Posted in Business & Corporate Law,Real Estate Law

For some St. Augustine homeowners, vacation rentals are a steady source of income, but others argue that this revenue isn’t worth the cost to the community and describe these transient rentals as a “nuisance.”  Transient rentals are units or homes that are rented more than three times in a calendar year for a period of less than 30 days.  A search in the St. Augustine area for Airbnb or VRBO reveals that the industry is alive and well.   
Continue Reading »

Posted in Business & Corporate Law,Tax Law & IRS Defense

Transient rentals are a thriving business in Florida, and one which many Florida real estate owners may utilize in an attempt to supplement their income.  Generally speaking, a transient rental is one that lasts for less than six (6) months.  What many property owners do not know is that transient rentals are subject to Florida sales tax.  Florida law requires that property owners charge to, and collect from, each transient guest an additional six percent (6%).
Continue Reading »

Posted in Business & Corporate Law,Tax Law & IRS Defense

If you are a Florida small business owner, independent contractor, or otherwise self-employed, it’s important to note that you may be liable for self-employment taxes.  Generally, the term self-employment tax refers to the Social Security and Medicare taxes for taxpayers who are self-employed.  Self-employed individual should calculate and report your self-employment tax on Schedule SE of their form 1040.
Continue Reading »

Posted in Business & Corporate Law,Tax Law & IRS Defense

When the State of Florida turned St. Johns County over to local government in 1972, the county elected to collect local business taxes (formerly known as occupational licenses). The local business tax, County Ordinance 72-2, requires all individuals or organizations doing business located in or operating in St. Johns County to obtain a local business tax receipt. The tax is paid annually with the fiscal year beginning on October 1.
Continue Reading »

Posted in Business & Corporate Law,Real Estate Law

Recent legal developments have once again drawn attention to an area that has experienced heated debate and spurred litigation: vacation rentals.  “Vacation rentals” are defined by statute as “any unit or group of units in a condominium or cooperative or any individually or collectively owned single-family, two-family, three-family, or four-family house or dwelling unit that is also a transient public lodging establishment but that is not a timeshare project.” 
Continue Reading »

Posted in Asset Protection,Business & Corporate Law,Tax Law & IRS Defense

Calendaring important IRS and tax authority deadlines can save you a lot of headaches at tax time.  To avoid paying penalties and other tax consequences, keep a calendar and review tax deadlines with your Accountant, CPA, Enrolled Agent, or Tax Attorney.  Jackson Law Group has tax attorneys that can assist you with IRS or other tax problems.  The below items are a few examples of important dates:
Continue Reading »

Posted in Asset Protection,Business & Corporate Law

Florida law regulates the ownership of a professional limited liability company or professional corporation in an effort to safeguard the public from adverse interests.  See our prior two Blog Posts (LINK 1) (LINK 2) for more information on professional businesses.  Under Chapter 621 of the Florida Statutes, a professional business’s owners may only be professional limited liability companies, professional corporations, or individuals who are duly licensed or otherwise legally authorized to render the same professional service.[1]  Each owner must be licensed or otherwise legally authorized to conduct the professional service that the entity is organized or incorporated for.  For example, under this provision, a Florida attorney, accountant, and life insurance agent are prohibited from forming and operating a single professional entity. 
Continue Reading »

Posted in Asset Protection,Business & Corporate Law

Florida has recently amended the law regarding what must be included in the name of professional businesses formed after January 1, 2014.  Below is a brief summary of the changes.  Companies formed prior to January 1, 2014 are not required to update the entity’s name to conform to the new requirements.  However, the entity’s name should still conform with Florida law prior to the recent amendments.  See our prior Blog Post (LINK) on what a professional service corporation or professional limited liability company is for more information on professional businesses.
Continue Reading »