legal case does not automatically provide funds, and there are steps to take in order to collect. 3. Non-citizens in the U.S. do not receive all the tax benefits that citizens…

  • Navigating Florida Sales and Use Tax Audits in the Food & Beverage Industry

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    – Marcum Foundation supports causes that improve the health and wellbeing of children. – The firm offers Assurance, Tax, and Advisory services to clients operating businesses abroad. – The Marcum family includes both current and past employees, valuing relationships built through working together. – The 2023 Marcum Year-End Tax Guide provides an overview of tax…

  • Understanding Florida Condo and Homeowner Associations Laws

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    1. Condominium associations and homeowner associations in Florida are governed by declarations/covenants, bylaws, articles of incorporation, and Florida Statutes. 2. Board members of these associations must be familiar with the governing documents and Florida law to properly govern the communities. 3. Owners in these communities should also be familiar with the governing documents and Florida…

  • Understanding e-Discovery and its Importance in Florida Rules

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    1. E-discovery involves the exchange of information in an electronic format, often referred to as electronically stored information (ESI). 2. Commonly used terms in e-discovery include native format, metadata, and deduplication. 3. Native format refers to the original file format of the document, allowing for a more accurate presentation of the information. 4. Metadata includes…

  • Updated Florida Business Corporation Law Explained

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    – The Florida Business Corporation Act was revised in 2020. – Changes to the Act were based on the Revised Model Business Corporation Act. – Major changes were made to nearly every section of the business corporation law. – Some highlights of the changes include provisions for incorporation, naming rules, reservation of name, and correcting…

  • Florida Inverse Condemnation Claims: What High School Students Need to Know

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    1. Inverse condemnation claims are brought by private property owners when the government’s actions result in a taking of the property without full compensation. 2. Examples of takings that can result in an inverse condemnation claim include physical invasions of property, regulatory takings, or other government conduct that takes real property. 3. Some cases in…

  • “Is Your Business Eligible for This Big Tax Break?”

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    – Pass-through entities now have a more level planning field with businesses that benefitted from the 2017 corporate tax reduction. – The Tax Cuts and Jobs Act allows noncorporate owners of pass-through businesses to claim a deduction equal to 20% of their qualified business income. – Eligibility for the new deduction is limited to qualified…

  • "Understanding the "Pay When Paid" Clause"

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    1. “Pay when Paid” clauses protect contracting parties from paying subcontractors and suppliers if they have not been paid by their own upstream contracting party. 2. Florida law provides for two types of construction payment bonds: standard payment bond and conditional payment bond. 3. A conditional payment bond prevents claims against the bond in the…

  • Resolving Disputes in Florida Condo Associations and HOAs

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    – The Florida Condo Act requires certain disputes to be submitted to mandatory non-binding arbitration with the Florida Department of Business and Professional Regulation (DBPR). – Disputes involving board member recalls and certain other issues must be resolved through arbitration. – Title disputes, interpretation/enforcement of warranties, fee/assessment levies, collection of assessments, eviction/removal of tenants, breaches…

  • Florida Driving Laws Explained

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    1. The research found that consuming sugary drinks is linked with an increased risk of type 2 diabetes. 2. The study discovered that regular exercise can help improve mental health and reduce symptoms of depression. 3. The investigation revealed that individuals who get less than 7 hours of sleep per night have a higher risk…

  • “Restrictions on Former Vet Sales Reps”

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    1. The federal trial court judge in Jacksonville, Florida granted a request for a preliminary injunction to enforce a non-compete provision in an employment agreement against a former sales rep of a veterinary orthopedic supply company. 2. The court enforced parts, but not all, of the post-employment restrictive covenant provisions in the employment agreement that…

  • Protecting Your Children’s Inheritance When Your Parent Remarries

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    1. Dolly Parton is known for her philanthropic efforts and has valuable lessons to teach about doing good. 2. After winning a money judgment in litigation, individuals need to understand the next steps for actually receiving the funds. 3. Non-citizens in the US may not receive the same tax benefits and estate planning considerations as…

  • Understanding a Florida Trustee’s Responsibility to Invest Wisely

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    – A Florida trustee is legally obligated to invest trust funds prudently and in the best interests of the beneficiaries. – Florida law, specifically section 518.11 of the Florida Statutes, imposes a duty on trustees to act with care, skill, prudence, and diligence when investing trust assets. – Trustees must manage trust assets as a…

  • Understanding Title Insurance for Buying a Home

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    – Property ownership issues can arise after closing on a new home – Title insurance protects against financial loss due to unknown property ownership issues – Title search is essential to identify potential problems with the deed or title – Lenders often require title searches as part of their underwriting process – Local professionals who…

  • Understanding Probate: What it Means for High School Students

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    – Probate is based on state law and varies in length depending on the state. – If a deceased person has a valid will, probate begins when the executor presents the will to the courthouse. – If there’s no will, the court will appoint someone to administer the estate. – The process involves filing a…

  • New Florida Law Protects Company Executives from Testifying in Court Cases

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    – The Florida Supreme Court has officially adopted the apex doctrine for lawsuits in Florida, effective August 26, 2021. – The apex doctrine limits when high-level company personnel can be deposed, reducing potential harassment and settlement leverage. – Courts consider two factors when determining whether to allow an apex deposition: whether the officer has unique…

  • Key Facts About Florida’s Construction Laws for Real Estate Developers

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    1. Developers must file a notice of commencement, record it in the public records, and post it on the job site before beginning work on a project. 2. Lienors must serve a notice of owner to the developer and all parties listed on the notice of commencement as a prerequisite to perfecting a lien. 3.…

  • Starting a Business in Florida: General Partnership in Miami

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    – The most common business structures in Florida are Limited Liability Company (LLC) and Corporation. – Partnerships in Florida can be formed with a handshake, with four types available: general partnership, limited partnership, limited liability partnership, and foreign limited liability partnership. – For a business relationship to become a general partnership, Florida law does not…

  • “Understanding and Fixing Problems with Property Titles in Florida”

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    1. Fraud and forgery: A forged deed is void and does not affect the real landowner’s title to the property. A bona fide purchaser who takes title to land by a forged deed, without notice of the forgery, is not protected by its recordation in the Public Records. 2. Judgments and liens: Judgments and liens…

  • Protecting Your Business Relationships in Florida

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    – Non-compete agreements in Florida are governed by Section 542.335 of the Florida Statutes. – Referral sources and patient and customer lists can be legitimate business interests warranting protection under Florida law. – The statute defines “legitimate business interest” to include trade secrets, confidential business information, relationships with customers, patient or client goodwill, and specialized…

  • “Understanding the Importance of a Living Will”

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    A Living Will is important for addressing end-of-life conditions such as persistent vegetative state, end-stage conditions, and terminal illnesses. It helps clarify your intentions and wishes for medical care providers, family members, or friends if any of these conditions occur. Having a valid Living Will can relieve family members of the guilt of making end-of-life…