Feb. 15, 2013
-- Lynco Financial & Tax Services, Inc., held an in-office workshop for LLC Owners who will be affected by the new LLC Workers' Compensation Law changes. On Thursday, January 24th, a State Webinar was presented by Florida Dept. of Financial Services, Bureau of Compliance, via WebEx, on the new changes scheduled to take place later this year.
Currently, All businesses (except construction)
with 4 or more employees, full-time or part-time, are required to obtain worker's compensation coverage. All construction industry businesses are required to obtain workers' compensation coverage, unless the business owners have exemptions and there are no employees. The owner is included unless he/she specifically files for an exemption. But, as of July 1st, 2013
, a new law will be put into effect that will consider owners of non-construction LLC's to be considered employees, and therefore subject to Workers' Compensation, unless they file for and receive an exemption by filing a 'Notice of Election to be Exempt'. (Form DWC 250)
"In the spirit of the season... "Tax season", you wouldn't think a Tax Firm would have the time to accommodate such a workshop. At Lynco Financial & Tax Services, Inc., we not only provide expert Tax Preparation services but also Accounting & Bookkeeping services. This webinar is one of the many workshops we offer throughout the year. As an Accounting & Tax Firm with over 30 years of experience, we not only believe in quality services with unbound professionalism, but to also educate and share information on a variety of topics with our clients, " said Lynn Schmidt, who is the owner of the firm.
Schmidt has owned Lynco Financial & Tax Services, Inc., since 1980. Her professional designations include being an Enrolled Agent (EA), and Certified Tax Coach (CTC). Schmidt is a member of the National Association of Enrolled Agents (NAEA); the American Institute of Certified Tax Coaches (AICTC), and the Professional Association of Small Business Accountants (PASBA).