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1695 Metropolitan Circle
Suite 7
Tallahassee, FL 32308

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Bill Sittig, CPA/PFS

(850) 386-2639


 

Federal & State Taxes

There are a bevy of tax forms and requirements published by the IRS. Our firm strives to stay on top of all these changes by focusing on continual training for all staff. Below is a sample of commonly used forms and schedules:

  • Individual Income Tax Returns (Form 1040) 
  • Child Tax Credit (Form 8812)
  • Itemized Deductions (Schedule A) 
  • Interest & Ordinary Dividends (Schedule B) 
  • Profit or Loss from Business-Sole Proprietors (Schedule C) 
  • Capital Gains & Losses (Schedule D) 
  • Supplemental Income & Loss (Schedule E) 
  • Profit or Loss from Farming (Schedule F) 
  • Credit for the Elderly or Disabled (Schedule R) 
  • Self-Employment Tax (Schedule SE)

Although Florida does not have an income tax, there are other tax reporting requirements that may affect you, particularly if you’re a business owner. The primary reporting for the state is re-employment tax (formerly unemployment tax); a tax levied on the first $7,000 of wages for each employee and is paid 100% by the employer. This tax has a quarterly reporting and remittance of tax due. We can set your business up to transmit the return and remittance electronically at the end of each quarter upon your instruction. Please refer to our Bookkeeping/Payroll menu item for a complete discussion on payroll related taxes.