Florida Accountants with expertise in Property Tax in Florida, Florida Sales and Use Tax and Federal Energy Tax Credits. Serving Orlando, Miami, Boca Raton, Tampa and Fort Lauderdale.
Whether you run a large company or a small start up, you know the value of a dollar. It takes smart financial decisions to run any kind of business these days. If you feel a bit overwhelmed with the prospect of keeping the books for your company, you can get the expert help you need from a Florida Accounting Firm. These organizations are staffed with accountants who specialize in helping businesses and individuals make smart financial decisions.
How Can an Orlando Accounting Firm Help Your Business? There are tax laws that can benefit your company, but you have to know the details to find out which ones your business is eligible for. Since running a business is a full time job (and then some), you probably don't have the time, energy or resources to take a course in accounting to learn all of the intricacies of Florida's tax laws. Working with a top Florida accounting firm gives you the freedom to run your business without having to worry about all of the tax laws. Florida accountants can help you to find the right credits and position your company to be in a place to take advantage of them.
There's a lot for you to do to keep your company growing. Staying on top of the finances can be a real energy draining activity. Working with the best Orlando accounting firm is one way that you can set your company up to get the best financial advice and services. When your finances are in the hands of the pros, you have a lot less to worry about when it comes to running your business.
You're probably aware that there are lots of tax credits available, but may not be sure how you can get in on some of this money saving. A Orlando CPA with a thorough understanding of tax laws and financial principles can help you to learn about tax credits that you may be eligible for. Green tax credits are a way that you can save money on the taxes you pay by taking steps to lessen your environmental footprint. You get the benefit of taking positive action for the environment and the added bonus of saving money. What else could you ask for?
Who's Eligible for these Tax Credits? Of course, simply recycling an aluminum can every once in a while is not going to put you in position to take advantage of these tax credits. You need to take certain actions and have the help of an experienced Florida CPA, if you want to learn and take action on these green tax credits.
Here are some of the things you can do that may make you eligible for some environmentally friendly money savers.
- Investing in a car that uses alternative sources of fuel. If you have a hydrogen powered car, you may be eligible for this tax credit.
- Using solar power alternatives. If you have solar panels that you use to run household appliances, you can be compensated by this tax credit.
Only an experienced Florida accountant can give you all the details about your eligibility for these valuable money saving tax credits. You don't have to live a fully "green" lifestyle; simply taking a few steps and having professional help on your side can set you up to get the most from these valuable tax credits.
It's a common misconception that everyday people don't need the services of an accountant. After all, aren't accountants professionals with finances who can only really benefit the wealthy? Of course, this isn't true. In fact, nearly everyone can use some professional help with their finances. So often, the bottom line gets overlooked and people wonder why their money situation is a mess. With the guidance of a Florida accountant, it's easier to stay on track and save money for the future.
Here are just a few ways that hiring an accountant can make a difference for your finances.
Expert Tax Help When tax time rolls around the country breathes a collective sigh of frustration. Lots of people, intimidated by the idea of preparing their own taxes, turn to software programs or amateur help. An accountant knows the tax laws inside and out. These financial pros can help you to save money and avoid being penalized by the IRS.
Saving for the Future Putting your money into the right investments can be a great way to prepare for the future. However, you can't effectively invest unless your financial house is in order. If in Orlando area, an Orlando accountant can help you to find the places in your budget where you can save money for future investments, and advise you on how the different investment laws work.
Reduce Stress People everywhere are stressed about money issues. When you trust a Florida accountant with your finances, you are getting guidance and help that most people aren't privy to. Knowing that this area of your life is in balance, is a huge stress reliever. Image via Wikipedia An accountant can be the best investment you make for your financial health.
Property tax, which is sometimes referred to as real estate tax, is a bill that arrives in your mailbox every year. Whether you are in Florida or in New York, each state requires every homeowner to pay property or real estate taxes to the government. This is also true for almost everywhere in the world where you can own your own home.
According to Florida law, the county property appraiser is to determine the assessed value of each property on the basis of its market value on January first of each year. But a lot of people would like to know how these taxes are computed. What is the formula used by the property appraiser in determining Florida Property Taxes?
In the website of the Florida Department of Revenue, the formula used for determining property taxes is:
“Just Value” (market value) less “Assessment Limitations” (e.g. Save Our Homes) is equal to the “Assessed Value.” The “Assessed
Value” less “Applicable Exemptions” (e.g. Homestead) equals the “Taxable Value.” The “Taxable Value” multiplied to the “Millage
Rate” is equal to the “Total Tax Liability” or the Total Property Tax, in this case, the total Florida Property Taxes.
January 1 is the date of assessment. From January 1 to April 1, owners of eligible tangible personal property must complete and file a return with the property appraiser. From January 1 to March, property owners eligible for homestead, widow, widower and disability exemptions or agricultural classification must submit a completed application to the property appraiser.
April 1 is the deadline for filing tangible personal property tax return (Form DR-405A) with no penalties applied. During August, the property appraiser mails the Notice of Proposed Property Tax (Truth in Millage). In September, property owners choosing to appeal their values with the value adjustment board must file a petition (DR-486) with the clerk of the court within 25 days of the Notice of Proposed Taxes (see our Forms page).
During September/ October, property owners may provide input on taxing authorities’ public hearings to adopt a tentative budget and millage rate. On October/ November, taxing authorities hold a hearing to adopt a final budget and millage rate. Finally, during November, tax bills are sent by the tax collector to each property owner. By the end of the year, everyone in Florida must pay their property taxes.
If you are to sell a product or offer a service in the state of Florida, the first thing you have to do is to register as a sales dealer. This shows your acknowledgement to represent the state as an agent to collect Florida sales and use tax on each and every taxable transaction. What a lot of people forget however is the fact that this is also a USE tax. Basically what this means is that you owe the government money for any and all tangible equipment, such as computers, that you bring into the state untaxed. This also includes items bought off the internet and shipped over to you. Below are the top ten filling errors that you should avoid when it comes to this issue.
1. None filling of zero return – even if you have no returns, you still have to file it. 2. Filling in late – if you are able to file on time or earlier, then you can get up to $30 allowance. 3. Forgetting to file on each collection period – this will cost you money 4. Wrong computation of numbers 5. Forgetting to compute for penalties 6. Not completing the front and back of the form 7. Do not include gross sales with collected taxes 8. Incorrect calculation or computation of collection allowance 9. Placing transactions on the wrong lines 10. Forgetting to compute penalties and interests as well
When it comes to Florida sales and use tax, these are some of the most common mistakes. This can be avoided by simply keeping your head clear and paying complete attention to what you are doing when completing this task. On the other hand, you can also hire an expert to do it for you as well so that you can attend to other matters regarding your business. Image via Wikipedia
Let’s face it, paying taxes is not the most favorite chores for any person. Wherever you live, understanding the laws and paying the money you owe the government can be troublesome and time consuming. Not to mention the fact that it can bring about major headaches for you. Sometimes these things can get very complicated especially if you haven’t lived there for a long time. Each state has its own tax laws. The laws in Florida are different compared to wherever you may have come from. So it doesn’t matter if you have been doing all your taxing chores by yourself in the past, if you have recently moved into the state then a Florida CPA can help you with your obligation. Image via Wikipedia Businessmen in the State of Florida will especially appreciate these professionals. As a business owner, you would have a lot of important matters to attend to and not just this task. If you have a professional on board that you know you can trust, then you can leave all your filling to him or her and concentrate on the other aspects of your business.
Now, why should you go for a Florida CPA rather than a regular accountant? Well, the main reason is that a CPA generally knows a lot more than a regular accountant. This is because the former has all the necessary licenses and has passed the exams set forth by the state. In other words, you can be sure that a Certified Public Accountant knows what he or she is doing. Because of this, they can do other tasks that the latter is not allowed to do so such as auditing and other tax work. You can get everything that you need from someone trained and passed with regards to tax laws than a person who has no professional license.
Image via Wikipedia 
