Tax Season with Jade

"Know your worth & then add tax "

Individual Income Tax 

​Individual income tax is also referred to as personal income tax. This type of income tax is levied on an individual’s wages, salaries, and other types of income. This tax is usually a tax that the state imposes. Because of exemptions, deductions, and credits, most individuals do not pay taxes on all of their income.​

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Payroll Taxes

​A payroll tax includes the taxes employees and employers pay on wages, tips, and salaries. For employees, taxes are withheld from their paychecks and paid to the government by the employer. These taxes include federal, state, and local income taxes, and the employee's share of Social Security and Medicare taxes (FICA). Taxes that employers must pay include their share of FICA as well as federal and state unemployment taxes.

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Quarterly Sales Taxes 

​Depending on the volume of sales taxes you collect and the status of your sales tax account with Florida, you may be required to file sales tax returns on a monthly, semi-monthly, quarterly, semi-annual, or annual basis.  Each sale, admission, storage, or rental in Florida is taxable, unless the transaction is exempt. Sales tax is added to the price of taxable goods or services and collected from the purchaser at the time of sale.

Florida's general state sales tax rate is 6% with the following exceptions:

• Retail sales of new mobile homes - 3%

• Amusement machine receipts - 4%

• Rental, lease, or license of commercial real property - 4.5%

• Electricity - 6%

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