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File my taxes
Florida is known for being business-friendly. There’s no personal income tax and the state has a thriving market for startups and small companies. But that doesn’t mean business owners can ignore their tax responsibilities. Whether you’re opening a coffee shop in Wynwood or running a consulting firm in Downtown Miami, understanding business tax preparation is essential to keep your operations legal and your profits strong.
Florida doesn’t tax individuals on income, but it does have a corporate income tax for businesses. If you’ve registered as a C-Corp, you’ll pay 5.5% on your taxable income. If you’re a pass-through entity like an LLC or S-Corp, your business earnings flow through to your personal return. That means tax planning isn’t just a once-a-year task—it’s a constant strategy.
Your tax obligations change based on whether you’re a sole proprietor, partnership, LLC, S-Corp, or C-Corp. Each has unique filing rules and deductions. For example, an LLC in Miami may file using IRS Form 1065, while a corporation files Form 1120. Picking the wrong form or status could lead to IRS problems or lost money.
Good bookkeeping is more than just balancing numbers. It helps ensure you’re ready when tax time comes. Keep track of:
Many entrepreneurs in South Florida use tools like QuickBooks or hire local bookkeepers to stay on top of daily financial tracking.
In Miami and other parts of Florida, these deductions are often missed:
Using all available deductions can help reduce your total tax bill and boost your refund potential.
Florida has a 6% state sales tax, but some counties—including Miami-Dade—add their own surtax. If your business sells products or services that are taxable, you must register with the Florida Department of Revenue and collect the correct amount. Missing these steps can lead to audits or penalties.
National tax chains often miss local tax breaks and regional factors. A local Miami tax professional knows what businesses here typically face—like hurricane-related insurance write-offs, industry-specific credits, and issues with seasonal income.
Working with a business tax preparation expert at The Tax Team ensures your filings reflect the realities of running a business in South Florida.
If you operate remotely or serve clients outside Florida, your tax needs grow more complex. We regularly help Miami business owners navigate income sourcing, nexus laws, and employee tax issues for out-of-state or hybrid teams.
Many small business owners forget about estimated taxes. If your business is profitable, you’re required to pay taxes quarterly. Missing these payments leads to penalties and interest.
This is one of the fastest ways to get in trouble with the IRS. Always keep separate bank accounts and credit cards. Pay yourself a salary or distribution—don’t mix business spending with personal groceries or vacation costs.
Tax rules change every year. Whether it’s adjustments to depreciation rules or credits for green energy investments, staying informed can save you money. At The Tax Team, we monitor tax law updates and guide our clients through changes.
Planning should start at the beginning of the year—not in April. Smart business owners in Miami meet with their tax advisors in Q1 and Q3 to adjust plans, review income, and update estimated payments. This proactive approach reduces tax-time stress and increases accuracy.
Running a business is hard enough—your taxes shouldn’t make it harder. Let our experts help you file the right way. With years of experience working with Florida entrepreneurs, we provide guidance that’s built around local needs and your unique business model. Our business tax preparation services are designed to simplify your workload and maximize your returns.
Yes, depending on the structure. C-Corps pay state income tax, while LLCs and S-Corps report income on personal returns.
Currently, the rate is 5.5% for C-Corporations, though this can change based on state budget adjustments.
If you use a part of your home exclusively and regularly for your business, then yes—it’s a common deduction.
It depends on your structure. You may need federal forms like 1065 or 1120, and a DR-1 for Florida sales tax registration.
For simple businesses, DIY can work. But if you have employees, multiple services, or product sales, a professional helps reduce errors and catch extra savings.
You still need to file. Even if you didn’t earn income, filing ensures you're compliant and may help claim losses later.
