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Tax office in Miami
Why fill your income taxes with us?
Advantage Income Tax We are a multi-service office located in the heart of Miami. Family oriented business with professional service with an onsite Enroll Agent. Our main focus is full service tax preparation. With over 6000 yearly returning clients we are sure we can meet your needs. We also offer services from Starting New Corporations, Notary Services, and help you with all your filings for Immigration, included but not limited to Citizenship’s, Residency, Family Sponsored Affidavits to bring your relative from abroad into the United States, and many more services… and as always our family . . . serving yours… since 1987.
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Filling up you income taxes online
What is the income tax?
This are taxes payable by natural or legal persons, according to their income. It are generally calculated as the product of a tax rate and taxable income. In general, the rates may vary according to the type or characteristics of the taxpayer. The tax rate may increase as income increases. However, natural persons are taxed differently.
Most jurisdictions require self assessment and require taxpayers of certain types of income to withhold tax on these payments. A tax advance may be requested from the taxpayer. Taxpayers who fail to pay taxes on time are generally liable to significant penalties, including imprisonment or revocation of the company’s legal status.
Tax Preparation Fees
| Services | Fee |
|---|---|
| Single Fillers | $90 |
| Married Filling Jointly | $120 |
| Married Filling Separately | $120 |
| Head of Household | $140 |
| Home owners | $170 |
| Self Employ | $175 |
| Self Employ | $240 |
| Self Employ/Home owner | $250 |
| Additional Schedule & Forms | $15-$25 |
| Electronic Filling | $25 |
Electronic Filling with not out of pocket cash
Visa Card $55 + Preparation fee
Direct Deposit $83.95 + Preparation fee
Checks $88.95 + Preparation fee
What is the federal income tax rate?
| Taxable Income | Rate |
|---|---|
| $0 – $9,525 | 10.00% |
| $9,326 – $38,700 | 12.00% |
| $38,700 – $82,500 | 22.00% |
| $82,500 – $157,500 | 24.00% |
| $157,500 – $200,00 | 32.00% |
| $200,000 – $500,000 | 35.00% |
| $500,000+ | 37.00% |
| Taxable Income | Rate |
|---|---|
| $0 – $19,050 | 10.00% |
| $19,050 – $77,400 | 12.00% |
| $77,400 – $165,000 | 22.00% |
| $165,000 – $315,000 | 24.00% |
| $315,000 – $400,000 | 32.00% |
| $400,000 – $600,000 | 35.00% |
| $600,000+ | 37.00% |
| Taxable Income | Rate |
|---|---|
| $0 – $9,525 | 10.00% |
| $9,525 – $38,700 | 12.00% |
| $38,700 – $82,500 | 22.00% |
| $82,500 – $157,500 | 24.00% |
| $157,500 – $200,000 | 32.00% |
| $200,000 – $300,000 | 35.00% |
| $300,00+ | 37.00% |
| Taxable Income | Rate |
|---|---|
| $0 – $13,600 | 10.00% |
| $13,600 – $51,800 | 12.00% |
| $51,800 – $82,500 | 22.00% |
| $82,500 – $157,500 | 24.00% |
| $157,500 – $200,000 | 32.00% |
| $200,000 – $500,000 | 35.00% |
| $500,000+ | 37.00% |
What is the best way to fill out my taxes?
You will notice that parentheses vary depending on whether you are single, married or head of household. Married persons may apply individually or jointly. Although it is often wise to store them together, separate storage may be the best choice in some situations.
Based on the rates shown in the table above, an individual client with an income of USD 50,000 would have a maximum marginal tax rate of 25%.
However, that taxpayer would not have paid that rate on the full $50,000. The rate for the first $9,325 of taxable income is 10%, for the next $28,625 15% and for the remaining $12,050 25%. Marginal tax rates apply only to income in this range.
Calculation of income through exemptions and deductions federal tax rates are applied to taxable income. This differs from your total income (also called gross income). Taxable income is always less than gross income.
Calculate taxable income
To begin with with a few adjustments to gross income to arrive at adjusted gross income (GOI). Possible adjustments are deductions for interest payments on student loans, IRA contributions, relocation expenses and health insurance contributions for self-employed workers.
Once the adjusted gross income is calculated, it is possible to deduct exemptions and deductions (detailed or standardized) to obtain taxable income. The exemption for fiscal 2017 is $4,050.
Exceptions may be claimed for any taxpayer and dependants, such as spouses and children. For any required exemption, you can deduct $4,050 from your taxable income.
The prints are a little more complicated. Many taxpayers require the standard deduction, which varies depending on the status of the filing, as shown in the following table.
| Filing Status | Standard Deduction Amount |
|---|---|
| Single Filers | $12,200 |
| Married, Filing Jointly | $24,400 |
| Married, Filing Separately | $12,200 |
| Head of Household | $18,350 |
Types of deductions on taxes?
In general some taxpayers may choose to detail their deductions. This means that some eligible expenditure is deducted. The most common detailed prints are:
Deduction of state and local taxes. Also known as the SALT deduction, it allows taxpayers to deduct all state property taxes and local property taxes, as well as all income taxes or general sales taxes paid during the tax year.
Did you pay your Property taxes this year?
How the sales tax is calculated?
You must add it to the original costs to get the total cost. If the total sales tax is $0.7 and the cost of the original item is $100.00, the total cost is $107.00.
1- Try this example. You buy a ball in Florida where the VAT is 0.7 %. The ball costs 10 $, what is the total cost of the basketball. Multiply the result: $10 x $0.70 = a total cost of $10.70
Calculate the VAT rate
1- Working backwards if you know the original cost of the element. You can work backwards to determine the VAT rate, as long as you know the original cost of the item.
Example :
Suppose you bought a $1200 TV and your total account is $1.266, which means the sales tax was $66, what is the sales tax rate?
Take the tax rate and divide it by the original price: $66 ÷ $1.200 = $0.055. Convert the decimal to percent by moving the decimal point two digits to the right: 0.55 becomes 5.5%. Their initial VAT rate is 5.5%.
What is the total cost of food expenditure, including VAT?
Convert the sales tax percentage to the decimal rate: 7% becomes 0.07.
Multiply: 300 x 0.07 = $21 for a total cost of $321.
What is the total cost of the car including VAT?
Convert VAT rate to decimal: 6.25% becomes 0.625
Multiply: $10.000 x 0.625 = $625.0 or $10.625 Total cost.
Some US states have no sales tax at all
- Delaware
- New Hampshire
- Montana
- Oregon
- Alaska
Keep in mind that states impose different taxes on different products. A state or district, such as the District of Columbia, may levy a general sales tax of 6%, but may set the rate for alcoholic beverages and ready to eat meals at 10%.
New Hampshire, for example, does not have a general sales tax, but continues to tax prepared food at 9%.
Massachusetts, for example, does not start counting the sales tax associated with clothing until the invoice exceeds $175. So if you buy less than 175 dollars of clothing in Massachusetts, the state government will not tax it.
Tax office near you in Miami Dade
Our Tax Office in Miami Florida
Where are our customers?
We have many clients in all United States, but most are from Broward County and Miami Dade.
People also ask:
Will I get a tax refund in 2020?
There are two key exceptions to the estimated 21-day return timeline. Due to the “Protecting Americans from Tax Hikes (PATH) Act of 2015,” the IRS must holdtax refunds that include the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until February 15, 2020
Are tax refunds delayed for 2020?
Who qualifies for refund?
How do I get the biggest tax refund?
- Don’t take the standard deduction if you can itemize.
- Claim your friend or relative you’ve been supporting.
- Take above-the-line deductions if eligible.
- Don’t forget about refundable tax credits.
- Contribute to your retirement to get multiple benefits.
Will tax refunds be higher in 2020?
Telephone No.(305) 858-0006