Corviniti/Local Services/Small Business Accountant in Miami, FL
Local Services / Florida / Miami
Small Business Accountant in Miami, FL
Monthly financials you can act on, the entity and the federal tax planned during the year, and a CPA to call before decisions, at a flat monthly price.
Books turned into decisions. Monthly financials with the measures that drive your business, and a CPA who explains what changed and what to do about it.
Entity choice under Florida's rules. No state tax on pass-through income, a 5.5 percent tax on C corporation income above $50,000, and federal planning that carries most of the savings.
For owners who deal with more than one state. Miami companies that sell into other states, and owners who moved from New York, get both sides of the return planned together.
Corviniti works as the accountant for small businesses in Miami and across Miami-Dade County, from our office in downtown Miami. A bookkeeper records what happened. An accountant turns the records into financial statements you can use, plans the tax on them before the year ends, and tells you what the numbers mean for pricing, hiring, and borrowing. A CPA leads the team, and we work in English and Spanish.
Florida changes where the planning happens. Pass-through income from an LLC, a partnership, or an S corporation is not taxed by the state, because Florida has no personal income tax, so there is no state election to make and no state credit to claim. A C corporation owes the Florida corporate income tax at 5.5 percent. For most Miami owners the savings come from the federal return, from the choice of entity, and from getting the other states right when the business or the owner has income there.
This page sits under Corviniti Accounting in Miami, our office in downtown Miami. That page covers Florida tax for South Florida businesses and for people who move to Florida, and links to the rest of our Florida coverage.
What New York can still tax after a move to Florida. Residency depends on specific facts.
This is for you if
You have a bookkeeper but cannot tell which parts of the business make money.
You formed an LLC years ago and nobody has checked whether an S corporation would save tax.
You moved the business or yourself from New York and are not sure what you still owe there.
You want a CPA to call before decisions, not an hourly bill after them.
What you get
Financials you can act on A monthly package built around your business, with the measures that drive it and an explanation of what changed.
Entity and tax planning The LLC, S corporation, and C corporation choice modeled on your numbers, and the federal tax planned during the year.
Other states handled The returns your company or your owners still owe in New York or other states, prepared with the federal return.
A CPA to call Answers within one business day, in English or Spanish, at a flat monthly price.
How We Help
What you get
A CPA-led accounting relationship that turns your books into decisions and plans the tax before the year ends.
Financials you can act onA monthly package built around your business, with the measures that drive it and an explanation of what changed.
Entity and tax planningThe LLC, S corporation, and C corporation choice modeled on your numbers, and the federal tax planned during the year.
Other states handledThe returns your company or your owners still owe in New York or other states, prepared with the federal return.
A CPA to callAnswers within one business day, in English or Spanish, at a flat monthly price.
When companies bring us in
You have a bookkeeper but cannot tell which parts of the business make money.
You formed an LLC years ago and nobody has checked whether an S corporation would save tax.
You moved the business or yourself from New York and are not sure what you still owe there.
You want a CPA to call before decisions, not an hourly bill after them.
The Detail
The gaps, and how we close each one
Service 01
What an accountant adds beyond bookkeeping
An owner can have a bookkeeper and still not know which parts of the business make money, what the tax bill will be, or whether they can afford the next hire.
How we handle it
We keep the books current, or work from the books your bookkeeper keeps, and add three things. The first is a monthly financial package built around your business: margin by product, service, or location, the cash position, and a note on what changed and why. The second is tax planning during the year, so estimated payments are set from real numbers and decisions such as buying equipment or paying a bonus are made before December 31. The third is a CPA who answers questions before a decision is made, within one business day.
What you get: Books kept current and turned into monthly decisions.
Service 02
Choosing an entity in Florida
The entity a Miami business chooses sets its tax bill for years, and an LLC formed at the start may no longer fit once the business is profitable.
How we handle it
A Miami small business can operate as an LLC, an S corporation, or a C corporation. An LLC taxed as a sole proprietorship or partnership is simple, pays no Florida income tax, and passes all profit to the owners' federal returns, where it carries self-employment tax. An S corporation also pays no Florida income tax in most cases, and lets an owner who works in the business take part of the profit as distributions, which do not carry payroll tax. The owner must be paid reasonable compensation before distributions, and the IRS reviews salaries set too low. A C corporation pays the Florida corporate income tax at 5.5 percent on income above a $50,000 exemption, in addition to the federal corporate tax, and its profits are taxed again when paid out as dividends. A C corporation can still suit a company that will keep its profits to grow, or that plans to raise venture capital. We compare the three on your numbers, including the federal qualified business income deduction, which applies to pass-through income and not to a C corporation.
What you get: An entity recommendation modeled on your numbers, with a reasonable salary set for the owner.
Service 03
What Florida's lack of an income tax changes, and what it does not
Once its owners are Florida residents, Florida taxes none of their share of the profit. The state they left can still tax income sourced there: New York, for example, taxes a nonresident on New York source income, and taxes all of a resident's income.
How we handle it
Florida does not tax an owner's share of pass-through profit, wages, dividends, or capital gains, so there is no Florida return for most owners and no pass-through entity tax election of the kind New York and New Jersey offer. Several costs remain. The federal return still taxes the same income at the same rates. The federal deduction for state and local taxes is capped, and in Florida it usually consists of property tax plus either sales tax, including the county surtax, or nothing else, because there is no income tax to deduct. A C corporation still owes the 5.5 percent Florida corporate tax. And the business still pays sales tax, reemployment tax, and a tangible personal property tax on its equipment.
What you get: A clear picture of the Florida and federal taxes the business and its owners still pay.
Not sure your entity is still the right one? Model it with a CPA before year-end.
A Miami company with customers, employees, or property in other states can owe tax in those states, and an owner who moved recently may still owe tax where they lived before.
How we handle it
A Miami company can owe tax in another state because it has employees, property, or enough sales there. For sales tax, a state can require an out-of-state seller to register once its sales into the state pass the state's threshold, even with no office there, under South Dakota v. Wayfair. For income tax, a company with employees or an office in New York or New Jersey files there on the income it earns there. An owner who moved from New York during the year files a part-year New York return, and income earned while working in New York, including bonuses and some equity compensation paid later, can remain taxable there. We map where the company and each owner file, and prepare those returns with the federal return so the income is counted once and allocated correctly.
What you get: A map of where the company and each owner file, with those returns prepared together.
Service 05
Accounting for Miami's main industries
The accounting and the planning differ by industry, and Miami's economy has several industries with their own requirements.
How we handle it
Funds and financial firms. Management companies and advisory firms need fee revenue timed correctly, expenses allocated between the firm and its funds, and partner compensation planned with the entity. The owners' personal returns often carry income from several states and countries, and we plan them with the firm's return.
International trade. Companies that buy or sell across borders need landed cost in their margins, foreign currency gains and losses recorded, and the federal information returns that apply to foreign ownership planned during the year.
Restaurants and hospitality. We track food and labor cost as a share of sales by location, claim the federal credit for employer Social Security tax paid on reported tips, and plan the owner's pay and the entity together.
Real estate. Investors and developers need each property's results separate, depreciation and cost segregation planned, and the tax on a sale modeled before it happens, including the documentary stamp tax on the deed, which in Miami-Dade is 60 cents per $100 of the price plus a 45-cent surtax, unless the deed transfers only a single-family dwelling.
Medical and professional practices. Practices need collections reconciled to billed production, owner compensation set on a defensible basis, and retirement plans that reduce the federal tax on a high income.
What you get: Accounting and planning shaped around how your industry makes money.
Service 06
How the relationship works
An owner should know in advance what the service includes each month, and when the CPA is involved.
How we handle it
You pay a flat monthly fee that covers the books or the review of your bookkeeper's work, the monthly financial package, the quarterly tax planning, and access to a CPA by phone, video, or email. We schedule planning meetings before the dates that matter: the estimated tax payments, the year-end decisions in November and December, and the return deadlines. Meetings are in English or Spanish, by video or at our office in downtown Miami. The tax returns are prepared by the same team, from the same books.
What you get: A flat monthly scope, a named CPA, and planning meetings before the dates that matter.
FAQ
Frequently asked questions
What is the difference between a bookkeeper and an accountant?
A bookkeeper records transactions and reconciles accounts. An accountant turns those records into financial statements, plans the tax on them, and advises on decisions such as pricing, hiring, and borrowing. We provide both, so the planning starts from books we trust.
Does Florida tax my LLC?
Usually not. An LLC taxed as a sole proprietorship or a partnership passes its income to the owners, and Florida has no personal income tax. An LLC taxed as a partnership that has a corporate member also files the Florida partnership information return, Form F-1065, although the LLC itself pays no Florida tax. An LLC that elects to be taxed as a C corporation owes the Florida corporate income tax, and every LLC files an annual report with the Division of Corporations.
Should my Miami business be an S corporation?
Often, once profit is high enough that the payroll tax saved on distributions is larger than the cost of running payroll for the owner. The owner must be paid reasonable compensation before distributions, and the IRS reviews salaries that are set too low. We model it on your numbers, including the federal qualified business income deduction, before recommending a change.
Can you work with our existing bookkeeper or payroll provider?
Yes. Many clients keep their bookkeeper for daily entries and use us for the monthly review, the financial package, and the tax planning. We work in your existing QuickBooks or Xero file and with your payroll provider.
Do you work in Spanish?
Yes. Our team works in English and Spanish, including the planning meetings and the explanation of the financial statements.
Do you work with restaurants and hospitality businesses?
Yes. We track food and labor cost as a share of sales by location, claim the federal credit for employer Social Security tax paid on tips, and plan the entity and the owner's pay so the business keeps the cash it needs through the slower months.
Do you work with companies that trade with Latin America?
Yes. We account for foreign currency, landed inventory cost, and payments between related companies, and plan the federal information returns that apply when a company has foreign owners or foreign affiliates.
Do you work with medical and dental practices?
Yes. We reconcile collections to billed production, keep provider compensation clear, and plan the entity, the retirement plan, and equipment purchases that reduce the federal tax on a high-income practice.
Do you work with real estate investors and developers?
Yes. We keep each property's results separate, plan depreciation and cost segregation, and model the tax on a sale before it happens, including a 1031 exchange where it fits.
Tangible personal property.section 196.183, Florida Statutes: the $25,000 exemption that a timely return claims, and the waiver of later returns while the property is worth $25,000 or less.
Homestead exemption.section 196.031, Florida Statutes: the $25,000 exemption from all taxes, and the second exemption from taxes other than school taxes.
Declaration of Domicile.section 222.17, Florida Statutes: the sworn statement of Florida domicile, filed for recording in the county.
New York wages after a move.Form IT-203-B, Schedule A: a nonresident's wages allocated to New York by the days worked there.
Stock compensation after a move.the Form IT-203-F instructions: the New York workday fraction applied to stock options, restricted stock, and stock appreciation rights.
Investment income after a move.the IT-203 instructions on New York source income: interest, dividends, and gains are New York income only when the property is used in a business carried on in New York.
Retirement income.4 U.S.C. 114: the federal bar on a state taxing a nonresident's retirement income.
Federal corporate rate.26 U.S.C. 11(b): 21 percent of a C corporation's taxable income.
Federal individual rates.26 U.S.C. 1: the 37 percent top rate in subsection (j), and the 20 percent rate on qualified dividends in subsection (h).
Net investment income tax.26 U.S.C. 1411: 3.8 percent of the lesser of investment income, including dividends, and modified adjusted gross income above $200,000, or $250,000 on a joint return.
Qualified business income deduction.26 U.S.C. 199A: the 20 percent deduction, which Public Law 119-21 extended past 2025.
This page summarizes Florida, county, and federal tax rules for general information, and is not tax advice for your situation. Rates, exemption amounts, and thresholds change each year; confirm the current figures with the authority before you rely on them.
