Category: Blog article
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Understanding Social Purpose Corporations and Benefit Corporations in Florida: What High School Students Should Know
– SP Corp. and B Corp. allow corporations to make a profit while also pursuing socially conscious goals. – These structures provide liability protection for shareholders, officers, and directors. – Companies can take actions that may not directly benefit their bottom line, such as donating a product for each one sold. – SP Corp. and…
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Understanding a Trustee’s Responsibility to Report in Florida
– The Florida Trust Code mandates that trustees provide annual accountings to trust beneficiaries and other relevant parties. – The accounting must include a statement of trust receipts and disbursements, assets and liabilities, property transactions, and trustee fees and expenses. – The trustee must provide an initial accounting within 60 days of assuming control of…
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Auto Insurance Fraud: Famous Cases
The truck driver and the driver of the Firebird survived a collision on a Los Angeles freeway in 1992. One of the Firebird’s passengers was killed. Authorities determined that the incident involving the teacher and her students setting her car on fire was a case of insurance fraud. The teacher had approached failing students and…
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“Florida Home Sales: What Sellers Must Tell Buyers”
1. Every state has different requirements for disclosure when selling residential property. 2. In Florida, it has always been a violation of the law to misrepresent material facts. 3. Prior to 1985, remaining silent and not disclosing material defects was not a violation of the law. 4. The 1985 Johnson v. Davis opinion created a…
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“Is a Medicaid Asset Protection Trust Right for You?”
1. Dolly Parton is known for her philanthropy and has lessons to teach about giving back. 2. Winning a money judgment in court does not automatically provide funds, and there are steps to take to collect the money. 3. Non-citizens in the US do not have the same tax benefits as citizens, especially in estate…
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Meet Hoiberg Group: Your Legal Advisors
– Taxpayers should report all income from gig economy activities, including part-time, temporary, or side work, even if it’s paid in cash, property, or goods and not reported on an information return form. – People working in service industries, such as restaurants and salons, should report all tips received, including cash tips and noncash tips…
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“Understanding Non-Compete and Non-Solicitation Agreements”
– Non-competition and non-solicitation agreements, also known as restrictive covenants, aim to protect employers from unfair competition by former employees. – Under Florida law, restrictive covenants are enforceable if they are in writing, signed by the employee, and reasonably necessary to protect the legitimate business interests of the employer. – Employers should be reasonable in…
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Don’t Stress About Personal Liability as a Qualifying Agent in Florida
1. The Florida Supreme Court ruled that a qualifying agent has a duty to supervise a contractor’s construction projects. 2. However, the failure to meet that duty does not give rise to a private cause of action against the agent. 3. The case of Murthy v. N. Sinha Corp. established that the qualifying agent is…
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“Skills a General Contractor Can Use in Florida”
– Florida Construction Licensing is regulated by Chapter 489, Florida Statutes, which includes restrictions on the scope of work allowed for each license. – A Certified General Contractor in Florida is authorized to enter into contracts to build anything in the state, but may have restrictions on self-performing certain types of work. – Section 489.113,…
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New Florida Law Prohibits Policyholders From Transferring Insurance Benefits
1. Florida’s Senate Bill 2-A prohibits policyholders from assigning their insurance benefits to others for residential and commercial properties issued after January 1, 2023. 2. This means property owners with post-2023 policies can no longer transfer their benefits to a third party. 3. Homeowners with policies issued before 2023 are not affected by this change…
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Understanding Real Estate Law for High School Students
1. The data shows that there is a strong correlation between smoking and lung cancer. 2. The research indicates that exercise can improve mental health and reduce symptoms of anxiety and depression. 3. The survey results reveal that a majority of respondents prefer products with environmentally friendly packaging. 4. The analysis suggests that there is…
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Florida Condominium Association Emergency Powers Explained
– In Florida, condominium living is popular, especially near the water. – Hurricanes have influenced building codes in the state and can cause severe damage to buildings and regions. – Chapter 718 of the Florida Condominium Act provides emergency powers for condominium associations in response to damage caused by a declared state of emergency. –…
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Florida Lowers Sales Tax Rate on Commercial Real Property Leases Again
– Governor Ron DeSantis signed House Bill 7123 on May 15, 2019 – The state sales tax rate on commercial real property leases will be reduced from 5.7 percent to 5.5 percent effective January 1, 2020 – There is no reduction to the local option surtax, which is imposed in 0.5 percent increments by many…
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How Florida Can Sue Out of State Companies
1. The out of state defendant’s minimum contacts with Florida determine if the state court can enforce a judgment against them. 2. The defendant’s contacts must not offend “traditional notions of fair play and substantial justice” as per the United States Constitution. 3. Florida’s Long Arm Statute outlines the circumstances under which an out of…
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What to Do if You’re Hurt at an Amusement Park
– Theme park injuries are rare, but there are over 30,000 reported annually worldwide – In 2019, there were 1,299 reported injuries from amusement park accidents in the United States – Florida and Texas are home to many major theme parks and attractions that draw millions of visitors each year – RTRLAW has been serving…
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Saving Money on Taxes with a Personal Residence Trust
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. After winning a money judgment in litigation, it’s important to understand that the judgment by a court entitles you to the amount stated, but it does not actually provide you with funds. 3. Non-citizens in the U.S.…
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Jurisdiction and Regular Use in Florida Federal Court
– Parkway Towers Condominium Association Inc. filed a lawsuit in state court claiming their insurer should cover the damage from water intrusion on their property. – Specialty Insurance Co. filed a notice of removal based on diversity jurisdiction, and the state court agreed to transfer the case to the United States District Court for the…
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Digital Estate Planning: A Guide for Florida Residents
– Digital estate planning involves organizing and managing digital assets, as well as specifying how they should be handled after one’s demise. – It is important to make a list of all digital assets, including email accounts, social media profiles, online subscriptions, websites or blogs, and financial assets like cryptocurrency and online bank accounts. –…
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Does Renting Out a Room in Your Florida Home Affect Your Homestead Protection?
1. Florida homestead laws allow homeowners to rent out a room for non-commercial residential purposes without losing their homestead status. 2. Homeowners should check their homeowner’s association rules and regulations to ensure they are allowed to rent out a room. 3. The Second District Court of Appeals in Florida has confirmed that renting a room…
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5 Important Facts About Mandatory Mediation and Arbitration
1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. 2. After winning a money judgment in a lawsuit, individuals need to take additional steps to actually receive the funds. 3. Non-citizens in the U.S. do not receive all the same tax benefits and estate planning considerations as…
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“Understanding Hoiberg Group: A Guide for High School Students”
– The best way to check the status of a tax refund is through the Where’s My Refund? tool or the IRS2Go app. – Updates to Where’s My Refund are made once a day, usually overnight, and it’s possible for a refund to take longer than the expected 21 days. – A tax refund amount…
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Police Officers Can’t Use Medical Marijuana, Says First DCA
– The First District Court of Appeal upheld the termination of a certified correctional officer who tested positive for marijuana metabolites despite possessing a medical marijuana card. – The Court clarified that employers of sworn corrections and law enforcement personnel in Florida may prohibit the use of medical marijuana and take adverse employment action for…
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How to Find a Business Partner: Tips for High Schoolers
1. People who exercise regularly are less likely to develop chronic diseases. 2. Children who eat a healthy diet are more likely to have better academic performance. 3. Stress can negatively impact a person’s immune system. 4. Employees who have flexible work schedules report higher job satisfaction. 5. Regular social interaction can improve mental well-being.…
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Why Some Married Couples File Separate Tax Returns
1. One spouse has significant medical expenses: Filing separately can result in larger total deductions for medical expenses if one spouse has lower adjusted gross income (AGI) compared to the higher joint AGI. 2. Different income levels: Filing jointly can bring some income out of a higher tax bracket and result in more tax savings,…