October

Newsletter

Volume 95

October is here, bringing "cooler" days and an opportunity to look ahead. With the end of the year approaching, now is a great time to review your tax and financial picture and take care of important planning items before the holiday season arrives.


A Reminder About Secure Document Submission

To help protect your sensitive information, TCS & Associates accepts documents through our secure document portal. For your protection, we are unable to process documents submitted through shared links, Google Drive, Dropbox, OneDrive, or similar file-sharing services.


Please submit documents through one of our secure platforms:

  • SafeSend Exchange: Use the secure link to upload requested documents.
  • Karbon for Clients: Clients can securely upload documents, respond to information requests, and exchange files with the TCS team through the client portal.


Using these secure submission methods helps us keep your personal and financial information protected while ensuring our team can access the documents we need.


Florida Minimum Wage Increases to $15

Florida’s minimum wage increased to $15.00 per hour effective September 30, 2026. The minimum direct wage for eligible tipped employees is also increasing to $11.98 per hour, plus tips. Employers should update payroll systems and required workplace postings to reflect the new rates.


This increase completes Florida’s scheduled gradual increase to a $15 minimum wage. Beginning in 2027, the state minimum wage will be adjusted annually for inflation.


Florida Department of Revenue - New E-Filing & Payment System

Effective August 24, 2026, the Florida Department of Revenue’s reemployment tax system has moved to a new eFile and Pay system. Agents, employers, and employee leasing companies will use the new system to electronically file reemployment tax returns and make payments. Current user IDs and passwords, as well as alternate credentials, can still be used to access the new system.

Hiring In-Home Care: What to Consider



Thinking about hiring in-home care for yourself or a family member? The tax and recordkeeping responsibilities can vary depending on whether you hire a caregiver directly, work with a self-employed caregiver, or use an agency.


For 2026, directly hiring a household employee may trigger Social Security, Medicare, and unemployment tax requirements once certain payment thresholds are reached. Caregivers who operate their own businesses generally handle their own taxes, while agencies typically manage payroll and reporting.




Read More...

Care conception_ holding baby. Couple is with daughter_ newborn baby and cradle are having a walk.

Treasury, IRS Provide Guidance on Paid Family & Medical Leave Act


New guidance from the Treasury Department and IRS provides employers with additional clarity on the expanded Paid Family and Medical Leave Tax Credit. Beginning in 2026, more employers may qualify for the credit, including those providing paid leave to certain part-time employees and employees with at least six months of service.


The credit has also been expanded to include premiums paid for qualifying paid family and medical leave insurance policies, in addition to wages paid during leave. Eligible employers may receive a general business tax credit for up to 12 weeks of paid family and medical leave.


Read More...


Important Dates

 

October

15

Individual, C-Corporations, Trust & Estate Tax Returns



Deadline to file your extended tax returns

TCS Core Value of the Month


 
 
 
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TCS & Associates CPAs | 904-347-2050 | hello@tcs-cpa.com | TCS CPAs