Financial Focus

New IRS publication requires employee expenses be submitted within 60 days for reimbursement

Published: July 12, 2018 8:30 am

Beginning July 1, UF is standardizing the expense reimbursement process to address the timeliness of reimbursements and match the requirements detailed by IRS Publication 463 for all employee reimbursements.

Financial and HR reminders for the closing of the fiscal year

Published: June 7, 2018 8:20 am

During the month of June, departments throughout campus are preparing for the fiscal year closing.

Office Depot Savings Program for faculty and staff

Published: June 7, 2018 7:05 am

UF faculty, staff and students are eligible for discounts on personal purchases with Office Depot as well as other suppliers.

Thinking about retirement? FLARE illuminates the journey to financial security

Published: March 7, 2018 7:50 am

FLARE offers retirement resources, such as retirement and education planning courses, to help UF employees find the balance between making ends meet today and a comfortable future.

Be sure to watch your mail for important tax reporting documents

Published: February 6, 2018 8:50 am

In addition to filing your W-2, the IRS requires reporting of health insurance coverage information for the 2017 federal income tax reporting year.

Decrease in sales tax for real property rentals, effective Jan. 1

Published: December 6, 2017 7:52 am

Effective Jan. 1, the state sales tax rate imposed under section 212.031, Florida Statutes, on the total rent charged for renting, leasing, letting or granting a license to use real property will decrease from 6.0 percent to 5.8 percent.

Social Security taxable wage base revised for 2018

Published: December 6, 2017 7:52 am

The 2018 Social Security wage base increases to $128,400 (up $1,200 from the 2017 wage base).

Did you participate in the Employee Education Program during 2017?

Published: October 4, 2017 8:15 am

Per IRS regulations, only the first $5,250 of the tuition waiver provided by the Employee Education Program benefit is non-taxable.  Any amount in excess of $5,250 is taxable income to the employee and must be taxed and included on the employee’s W-2 for the year.

Change in tax method for faculty and staff recognition programs introduced

Published: September 7, 2017 8:05 am

Effective Aug. 11, the way employees are taxed for awards (earnings code AWD) was changed to the supplemental tax rate set by the IRS, currently 25 percent for federal withholding.

Annual training program addresses university-generated “unrelated business income”

Published: August 2, 2017 8:15 am

Does your department sell goods or advertising, provide services, and/or rent equipment or space to students, alumni or the public? These are some of the most common activities that can generate unrelated business income for UF.   Conducting these activities may require annual reporting and potential taxation of the income generated.

Subscribe to Financial Focus

Have a story to share with UF at Work?

Submit it here

Connect with UF at Work

Mailing Address

PO Box 115006
Gainesville, FL 32611

Physical Address

903 West University Avenue
Gainesville, FL 32611