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Taxes

Tax Collection On Internet Sales To Begin In Florida

In 2018, the U.S. Supreme Court ruled in South Dakota vs. Wayfair that states can require online businesses to collect sales taxes, even if they do not have a physical presence in the state. After nearly 3 years, Florida is finally about to do so.

On April 19th, 2021, Governor Ron DeSantis signed into law a tax package, Senate Bill 50, to require out-of-state online retailers to collect sales taxes on purchases made by Floridians.

Beginning on July 1st, 2021, retailers selling more than $100,000 a year online will have to start collecting 6% sales tax from residents at the point of sale. Businesses who sell less than $100,000 a year online will be exempt from collecting this tax.

Taxes

Tax Evasion Enforcement To Be Stepped Up

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The Internal Revenue Service (IRS) has recently warned taxpayers (and tax professionals) to be on the lookout for a new wave of scams that involves calls and email phishing attempts about COVID-19 economic relief payments. When identity theft takes place online, it is referred to as “phishing”. During these occurrences, scammers will use fraudulent IRS logos in attempt to gain access to victims’ personal and financial information which may lead to tax-related fraud and stolen identities.

Uncategorized

Beware of IRS Email Scams

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The Internal Revenue Service (IRS) has recently warned taxpayers (and tax professionals) to be on the lookout for a new wave of scams that involves calls and email phishing attempts about COVID-19 economic relief payments. When identity theft takes place online, it is referred to as “phishing”. During these occurrences, scammers will use fraudulent IRS logos in attempt to gain access to victims’ personal and financial information which may lead to tax-related fraud and stolen identities.

Accounting

What Is Cryptocurrrency?

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cryptocurrency is a form of digital currency or payment that can be exchanged for products and services. Low fees, online safety, easy access, and the potential for profit are a few reasons why cryptocurrency has become so relevant, especially in recent years. You could even say that cryptocurrencies are considered the future of money by many individuals.

Entreprenuer

Meet our Team at Brock CPA

For years, our team at Brock CPA has been able to work with multiple locally owned businesses across Northeast Florida, providing a variety of accounting and advisory services to meet the individual needs of our clients. Over the past year, we have had the privilege of expanding our team to further work towards greater goals and fully embrace our role of advocating and guiding clients to make expert decisions for the benefit of their families and businesses. Whether you are in need of tax planning and preparation, business advisory, estate, trust and succession planning and/or CFO services, our team of professionals are ready to assist you with developing the best strategies for success.

We want to take this opportunity to introduce to you our new and existing team members that have made our team the best full-service certified public accounting firm in Northeast Florida.

Business

Say Hello to Brock CPA’s New Website

Brock CPA has launched a new website with a fresh look, designed with your needs in mind. Our clients and their experiences with our company are incredibly important to us. We have added new features as well as customized solutions to ultimately enhance your user experience and ensure that you can find exactly what you are looking for with ease.

Accounting Advisory Business Taxes

2021 Federal Income Tax Deadlines for 2020 Returns

As we turn the corner on a new year, it is important to be aware of important tax deadlines and dates for filing your 2020 tax returns, so that you can be prepared and avoid headaches and penalties. In 2020, the IRS extended tax deadlines in response to COVID-19. Generally, deadlines for annual returns are in the spring with extensions available until the fall. Although dates are always subject to change, no such provisions have been enacted to date for this year.

Accounting Advisory

CFO Advisory Services

Business owners today have access to a great deal of financial information, and the sheer volume of information creates challenges.

Not only does sorting through the data take time, but business owners also need to know where to find relevant information and how to use the information when evaluating options.

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