Tax Season 101

Your Guide to Filing Taxes in Florida

Jump To

• The FL Tax Landscape
• 2026 Updates to Look For
• Standard Deductions
• Common Credits
• Deduction vs Itemizing
• Choosing How to File
• Example Tax Filing
• Knowing Your Filing Status
• Community First Benefits

Tax season can feel like a maze, but for Floridians, it’s a little simpler than in most states. Because Florida doesn’t have a state income tax, residents only need to focus on filing their federal tax return, unless they had earned income in another state. Still, understanding key deadlines, recent updates, and deductions can save time and money. Whether you’re experienced or novice, this blog will help you reduce stress as you navigate tax season.**

Key takeaways:

• Florida residents may not have to file state income taxes, only federal returns.
• Knowing this year’s IRS updates and common deductions can help maximize your refund.
• Staying organized early prevents last-minute tax stress.
• Being a credit union member can save you on tax prep, help you get your return faster, and provide access to financial education.

Understanding the Florida Tax Landscape

No State Income Tax: How That Simplifies Things

Florida is one of only a few states that doesn’t collect state income tax. That means no separate Florida state filing, no Florida state tax forms, and potentially fewer complications at tax time. However, if you’ve earned income in another state, you may still need to file there, so double-check your income sources before submitting your return.

Federal Filing Deadlines and 2026 Tax Updates

The IRS typically requires federal tax returns to be filed by April 15th, unless adjusted for holidays.

2026 brings a few updates to watch for:

• Adjusted tax brackets due to inflation.
• Changes to standard deductions for singles and families.
• Updates to credits like the Child Tax Credit* or Earned Income Tax Credit*.

Reviewing these changes early helps you estimate your potential refund or amount owed.

Standard Deductions for Tax Year 2025

• $15,750 for single or married filing separately
• $31,500 for married couples filing jointly or qualifying surviving spouse
• $23,625 for head of household

Additional Standard Deduction:

• Single/head of household: An additional $2,000 for those who are 65-plus or blind. An additional $4,000 for those 65-plus and blind.
• Married filing separately/married filing jointly: An additional $1,600 if 65-plus or blind per qualifying person, or $3,200 if 65-plus and blind per qualifying person.

(The married filing separately* amounts in these sections are for taxpayers that have a spouse that files a return. These numbers could change if your spouse does not file a return.)

What is a Deduction?

A deduction* is an amount you can subtract from your taxable income to reduce the overall amount that is subject to taxation.

What is a Credit?

A tax credit* directly reduces your tax bill dollar-for-dollar, unlike a deduction, which only lowers your taxable income.

Common Credits and Deductions for Florida Residents

Even though Florida doesn’t add state tax paperwork, plenty of federal deductions and credits can lower your bill. Homeowners may qualify for mortgage interest or property tax deductions, while renters might benefit from energy-efficient improvement credits.

Other popular options include:

• Retirement savings contributions (IRA or 401(k)).
• Education and student loan interest deductions.
• Charitable contributions to qualified nonprofits.

Keeping receipts and official statements throughout the year ensures none of these potential savings slip through the cracks.

Taking the Standard Deduction vs Itemizing

According to HR&Block^®, 90% of filers* take the standard deduction due to its simplicity and size. The standard deduction is a fixed dollar amount that reduces the income you’re taxed on. It allows you to take a tax deduction even if you have no expenses that qualify for claiming itemized deductions.

Choosing the Best Way to File

There’s no one-size-fits-all method for filing taxes.

• DIY or software filing works well for straightforward returns.
• Professional tax preparers or CPAs are helpful if you have self-employment income or property sales.
• Many communities, including parts of Florida, offer free IRS VITA* (volunteer income tax assistance) or AARP Tax-Aide services* for qualifying taxpayers.

Starting early allows time to get advice if something looks unclear—without the last-minute rush.

Taxpayer Example

The following scenario* may help illustrate the importance of understanding tax forms, what they mean, and which tax preparation options could be best. This is an example only, used for educational purposes**.

Meet Maria: A 35 Year Old Jacksonville Homeowner*

Maria is 35, lives in Jacksonville, Florida, owns her home, contributes to both a 401(k) and a traditional IRA, and financially supports her retired mother who lives with her as a dependent. She works full-time for an employer and also does a small amount of freelance work on the side.

Because she lives in Florida, Maria does not file a state income tax return, but she still needs to file a federal tax return each year and keep track of property tax rules locally (like homestead exemption* for her Florida home).

Forms Maria Can Expect*

Income and employment

• Form W 2 (from her employer): Shows her annual wages, federal income tax withheld, and Social Security/Medicare withholding from her full time job.
• Form 1099 NEC or 1099 K (from freelance clients or platforms, if applicable): Reports any side gig or freelance income she earned during the year that was not paid as an employee.
• Form 1099 INT and/or 1099 DIV (from bank or investment accounts): Arrives if she earns enough interest on savings or dividends from investments in taxable accounts.

Retirement contributions

• Year end 401(k) statement (from her employer’s plan): Summarizes how much she contributed to her employer sponsored 401(k). The amount of pre tax contributions is used to estimate how much of her income was sheltered in the plan.
• Form 5498 for her IRA (from the IRA custodian, often sent in May): Reports how much she contributed to her IRA for the tax year. While this form can arrive after the filing deadline, she should already know her contribution amount from her own records or account statements when she files.

Homeownership and property

• Form 1098 (Mortgage Interest Statement): Shows how much mortgage interest and certain property related costs she paid. If Maria itemizes deductions instead of taking the standard deduction, this form is important.
• Property tax statements (from the county/tax collector): Show how much property tax she paid during the year. These can be used if she itemizes deductions.
• Local homestead exemption paperwork (not used on the federal return, but key for property tax savings): For example, her homestead exemption application and related notices help reduce her Florida property tax bill as a primary homeowner.

Dependent parent

• Social Security benefit statement (SSA 1099) for her mother, if applicable: Shows how much income her mother received and helps determine whether Maria’s mother qualifies as her dependent (based on income and support tests).
• Medical, caregiving, and support receipts: Records of medical expenses Maria pays for her mother, plus documentation that she provides more than half of her mother’s financial support. These may support claiming her mother as a qualifying relative and may factor into medical expense deductions if Maria itemizes.

General supporting documents

• Last year’s tax return: Used for reference (carryovers, bank info for direct deposit).
• Bank account and routing numbers: Needed to set up direct deposit for any refund or direct debit for any amount owed.

Best Way for Maria to File*

Because Maria’s situation is more than just a simple W 2, she benefits from a slightly more robust filing approach.

Why basic DIY might be too simple for Maria

A very basic “short form” style filing or paper return can make it easy to:

• Miss deductions related to mortgage interest and property taxes.
• Mishandle side gig income from 1099 NEC or 1099 K.
• Misapply the rules for claiming her mother as a dependent.
• Overlook how IRA and 401(k) contributions affect her overall tax picture.

Good option: Guided tax software*

For someone like Maria, guided tax software, like TurboTax* is often the sweet spot:

• Asks clear interview style questions about homeownership, dependents, and retirement contributions.
• Walks through entering her W 2, any 1099 income, and Form 1098 mortgage interest.
• Helps determine whether she should take the standard deduction or itemize based on mortgage interest, property tax, and other deductions.
• Guides her through claiming her mother as a qualifying relative dependent if she meets IRS tests (support, income limits, and relationship).
• Handles side gig income and can help her calculate self employment tax if her freelance income is significant.

This is usually the most cost effective and time efficient method for a tech comfortable 35 year old with several moving parts but no very complex business or investment structures.

When a tax professional makes sense*

Maria might consider using a CPA or enrolled agent if:

• Her freelance income grows into a substantial side business.
• She starts renting out part of her home or buys a rental property.
• Her mother’s healthcare and support costs become large enough that medical deductions and special caregiving arrangements get complicated.

A professional can also help with long term planning, such as how much to put into pre tax versus Roth accounts, and whether itemizing is likely to benefit her in future years.

Know Your Filing Status

Your filing status may seem pretty straightforward, but it’s important to know the meaning behind it. Learn more about each filing status, so you can ensure you select the one that best suits you.

• Single – You’re not married as of the end of the year for which you’re filing taxes.
• Married filing jointly – You were married at the end of the year for which you’re filing taxes and you and your spouse are filing a joint return that combines your financial information.
• Married filing separately – You were married as of the last day of the tax year but have chosen to file a separate return from your spouse.
• Head of household – You’re unmarried, maintain the cost of a household, and support children, parents, or other relatives.
• Qualifying widow(er) – Generally, this means your spouse is deceased and you have a dependent child. You may retain the benefits of the married filing jointly status for up to two years after the death of your spouse.

How Community First Credit Union Can Help During Tax Season

At Community First Credit Union, we understand that tax season can stir up questions about budgeting, saving, and planning ahead. While we don’t file returns for you, we can help you stay financially organized.

Members often use our tools to:

• Organize tax documents in preparation for filing their return. Get your free tax document checklist here!
• Set up direct deposit for faster, more secure refunds.
• Create savings goals for refunds, turning short-term cash into long-term stability.
• Access financial education resources about filing taxes, budgeting, debt payoff, and managing windfalls responsibly.
• Access member benefits such as tax prep savings through H&R Block^® and TurboTax.
• Discover smart ways to use their tax returns.

At Community First Credit Union, our members come first. Apply for membership online or in-branch with only $5 and start taking advantage of products and services that help you build a stronger financial foundation.

Conclusion

Filing taxes in Florida is simpler than in many states, but preparation still matters. By understanding federal filing rules, taking advantage of credits, and planning early, you can make this tax season easier and more rewarding.

When you’re ready to organize your finances for tax season, or after your refund arrives, Community First Credit Union is here to help you plan wisely and move confidently toward your financial goals.

Learn more about Community First Credit Union, or contact us today to learn how we can help you achieve your financial goals!