Always Check your Local State Tax Codes

🔥🧐 If you pay taxes in FLORIDA you might want to listen in here... I got notice today (early August) from Florida’s Tax Information Publication (TIP) that the Florida legislature must consider adopting the IRS codes for 2021. (Considering we’re already in the 8th month of the year, they're a little behind!) ➡️ Of all the tax codes, the one they decided NOT to allow is the 100% deduction of a business meal supplied by a restaurant. It says that taxpayers need to add back to federal taxable income the amount of the deduction that exceeds the amount that would have been allowed without this change to the IRS code (the 50%). CHECK CHECK CHECK your state tax requirements to see if there are any others new changes that the IRS has created for 2021 that your state is or isn’t allowing. THIS is why you need someone like us for your business! Reach out today (especially if you're in Florida!) for a free, no pressure consultation on what we can do for your small business. Let us take the fear out of your finances and the terror out of your taxes.

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