It is the beginning of a brand new year. What does that mean for the people of America? Tax season is almost upon us! With a new year mean new laws; more specifically tax laws. If you are unaware of what the laws are and whether they affect you, no worries. Our experts at SmarTax are here to clear the air. We specialize in all things taxes and payroll services. You can trust us, Pembroke Pines.
New Florida Laws of 2019
- Minimum wage increase
- Florida’s minimum-wage rate is increasing to $8.46 an hour and at least $5.44 an hour for tipped employees. The new minimum wage is an increase from $8.25 per hour. In 2017, the rate was $8.10. Employees who are not paid the minimum wage may bring a civil action against their employer or any person violating Florida’s minimum wage law.
- Hospitals will be required to post prices online
- Hospitals will be required to post a list of their standard patient charges online under a new federal rule. The move is meant to increase price transparency and encourage patients to become better-educated decision makers when it comes to their own care, according to Seema Verma, head of the Centers for Medicare and Medicaid Services.
- Hospitals are already required to have a public list of their standard charges, but the latest change would make hospitals put that information online in a machine-readable format that can be easily processed by computers.
- Hillsborough County sales tax hike
- Hillsborough County voters approved a 1.5 percent sales tax hike.
- A half-cent for every dollar will go to Hillsborough County Public Schools for property improvements. The other one cent will go to improving public transit, roads, and bridges.
- Federal alimony law
- Starting New Year’s Day, alimony will not be a tax deduction for payers and will not be taxable income for recipients. The new law affects cases going forward and not orders already in place.
- Before Jan. 1, 2019, alimony was taxable to the recipient and deductible for tax purposes by the payer.
- Amendment Tax Laws
- Amendment 2: Limit property tax
- This proposal permanently places a 10-percent cap on the annual increase of non-homestead property tax assessments. This amendment doesn’t change current law, but it puts protections in place so exorbitant increases don’t impact renters, business owners, and consumers.
- Amendment 4: Felon voting rights
- Nearly 1.5 million former felons in Florida will no longer be permanently disenfranchised. With the passage of Constitutional Amendment 4, former felons, excluding those convicted of murder and sexual offenses, will have their voting rights restored following the completion of their sentences.
- Before the amendment passed, former felons had to wait at least five years after completing their sentences, then ask the Florida Clemency Board to restore their rights.
- Amendment 5: Supermajority/taxes
- This amendment requires a two-thirds vote in the Florida House and Senate — instead of a simple majority — to raise taxes. It was placed on the ballot by the Legislature with the intent to make it more difficult for lawmakers to raise taxes.
- This amendment does not apply to local taxes that might be raised in specific counties, cities or other taxing districts, such as school or fire districts. The amendment also stops a typical legislative technique of adding tax and fee increases onto other legislative bills.
- Amendment 2: Limit property tax
Contact Us Today For Payroll Services
The professionals at SmarTax want to ensure that you have all the information you need going into tax season this year. It is essential to be aware of all tax laws as they may affect you. For further information call or contact us today, Pembroke Pines. We are experts in payroll services.