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Florida Tax Strategy Playbooks & Outsourced CFO Briefings

Every guide below is authored and reviewed by Brian Isrow, CPA (30+ years CPA & CFO experience, University of Florida Finance High Honors ’95, 5.0★ Google & Intuit ProAdvisor rating).

Flagship Statutory Tax Playbooks

S-Corp & Entity Strategy • IRS Form 2553

The $80K Rule: When a Florida LLC Should Elect S-Corp Status (Form 2553)

Once a Florida LLC generates $80,000 or more in net annual profit, electing S-Corporation tax status via IRS Form 2553 typically saves $6,000 to $22,000+ per year. By splitting net profit into a reasonable W-2 officer salary and K-1 shareholder distributions, business owners legally exempt distributions from the 15.3% self-employment (FICA) tax while preserving the 20% IRC Section 199A QBI deduction.

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Real Estate & Schedule E • IRC Sec. 168(k)

Reporting Rental Property Income in Florida: Cost Segregation, Bonus Depreciation & Passive Loss Rules

Florida rental property investors can reclassify 20% to 30% of a building’s depreciable basis from 27.5- or 39-year straight-line schedules into 5-, 7-, and 15-year asset classes via an engineered Cost Segregation study. When paired with Real Estate Professional Status (REPS) under IRC § 469(c)(7) or the Short-Term Rental (STR) 7-day rule, accelerated depreciation can legally offset active W-2 and business income.

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Domicile & Multi-State Tax • 183-Day Rule

Moving to Boca Raton or Miami? How to Beat NY, NJ, MA & CA State Residency Audits

Eliminating 9% to 14.4% state income taxes by relocating to Florida requires defeating a two-prong statutory audit test used by New York, Massachusetts, New Jersey, Connecticut, and California. Taxpayers must prove both (1) a bona fide change of primary Domicile to Florida and (2) strict compliance with the 183-day statutory residency limit if retaining a permanent place of abode up north.

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Published Boca Raton, Real Estate & Business Tax Briefings (20)