When Florida builders sign a construction contract, they enter a legally binding agreement with the owner that a certain amount of compensation will be received for the executed project. There may also specifications for the manner in which the compensation will be disbursed. While there are many types of construction contracts, construction professionals tend to use certain types more than others.
There’s a lot on the line when you’re looking to start a new business. Not only is there a lot of money at play, there is also the emotional investment that you’ve made into creating a new business.
Commercial real estate owners in Florida may face a significant increase in their property taxes in 2019. The property taxes will increase unless 60 percent of voters in the state agree to permanently extend a cap on the taxes assessed on non-homesteaded property. The issue will be settled via Amendment 2 on the November ballot.
In Fort Walton Beach, development has been approved on the Florida city's waterfront, meant to promote tourism, entertainment and a range of other activities. The Fort Walton Landing received a grant of $1.6 million from the state environmental protection department to pursue upgrades to the park. Among other changes, the redevelopment will include the renewal of 875 feet of boardwalk that borders the Santa Rosa Sound as well as benches and trash receptacles for the walk. The renovation will also include lighting and sidewalks that comply with the requirements of the Americans with Disabilities Act.
Construction defect lawsuits have increased in recent years due to changes in the law and advances in computer modeling which do not always translate seamlessly from design to construction. However, you can manage the risk of construction defect litigation through careful sequencing and coordination of work, and use of solid documentation procedures.
Business owners in Florida may wonder how best to plan for retirement and the future, given that members of the baby boom generation own over 12 million private businesses across the country. As members of this generation reach retirement age and above, this can bring to mind thoughts of how to transition their business for the maximum benefit for themselves and their families. Of course, even retirement itself can be a difficult consideration for many entrepreneurs who have built their companies from scratch.
With the baby boomer generation at or near retirement age, the time to consider a business succession plan is here. Estate planning for business owners in Florida is a more complex matter than for a lifelong employee or wage earner because unique issues must be taken into consideration.