Things To Do In SW Florida

By DEE-ANN DURBIN, Associated Press

Thousands of Costco workers prepared to strike with a midnight deadline drawing closer Friday while the worker’s union and the company negotiated.

The Teamsters union represents 18,000 Costco workers in six states: California, Washington, Maryland, Virginia, New Jersey and New York.

It’s unclear if the strikes would close stores. Costco has 219,000 U.S. employees and 617 U.S. stores. The company said its labor agreement with the Teamsters applies to less than 10% of those stores.

By ZEKE MILLER, AAMER MADHANI and JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump said Friday he would place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Saturday, raising the specter of swift price increases for U.S. consumers even though he suggested he would try to blunt the impact on oil imports.

Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl, but he has also pledged to use tariffs to boost domestic manufacturing and raise revenues for the federal government.

“Starting tomorrow, those tariffs will be in place,” White House press secretary Karoline Leavitt told reporters earlier Friday. “These are promises made and promises kept by the president.” Speaking to reporters in the Oval Office later, Trump said there was nothing the three countries could do to prevent the tariffs from going into force Saturday. read more

By Cara Hartley

Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might not have started doing business yet, or an older LLC might have become inactive without being formally dissolved.

However, even if an inactive LLC has no income or expenses for a year, it might still be required to file a federal income tax return, LegalZoom reports.

Do I Need to File a Tax Return for an LLC With No Income?

LLC tax filing requirements depend on how the LLC is taxed. An LLC may be disregarded as an entity for tax purposes, or it may be taxed as a partnership or a corporation. Even if an LLC has no income, it may still be legally required to file taxes.

There are other reasons besides legal compliance to file a tax return for an LLC with no income.

For instance, filing a tax return for an LLC with no income is useful to do any of the following:

• Preserve the LLC status.
• Avoid penalties and interest charges
• Qualify for tax credits or a tax refund
• Show the IRS that you are treating your LLC as a business as opposed to a hobby

How to File Taxes for an LLC With No Income

If an LLC has no income, follow these steps to file business taxes.

Step 1: Confirm your LLC’s tax classification

The first step in filing taxes for an LLC with no income is verifying your LLC’s tax classification. By default, a single-member LLC is considered a disregarded entity, and an LLC with two or more members is treated as a partnership. To be classified as a corporation, you would have to have filed Form 8832; to be classified as an S corporation, you would need to have filed Form 2553. read more

By PAUL WISEMAN, AP Economics Writer

President Donald Trump said this week that tariffs on U.S. neighbors Canada and Mexico will arrive Saturday. The two nations are not only close geographically, but economically as well.

The business between the North American nations now exceeds China, totaling $1.8 trillion in 2023. That is far greater than the $643 billion in commerce that the U.S. did with China in that same year.

Following are just a few imported goods that could be hit first.

A ‘grenade’ lobbed into auto production

For decades, auto companies have built supply chains that cross the borders of the United States, Mexico and Canada. More than one in five of the cars and light trucks sold in the United States were built in Canada or Mexico, according to S&P Global Mobility. In 2023, the United States imported $69 billion worth of cars and light trucks from Mexico – more than any other country — and $37 billion from Canada. Another $78 billion in auto parts came from Mexico and $20 billion from Canada. The engines in Ford F-series pickups and the iconic Mustang sports coupe, for instance, come from Canada. read more

Walgreens Boots Alliance announced Thursday that it is suspending its practice of paying cash dividends to stockholders — the first time it won’t pay a quarterly dividend in 92 years.

The change comes amid struggles for the Deerfield-based retail pharmacy giant. Walgreens announced plans in October to shutter 1,200 stores over the next three years, including in Chicago. Walgreens has been cutting costs for years, including through layoffs.

Walgreens said in a news release Thursday that it was suspending quarterly dividends “as management continues to evaluate and refine its capital allocation policy consistent with the company’s broader long-term turnaround efforts.”

Before now, Walgreens Boots Alliance and its predecessor company, Walgreen Co., had paid quarterly dividends to stockholders for 368 consecutive quarters, or 92 years.

The change is aimed at improving Walgreens’ finances by reducing debt over time and improving cash flow, Walgreens said in the release. “The company’s cash needs over the next several years, including with respect to litigation and debt refinancing, were important considerations as part of the decision to suspend the dividend,” Walgreens said in the release. read more