Foreign Investing in Florida Real Estate
Foreign investing has seen a dramatic increase the last several years. Florida has been one of the more prominent locations where such foreign investing occurs, specifically in real estate. Miami, in particular, contains a lucrative real estate market where many investors from all over the world come to invest. It is imperative that these foreign investors are aware of the various implications when acquiring property with a particular holding structure and properly plan their investments.
COVID -19 Employer Aid & Tax Credits
The COVID-19 pandemic has been looming over businesses and employees for a majority of the year. Florida businesses have been greatly affected and unemployment numbers have increased substantially throughout the pandemic. Miami businesses, in particular, were greatly affected due to county wide quarantine shutdowns and curfews. Many of these businesses that have been severely impacted by the pandemic will qualify loans through the CARES Act and two new employer tax credits.
Does the Federal Trade Commission Impose Regulations on Credit Repair Companies?
Yes, as part of its broad authority to protect consumers, the Federal Trade Commission (FTC) enforces the Credit Repair Organizations Act (CROA) which specifically relates to credit repair services. This act regulates the behavior of companies offering credit repair services to consumers.
Florida’s Eviction Moratorium has Expired. Now What?
In March, due to the coronavirus pandemic and the economic disadvantage it placed many Floridians, the Governor of Florida issued a moratorium on all mortgage foreclosure and eviction causes of action in the state. Although this executive order has now expired, the Centers for Disease Control and Prevention (CDC) has released a new order, “Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19.”
Can You Deduct the Costs of Gifts from Your Business Income?
Certain gifts made during the course of the year can be deducted from your business’s taxable income. Of course, the IRS provides several limitations and exceptions, such as a $25 maximum per recipient and exclusion of gifts which are branded with the giver’s name or logo.
How Do I File for Divorce in Florida?
Every state has its own significant divorce laws and regulations. Florida is a no-fault state, meaning that there does not need to be a party at fault for the divorce. The spouse asking for a divorce simply needs to claim that the marriage is “irretrievably broken.” It is important to note, that when filing for divorce, Florida has its own residency requirements. The spouse filing for divorce has to have lived in the state for at least six months prior to initiating a divorce. However, there is one exception to this rule.
What is the Florida Consumer Collection Practices Act (FCCPA)?
The Florida Consumer Collection Practices Act (FCCPA) limits the method in which debt collectors and creditors interact with consumers when attempting to collect a debt. The act prohibits creditors and debt collectors from using abusive, unfair, or deceptive tactics when collecting debt from consumers. Additionally, it provides a right to bring litigation against wrongdoers and to recover damages and attorneys’ fees.
Can I Move My Limited Liability Company (LLC) From One State to Another?
If you are operating a Limited Liability Company (LLC) in one state but want to move it permanently to another state, you may do so through a process called domestication. It is important to note that the state you are moving your LLC from and the state you are moving it to, must allow for domestication in order for you to validly transfer your business. Florida is among the states which allows for this process.
Statute of Limitations on Landlord Tenant Security Deposit Disputes
A security deposit is a refundable fee that a new resident gives to their landlord in addition to advance rent payment. The security deposit is essentially an insurance on the property in the event that the tenant causes any damages made by the tenant that exceeds ordinary wear and tear.
What is the Florida Documentary Stamp Tax?
The Florida Documentary Stamp Tax is an excise tax that is enforced on certain documents that are executed, delivered, or recorded in the state. An excise tax is an indirect tax charged by the government on the sale of a particular good or service.
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