Individual tax preparation is a core specialty at Olivo & Company CPA. We handle personal returns for individuals and families across a wide range of situations, including straightforward W-2 returns and more complex scenarios involving multiple income sources, self-employment, rental properties, and investment activity.
Returns we prepare.
W-2 and standard returns
Employees with standard W-2 income, including multi-state returns for those who worked in more than one state during the year.
Self-employment income
Freelancers, contractors, and side business income reported on Schedule C. We identify every allowable deduction and calculate accurate estimated tax obligations.
Rental income and real estate
Schedule E reporting for rental properties including depreciation, repairs, and passive loss rules. Common for Southwest Florida property owners.
Investment income
Capital gains and losses, dividend income, and 1099-B reporting. We ensure proper short-term and long-term treatment and identify tax-loss harvesting opportunities.
Retirement income
Social Security, pension income, IRA and 401(k) distributions including required minimum distributions. We minimize tax impact on retirement income where possible.
K-1 income from partnerships and S-corps
Pass-through income from business entities flows onto your personal return. We handle K-1 reporting correctly and coordinate with the entity return when we prepare both.
Common questions.
Does Florida have a state income tax?
No. Florida does not impose a state income tax on individuals, which is one of the financial advantages of living here. However, federal tax obligations still apply, and Floridians with income from other states may owe taxes in those states.
What do I need to bring for my tax appointment?
Bring all income documents: W-2s, 1099s, K-1s, Social Security statements, and any records of rental income or investment transactions. Also bring documentation of deductible expenses, your prior year tax return if you are a new client, and any IRS notices you received during the year.
Can you fix a prior year return that was filed incorrectly?
Yes. If a prior year return was filed with errors or missed deductions, an amended return (Form 1040-X) can be filed. The IRS generally allows amendments within three years of the original filing date. We review the original return and file the amendment if it results in a benefit.