The SALT Shaker

Sales Tax on Rental Properties

Florida is known for white sandy beaches, warm sunny weather and..… no income taxes for individuals.  However, many individuals have discovered there is a “sales” tax on renting their Florida beach condos.  The state of Florida  is using information from the federal income tax return to locate individuals that own rental properties in Florida.  The state will mail an assessment notice based on the address and activity on the Federal tax schedule E.

Keep this in mind for individuals that report Florida rental activity on their individual income tax returns.  The tax only applies in specific circumstances and the KatzAbosch SALT Group can help evaluate any potential tax obligations.

 Please contact the KatzAbosch SALT Group if you want to reduce potential audit assessments.

The SALT Shaker is prepared by Andy Bareham, Chair of the KatzAbosch SALT Group