Tax Tips for Business Owners

In a tightening economic climate smart business owners take advantage of all opportunities.  Here are a few you might not be aware of courtesy of the Florida Department of Revenue and the IRS.

Got office equipment?  Benefit from the new tangible personal property tax exemption.
Everybody knows that Amendment 1 recently passed provides increased homestead exemptions portability of “Save our Homes” benefits and even an annual “assessment limitation” for non-homesteaded property.

But many business owners don’t know about the change in the tangible personal property tax exemption.  There’s now an exemption for the first $25000 of tangible personal property you have in your business including office furniture computers machinery and equipment.

Hiring?  Consider taking advantage of the Work Opportunity Tax Credit  

”