The Sunshine State offers a host of financial and tax benefits if you’re considering living in Florida. Florida residents likely enjoy significantly reduced tax obligations compared to many other states.Florida does not impose a personal income tax, an inheritance tax, a gift tax, or an intangible personal property tax.The more ties you have to Florida, the more likely your Florida domicile will be respected.
With potential tax law changes on the horizon, now is a good time to be certain you are informed and prepared.As fiscal stimulus and relief plans continue, Congress and the presidential administration have given guidance on how the revenue needs will be met.With highly anticipated potential tax law changes on the horizon, it may be wise to review proposals that could affect your future planning.As of May 28, 2021, the Dept.
May 4, 2021—The ongoing pandemic has made philanthropy more important than ever. The good news is some of the charitable giving tax benefits, originally enacted through the CARES Act at the start of the pandemic, have been extended through 2021.