Tax Benefits for Homeowners: Exploring Deductions and Credits in Florida While headlines may focus on rising interest rates and housing costs, homeownership in Florida remains a sound long-term investment. Owning a home offers stability, potential for appreciation, and a variety of tax benefits that can ease the financial burden. At Brock CPA, we’re here to help Florida homeowners navigate the ever-changing tax landscape and maximize their deductions and credits in 2024.   Why Homeownership Makes Sense in Florida Despite recent market fluctuations, Florida’s housing market exhibits resil ..read more

What are the Differences Between the 2023 and 2024 Tax Brackets? Tax season can be a daunting time, and navigating the ever-changing world of tax brackets and deductions can feel like deciphering an ancient code. For those filing their 2023 taxes this year (due April 15, 2024!), and planning for 2024 filings, understanding the adjustments made for inflation is crucial. So, take a deep breath, grab your coffee, and let’s explore the key differences between the 2023 and 2024 tax brackets. Hold My Bracket: Tax Rates Remain the Same, But Thresholds Shift First things first: the good news! The tax ..read more

As we usher in a new year, it’s the perfect time to think about our financial goals and set actionable resolutions for a more secure and prosperous future. Whether you’re an individual or a business owner in Jacksonville, Florida, these practical financial resolutions can help you navigate the complexities of the fiscal landscape in 2024. 1. Streamline Your Budget for Increased Savings Resolution: Revamp Your Personal and Business Budgets Begin the year by reviewing your spending habits and identifying areas where you can cut unnecessary expenses. Allocate those savings towards an emergency fu ..read more

Tax-Smart Charitable Giving in Northeast Florida As the Thanksgiving holiday approaches and the end of the year draws near, many individuals and businesses in Northeast Florida are contemplating ways to make a positive impact on their community through tax-smart charitable giving. This strategic approach allows donors to not only contribute to causes close to their hearts but also to optimize their own financial benefits. In this article, we’ll touch on a couple of quick points about tax-smart charitable giving, shedding light on deductions for charitable donations, the advantages of donating ..read more

The Types of Year-End Bonuses Before we explore tax implications, it’s important to recognize the different types of year-end bonuses that Jacksonville employers may want to consider: Cash Bonuses: These are the most common form of bonuses and are typically subject to withholding taxes. Employees usually receive the net amount after tax deductions. Gift Cards or Non-Cash Gifts: Non-monetary bonuses like gift cards or gifts can be a tax-efficient way to reward employees. These are often considered de minimis fringe benefits and can be tax-free for both employers and employees if their value is ..read more

Fear not, tax season is not among us – yet – but wouldn’t you rather be armed with the knowledge and preparation to tackle it head-on come January? Taking your time and preparing as early as possible can save you a ton of headaches and alleviate that rushed feeling to submit your taxes by April 15th. Less room for error and, a bigger refund on your end. Let’s get into it! Gather Your Tax Documents First things first, you’ll need to gather the social security numbers of you and your dependents as well as the W-2 that you’ll receive from your place of work by January 31st. Keeping this informati ..read more

Brock CPA Congratulates Tatiana Tonu! At Brock CPA, we believe in supporting our team members, helping them develop their expertise, and achieving their professional goals. To that end, we would like to congratulate Senior Staff Accountant, Tatiana Tonu for recently passing her CPA Exam and recently being officially licensed by the state of Florida!   Tatiana is a 2019 graduate of the University of New Orleans with a BS in Accounting. Given her 4.0 average in college, it was no surprise to any of us here at Brock CPA that she passed all four sections of her CPA exam on the first try, a f ..read more

If you run an e-commerce business in Florida, understanding the sales tax requirements is crucial to ensure you are compliant with the law. Florida has a unique set of rules and regulations that govern how sales tax should be collected, reported, and remitted. Understanding these requirements is essential for e-commerce businesses to avoid penalties and fines. As a trusted local CPA firm based in Jacksonville, FL for many years, our team at Brock CPA knows from experience that diligent, forward-thinking tax planning, preparation and compliance is the best possible way to limit your present and ..read more

It is with great excitement to inform you that Brock CPA will be relocating to the following address in July! 501 Riverside Avenue, Suite 503, Jacksonville, FL 32202 Our new office will provide room for our team to continue to grow and will offer easier access to stop in for a meeting with an attached dedicated parking garage. We are planning to be officially moved out of our current office by Sunday, April 30th, and are hoping to move into our new office space in July. In the meantime, we will be working virtually, but are happy to come to meet at your office or at a number of businesses that ..read more

Remote work has been on the rise for the past decade and the COVID-19 pandemic significantly accelerated this trend. With remote work more common, small businesses are beginning to face new tax challenges. In this blog post, we’ll explore the impact of remote work on small business taxes.   First, it’s important to understand the definition of remote work. Remote work refers to work that is done outside of a traditional office setting, usually from home or a location outside of the employer’s physical office. Remote work can be full-time or part-time and can be done by employees or indep ..read more