Now we all know taxation & accounting is not a subject we all are fully familiar with or even like but it is a necessity to understand for anyone who lives or works in Florida. The rules and legislations in Florida differ greatly from the UK and even more so between different states within the USA. As in most countries they are not issues to be taken lightly as the tax authorities particularly in the USA Internal Revenue Service (IRS) have wide reaching powers which can lead to imprisonment for failure to comply. In the UK many are used to and familiar with the services and procedures of the H M Revenue & Customs

In all countries it is always advisable to be represented by a specialist. In the UK it would be a Chartered Accountant in Florida it would be a Certified Public Accountant. The roles and responsibilities are generally the same but with a different level of specialism to each country. With my own personal experience together with my clients requirements I have found it always better to work with a professional who is qualified and experienced in the UK and the USA.

Many of my clients move to Florida and have either outstanding issues or continuing a business in the UK that may have an impact on their Florida tax returns. If you don’t like forms you had better get a Certified Public Accountant as in Florida the IRS has forms about filling in forms and if you get it wrong it can be a longstanding process to get some of the forms reversed which have a tax liability on you and maybe your business.

With the age of the internet together with electronic filing of tax returns, your visits to the CPA office can be reduced. Most CPA`s work with software programs that assist you when preparing your accounts making their work easier, remember their time is your money. The most popular software programs in Florida are Quick Books and Peachtree. If you owned or managed a business in the UK you maybe familiar with a similar software program called Sage.

Timing is of the essence with Florida taxation and depending on the type of business you have you may have to file several tax returns throughout the year. Your CPA will detail with you the deadlines and full requirements.

The tax year : Is an annual accounting period for reporting income and keeping records. There are two types of tax years. A calendar year runs from January 1 until December 31. A fiscal year runs for twelve consecutive months ending on the last day of any month except December.

Employer Identification number : A number used to identify the tax account of employers, sole proprietors, corporations, partnerships, and limited liability companies. This number is required if you have employees who operate a corporation, partnership, or limited liability company or file employment, excise, alcohol, tobacco, or firearms tax returns.

Sales tax : State and local government taxes on the sale and purchase of goods.

Employment Taxes : Federal income tax withholding, Social Security tax, Medicare tax, and federal unemployment tax that an employer must submit on behalf of employees.

Excise tax : Tax paid if a business manufactures or sells certain products or uses certain kinds of equipment, facilities, or products.

Self employment tax : Social Security and Medicare tax paid by individuals who work for themselves.

Testimonials

“We were introduced to John McLoughlin by a UK based Estate agent as John was considered as an expert in the area that we were looking for a property. He assisted us finding our dream home and was able to negotiate a very good price for our long term investment. Throughout the process we found his services to be very professional and we will be using him again for our next purchase.”
Bill & Lan Edwards (UK) Purchase in Windermere Florida

“We were referred to John McLoughlin by another UK South Florida based Realtor as we wished to purchase in the Kissimmee area. Johns experience in construction & real estate quickly assisted us identify properties that were not suitable for our needs and he found us a property that matched our criteria perfectly, we would not hesitate to recommend John”
Chris & Debbie D (UK) Purchase in Kissimmee Florida

Qualifications snapshot

• Member of The National Association of Estate Agents (UK)
• Member of The Orlando Regional Realtor Association (USA)
• Member of The British American Chamber of Commerce (USA)
• Fellow of The Chartered Institute of Building (UK)
• Fellow of The Association of Building Engineers (UK)
• Certified ASHI Home Inspector (USA)
• Certified Mold Inspector (USA)
• BSc hon`s Degree Building Surveying (UK)
• NEBOSH Heath & Safety Advisor (UK)

I now assist many British, European and American clients find their long term financial investment property in Central Florida. I have acquired a worldwide network of referring partners from Estate Agents in the UK to Financial Advisors the Middle East.

Please feel free to check any of my qualifications and references with the following worldwide professional organizations and regulating bodies.

To contact me and arrange your fee consultation click the contact button below