Things To Do In SW Florida

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks are wavering Tuesday in a rare quiet day for financial markets, for now at least.

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The S&P 500 was mostly unchanged in afternoon trading, though it’s been prone to huge swings not just day to day but also hour to hour. The day before, it went from a gain of 1.8% to a slight loss back to a gain as it struggled to keep up with shifts in President Donald Trump’s trade war, which economists warn could cause a global recession unless it’s scaled back.

The Dow Jones Industrial Average was down 11 points, or less than 0.1%, as of 1:40 p.m. Eastern time, and the Nasdaq composite was also mostly unchanged. read more

The Tavares City Council is set to vote this month on a proposal to raise the city’s municipal impact fees for the first time in nearly two decades to help pay the costs of its rapid growth.

But the new rates would add thousands more to the cost of new homes and businesses.

The fees would be increased 233%, from $1,058 to $3,512 per new single-family home, according to a report in GrowthSpotter. The fees for apartments and non-residential uses would spike even more, in many cases by more than 300%.

Impact fees are one-time charges on new construction to pay for growth-related capital improvements. While Lake County assesses impact fees on new development for transportation and schools, cities in the county levy such fees to pay for municipal services such as police, fire and parks.

The City Council scheduled public hearings on the fee hikes for its next two meetings, with the first on Wednesday, after completing two workshops to review the impact fee study done by Raftelis, a consulting firm in Maitland. The study found the need for the increase based on “extraordinary circumstances” of population growth in the city and increased infrastructure costs to accommodate the growth. read more

By JOSH BOAK and MICHAEL LIEDTKE, Associated Press

WASHINGTON (AP) — President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains.

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“I’m looking at something to help some of the car companies with it,” Trump told reporters gathered in the Oval Office. The Republican president said automakers needed time to relocate production from Canada, Mexico and other places, “And they need a little bit of time because they’re going to make them here, but they need a little bit of time. So I’m talking about things like that.” read more

By CORA LEWIS

NEW YORK (AP) — If your life has been upended by a wildfire, hurricane, flood, tornado, or another disaster this past year, the IRS recognizes that you may need more time to file your taxes and grants you an automatic extension beyond the normal filing deadline, which is Tuesday.

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You’re also permitted to write off a certain amount of loss due to disaster, reducing your tax burden. That could be damaged property, lost income, or small business losses.

“It can feel really daunting and overwhelming, after you’ve already lost your home or your vehicle, to tackle that project (of loss write-off). It can take time and a lot of energy,” said Alison Flores, manager at the Tax Institute for H&R Block. “We see people be hesitant to tackle that, and so they leave that loss on the table.” read more

For many tax filers, state and federal income taxes are due Tuesday.

If you are done working on your 2024 taxes, congratulations.

If you have not, the last-minute tax filing tips below, from one San Diego finance professional and the Internal Revenue Service, could make the coming days a little bit less of a drag.

Insights from a finance pro

Levi Anderson, a financial planning manager with the San Diego office EP Wealth Advisors, a fee-only, fiduciary firm, shared some insights and reminders for anyone still working on their taxes, whether alone or with a tax professional.

1. If you’re filing an extension, you still have to pay your tax balance by Tuesday’s tax deadline, Anderson said. “If you are filing an extension, be aware that taxes are due on the original tax deadline although you are filing an extension,” he said. “Although the penalty for ‘Failure-to-Pay’ is less than the ‘Failure-to-File’ penalty, the penalty and interest can add up if you wait until later to pay your taxes you owe.”
2. It’s not too late to contribute to your 2024 retirement accounts — even though we are four months into 2025. Those contributions could reduce your taxable income. “Making a last-minute contribution to these accounts still can count for the 2024 tax year until April 15th. Just be sure you note it as a 2024 contribution when you make it,” Anderson said.

IRS resources for last-minute filers

For last-minute filers looking for free filing resources, qualified taxpayers can still use IRS Direct File and IRS Free File. “Additionally, anyone can use IRS Free File to submit an extension of time to file regardless of their income,” the agency says on its website. Link: irs.gov/filing/file-an-extension-through-irs-free-file

The IRS has a searchable FAQ page with links to almost 60 questions and answers, including “Should I file an amended return?” and “How do I correct an excess salary deferral to my 401(k)?” and a series of questions about payments and distributions dubbed “Is it taxable?” Link: irs.gov/help/ita read more