Tax Lawyer & Certified CPA
Marshall McDonald is a licensed tax lawyer in West Palm Beach and is highly experienced in preparing returns for individuals, families and business owners. Do you hate preparing your tax return? You’re not alone.
Many people dread the coming of April 15 and the inevitable avalanche of tax forms that must be reviewed, accurately completed and filed before Tax Day. There are over 800 tax forms and schedules. Over the last 10 years, the tax code has changed on average 442 times each year. If your taxes are extremely simple (for example, you don’t itemize or have any minor children) you might be able to accurately complete your tax return on your own.
Our federal income tax Florida team has found, however, that many people benefit from using a certified and experienced tax preparer. The tax code is so complex that it is easy to overlook deductions which may give you a bigger refund, or even a credit if you are not assisted by a qualified federal Florida income tax lawyer.
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“All of the best traits apply. Marshall IS personable – I find him fun, which for me is important after the expertise. He’s on time, even when I’m not – he makes certain I stay conscious of what needs be done to keep the IRS happy. Great collaborator, ” Diane-Florida
The Benefits & How We Can Help
The benefit of Marshall’s continuing education and 30 years of experience in preparing tax returns:
- A tax return that is accurately reviewed by our computer software and double-checked for accuracy by our expert Florida reemployment tax lawyer.
- Electronic filing so that you can receive your refund more quickly.
- For a list of potential deductions to limit your tax liability for next year, Click here.
- Our federal income tax Florida team’s meticulous attention to detail.
Our Tax Planning Services
Our Florida reemployment tax lawyer offer tax services for individuals and families in the Tequesta area. Individuals file the 1040 series along with any necessary schedules and appropriate forms.
Listed below are the most commonly used forms.
Schedule A itemizes allowable deductions against income; instead of completing Schedule A, taxpayers may choose to take a standard deduction. The standard deduction changes each year and depends on age, filing status, and whether the taxpayer and/or spouse is blind.
Schedule B is used for reporting interest and/or dividend income, and is required if either interest or dividends received during the tax year exceed $1,500 from all sources or if the filer had certain foreign accounts.
Schedule C lists income and expenses related to self-employment, and is used by sole proprietors.
Schedule D is used to compute capital gains and losses incurred during the tax year. The most common use of this form is to calculate capital gains or losses on securities sales.
Schedule E is used to report income and expenses arising from the rental of real property, royalties, or from pass-through entities (like trusts, estates, partnerships, or S corporations).
Schedule EIC is used to document a taxpayer’s eligibility for the Earned Income Credit.
Schedule F is used to report income and expenses related to farming.
Schedule H is used to report taxes owed due to the employment of household help.
Schedule J is used when averaging farm income over a period of three years.
Schedule L is used to figure an increased standard deduction in certain cases.
Schedule R is used to calculate the Credit for the Elderly or the Disabled.
Schedule SE is used to calculate the self-employment tax owed on income from self-employment (such as on a Schedule C or Schedule F, or in a partnership).
Federal Corporate Income Tax Lawyer
Forms 1120 or 1120-S is due by March 15 if a business uses the calendar year as its fiscal year.
C-Corporations file form 1120 to pay income tax. A limited liability company (LLC) classified as a corporation must also file this form. An LLC that is a sole proprietorship can file a Schedule C of the 1040 series to report income. An S-Corporation is not usually liable for federal income tax, but must file form 1120S. Some investment income and capital gains is taxed.
Federal Unemployment Tax Lawyers
Federal Unemployment Tax, or FUTA, is due if an employer has paid $1,500 in wages within a calendar quarter or have employed one or more people for any portion of a day in 20 different weeks during the calendar year. This tax is paid by the Electronic Federal Tax Payment System and reported annually on form 940.
Business Taxes Lawyers
We prepare and file taxes for businesses on a monthly, quarterly, semi-annual, and annual schedule.
- Federal Corporate Income Tax
- Federal Employment Tax
- Federal Unemployment Tax
- Florida Corporate Income Tax
- Florida Reemployment Tax (formerly Unemployment)
- Florida Sales and Use Tax
- Florida Discretionary Surtax
- Florida Use Tax on Out-of-State Purchases
- Florida Tangible Personal Property Tax
Federal Employment Tax Lawyers
Businesses with employees must withhold federal income tax, Medicare tax, and Social Security tax from each employee’s wages. Payments are made by the Electronic Federal Tax Payment
System. These payments are due monthly or semiweekly. Businesses report this tax on form 941 Employer’s Quarterly Federal Tax Return. These are due January 31, April 30, July 31, and
Employers with a Federal Employment Tax liability of $1,000 or less can pay annually on January 31 by filling form 944 Employer’s Annual Federal Tax Return.