Personal and Professional Service

First American Financial Services (FAFS) Inc. specializes in offering reliable and comprehensive accounting, bookkeeping, payroll, and tax services for businesses at affordable rates.

Family owned and operate for over 20 years, FAFS has built strong relationships with individuals and small business owners in the Clearwater, St. Petersburg, and Tampa areas.

Recent News and Information

• 2009 Tax Organizer - To assist you in assembling your tax information and to assure that you are taking advantage of all allowable deductions. View and print pdf here.
  
  
• What's New in 2010? New laws and procedures that will affect individuals and small businesses. View and print pdf here.
  Highlights include:
  -- IRS wants everyone to E-File payroll taxes (send us a blank check, we'll set up for you).
  -- If you take a draw, you must take a wage.
  -- Owner's health insurance must be paid personally, then deducted on the 1040.
  -- Must have W-4 and I-9 on file for each employee.
  -- All employees must be reported to Florida New Hire Center (you can simply fax them a W-4).
  -- New mileage for 2010 is 50 cents a mile.
  -- Increased late penalties for late filings ($89 per month per shareholder, $159 in 2010).
  -- 75% limitation on business cell phone expense (unless you log every call).
  
  
• Increased Unemployment Tax! Decrease in FL's trust fund triggered automatic increase of about $80 per employee per year. Read full article here.