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Month: May 2023

Florida consumers get sales-tax ‘holidays,’ businesses get tax cuts

Florida consumers get sales-tax ‘holidays,’ businesses get tax cuts

TALLAHASSEE — With two sales-tax “holiday” periods poised to start this weekend, Gov. Ron DeSantis on Thursday signed a nearly $1.3 billion package of tax breaks.

Lawmakers unanimously passed the package (HB 7053) on May 5. It includes a series of tax holidays, reducing a commercial-lease tax and providing permanent sales-tax exemptions for such things as diapers and incontinence products and baby and toddler items.

DeSantis did not hold a public event to sign the bill the day after he announced his run for president.

The governor issued a statement that said, “we are ensuring that our state’s economic success gets passed on to the people that made it possible. I will continue to push smart fiscal policy that will allow Florida families to keep more of their hard-earned money in their pockets. Stronger families make a stronger Florida.”

DeSantis signed the bill two days before the start of a disaster-preparedness holiday that will allow shoppers to avoid paying sales taxes on a variety of storm supplies and household goods. The holiday, which will last through June 9, is geared around the June 1 start of hurricane season. read more

6 AAPI financial influencers to follow in 2023

6 AAPI financial influencers to follow in 2023

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A 2021 study from Pew Research Center found that the median annual income of Asian households in the U.S. was nearly 39% higher than the rest of the country.

But lived experiences are much more nuanced.

“In my experience, managing money doesn’t come up often in a typical Asian American household,” says financial influencer Max Do. “You assume it’s being taken care of, and it doesn’t come up until there is a problem.”

That same study noted that income and poverty rates vary widely among the many ethnicities that fall under the umbrella term Asian Americans and Pacific Islanders.

Vivian Tu, another financial influencer, says her family loves to talk about money. Their experiences highlight just how varied the spectrum of financial exposure is within Asian American and Pacific Islander households, another reminder that the AAPI community isn’t monolithic. read more