As we slither into the Year of the Wood Snake (which began on January 29th 2025, according to the Chinese calendar) we see how the Wood Snake’s strategy and intuition can play a role in navigating the new laws taking effect this year. Keeping up with new laws each year can feel a bit like reading a legal textbook in Chinese – it is confusing, time-consuming, and sometimes you wonder if it is necessary. We are here to keep you updated with the laws that affect YOU! So, Florida residents: grab your cortadito, maccha latte, or nitro cold brew, and let us dive into the new rules of the game!
FLORIDA SPECIFIC LAWS
Number 1: CS/CS/SB 556 — Protection of Specified Adults
This law combats financial abuse of adults, particularly those 65 or older or vulnerable. The bill allows financial institutions to delay disbursements and transactions from an account when fraud is suspected. This applies in instances where:
- The financial institution believes financial exploitation of the specified adult has occurred, is occurring, has been attempted, or may occur in relation to the transaction.
- The institution must promptly review the facts that led to the belief of financial exploitation.
- Within three business days of the delay, the institution must provide written notice of the reason for the delay to all parties authorized to transact business on the account.
- Disbursement delays last 15 business days, extendable by 30 days, or adjusted by a court.
- The institution must retain records related to delayed transactions for at least five years.
Unfortunately, Florida state research shows that up to five million older Americans experience abuse each year, with financial losses amounting to around $36.5 billion.
Number 2: CS/HB 135: Voter Registration Applications
Beginning in 2025, Florida residents wishing to change their political party affiliation must submit a written request. The bill revises voter-registration duties of the Florida Department of Highway Safety and Motor Vehicles. This legislation was prompted by a software issue during driver’s license renewals that mistakenly reset some voters’ party affiliations to “No Party Affiliation” (NPA), a problem that has persisted for 7-8 years.
Number 3: CS/CS/HB 3 — Online Protections for Minors
The bill mandates that social media platforms prohibit minors under 14 from entering into contracts to create accounts. Minors aged 14 or 15 may become account holders only with parental or guardian consent. Platforms are regulated under the bill if they:
- Allow users to upload or view content from others.
- Meet specific daily active user thresholds.
- Use algorithms that analyze user data to recommend content.
- Include features deemed potentially addictive.
Number 4: SB 184: Impeding, Threatening, or Harassing First Responders
Affectionally coined as the Halo Law, this new law creates a 25-foot buffer zone around first responders. Anyone who ignores a first responder’s verbal warning to “not approach” could face a $500 fine and up to 60 days in jail. The law is designed to safeguard first responders from harassment and potential nuisances while on duty and any violation of this law is treated as a second-degree misdemeanor.
The bill was proposed by House Rep. Alex Rizo (R-Hialeah), who initially drafted the concept on a napkin. “There’s a little stick figure in the middle, surrounded by a circle,” Rizo explained. “It looks like a big halo.”
Number 5: HB 7063: Anti-human Trafficking (aka Florida Strippers’ Law)
In an attempt to combat human trafficking, Governor Ron DeSantis signed a law that took effect on July 1, 2024, banning anyone under the age of 21 from working in adult entertainment establishments. A few weeks later, a 19-year-old stripper sued the state of Florida for violating her First Amendment rights after she lost her job. The exotic entertainer claimed that the State didn’t sufficiently show a connection between human trafficking and adult-entertainment establishments. Because the stripper is suing under a First Amendment argument, the case is in Federal Court. This will likely have multiple appeals, and we cannot wait to hear how it plays out.
While most of the attention about the law focuses on strippers, it also prevents adult-entertainment establishments from employing ANY employees under the age of 21. The law imposes a second-degree felony charge for people who employ or allow dancers under 21 to perform nude in their establishments.
Now, you might ask yourself, what are the rules across the Country? Twenty-One states have these 21-year-old stripper laws. Most of the states, 41 to be exact, require adult establishment employees and strippers to be 18 years old.
FEDERAL LAWS
Number 1: Higher Contribution Limits to Retirement Accounts
The IRS has announced higher limits for workplace retirement accounts in 2025. Specifically, the annual contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan is increased to $23,500, up from $23,000 in 2024. The limit on annual contributions to an IRA remains $7,000.
Catch-Up Contributions: Individuals aged 60–63 can contribute an additional $11,250 to their 401(k), while those over 50 are allowed an extra $7,500.
Number 2: Increased Annual Tax Exemptions & Deductions
- Standard Deductions: For single taxpayers and married individuals filing separately for tax year 2025, the standard deduction rises to $15,000 for 2025, an increase of $400 from 2024. For married couples filing jointly, the standard deduction rises to $30,000, an increase of $800 from tax year 2024. For heads of households, the standard deduction will be $22,500 for tax year 2025, an increase of $600 from the amount for tax year 2024.
- Gift Tax: In 2025, the annual gift tax exclusion increased to $19,000 per individual, rising from $18,000 for calendar year 2024.
- Estate Tax: Estates of decedents who die during 2025 have a basic exclusion amount of $13,990,000, increased from $13,610,000 for estates of decedents who died in 2024.
Number 3: Higher Limits for Charitable Distributions
Are you 70½ or older? If so, you can now transfer up to $108,000 directly from your traditional IRA to a qualified charity in 2025 (up from $105,000 in 2024). These Qualified Charitable Distributions (QCDs) count toward your Required Minimum Distribution (RMD) but are not subject to taxes.
Bonus Round:
With the sunset of the Tax Cuts and Jobs Act of 2017 (TCJA) set to expire on December 31, 2025, you may see the current high estate tax exemption limits slashed in half! Meaning that unless new legislation is enacted, the lifetime exemption will decrease to approximately $7 million per individual. This reduction will subject even mid-sized estates to substantial tax liability, making proactive estate planning crucial. There are legal methods we employ to ensure your family receives their inheritance with as little tax consequence as possible.
In 1789, Benjamin Franklin famously said that the newly adopted United States Constitution “has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” For a free legal consultation to help you start planning for the future, contact OC Estate and Elder Law at (954) 251-0332 or info@ocestatelawyers.com. Our attorneys are fluent in English, Spanish and Russian.
