Deductibility of Dues and Contributions
Payments, contributions or gifts to the Florida Institute of CPAs or the Florida CPA/PAC are not deductible as charitable contributions for federal income tax purposes. However, FICPA dues payments may be deductible as an ordinary and necessary business expense subject to restrictions imposed as a result of lobbying activities. The FICPA estimates that 5% of your dues are not deductible because of the FICPA's lobbying activities on behalf of its members.
*IMPORTANT NOTE: If your dues are paid by a public agency as defined in Section 119.011(2), Florida Statutes, your membership records may be open to inspections by the agency. Section 119.01(3), Florida Statutes, states: If public funds are expended by an agency in payment of dues or membership contributions for any person, corporation, foundation, trust, association, group, or other organization, all the financial, business, and membership records of that person, corporation, foundation, trust, association, group, or other organization which pertain to the public agency are public records and subject to the provisions of s. 119.07.