Running a small business in Hollywood, Florida means juggling clients, cash flow, and compliance—especially taxes. This 2025 guide distills the key federal, Florida, and Broward County deadlines and money‑saving opportunities you can’t afford to miss. Whether you’re a startup on Hollywood Blvd or a growing contractor west of I‑95, use this checklist-style article to plan ahead and keep more of your hard‑earned profit.
2025 Broward Small Business Tax Deadlines Guide
The big federal due dates for calendar‑year filers in 2025 are: March 15 for S corporations (Form 1120‑S) and partnerships (Form 1065); April 15 for C corporations (Form 1120) and individuals (Form 1040). If a date falls on a weekend or holiday, the deadline moves to the next business day. Extension filings push the return due date (to September 15 for S‑corps/partnerships and October 15 for individuals) but never extend the time to pay—so estimate and pay with your extension.
Florida has no personal income tax, but there are critical state and local filings. Florida C‑corporations must file the Florida Corporate Income/Franchise Tax Return (Form F‑1120); for calendar‑year corporations, the return is generally due May 1, 2025. Florida recognizes federal S‑corporations; most S‑corps don’t owe Florida corporate income tax and do not file F‑1120 unless subject to federal built‑in gains or excess net passive income taxes.
Don’t overlook local items. The Florida Tangible Personal Property Tax Return (DR‑405) is due April 1, 2025 to the Broward County Property Appraiser; timely filers can benefit from the first $25,000 TPP exemption. Broward County and the City of Hollywood Local Business Tax Receipts (LBTR) renew each year by September 30 and become delinquent October 1 with escalating penalties. Payroll Forms 941 and Florida Reemployment Tax (RT‑6) are due quarterly (Apr 30, Jul 31, Oct 31, Jan 31). Sales tax (DR‑15) is due monthly—returns and payments are due the first of the month and late after the 20th.
Hollywood FL Deductions, Credits, and Write‑Offs
Maximize federal deductions you’re entitled to: Section 179 and bonus depreciation for equipment and vehicles, home office (if used regularly and exclusively for business), business use of your vehicle (actual costs or standard mileage), and employer health insurance premiums. Meals with clients are generally 50% deductible in 2025; entertainment remains non‑deductible—track these separately in your books.
Don’t forget the Qualified Business Income deduction (QBI, Section 199A) for eligible pass‑through owners; it can reduce tax by up to 20% of qualified income, subject to wage/basis limits and specified service business thresholds. Fund a tax‑advantaged retirement plan—Solo 401(k), SEP‑IRA, or SIMPLE IRA—to cut taxes and build savings. If you experienced storm damage, disaster loss rules may allow accelerated deductions; document repairs and insurance proceeds.
Florida‑specific opportunities matter, especially for C‑corps. While Florida conforms broadly to federal rules, it requires adjustments (for example, a bonus depreciation addback with multi‑year recovery for corporate filers). Certain Florida corporate credits exist (e.g., R&D credit with a statewide cap, urban job credits), but they’re specialized. For most Hollywood small businesses, the biggest wins come from clean books, proactive timing of purchases, retirement plan funding, and optimizing owner compensation.
Sales Tax, Commercial Rent Tax, and Local Surtaxes
Florida’s state sales tax is 6%, plus any county discretionary sales surtax. Broward County imposes a discretionary surtax, making most taxable sales in Hollywood subject to a combined rate higher than 6%; always confirm the current surtax rate on the Florida Department of Revenue’s chart. Sales tax returns are typically monthly: due on the 1st, late after the 20th, with a small collection allowance for timely, accurate e‑filers.
If you rent commercial space, Florida’s “business rent tax” applies to base rent and many common charges. The state portion of the commercial rent tax was reduced to 2.0% effective June 1, 2024; the county surtax still applies on top. Verify that your landlord is charging the correct combined rate and that your books record rent and sales tax separately—overpayments are common and refunds are time‑limited.
Selling online? Florida enforces economic nexus: remote sellers and marketplaces reaching the statewide threshold must register and collect Florida sales tax on sales delivered to Florida. Hollywood short‑term rentals and hotels also face Tourist Development Tax in Broward in addition to state/county sales tax. If lodging or platform fees are part of your business, confirm who collects and remits each tax to avoid double‑collection or gaps.
Bookkeeping Strategies for Broward County Entrepreneurs
Set up a clean chart of accounts with separate liability accounts for sales tax, payroll tax, and LBTR. Reconcile bank, credit card, and merchant processor statements monthly; match deposit batches to daily sales reports from your POS to catch processing fees and chargebacks. Accurate categorizations drive bigger, supportable deductions and faster tax prep.
For restaurants, salons, retailers, and contractors, inventory and job‑costing are the difference between guessing and growing. Use your POS or inventory app to record counts, waste, comps, and shrink. Track cost of goods sold weekly, not just at year‑end. For service businesses, tag labor, materials, subcontractors, permits, and mileage to each job to see true margins by client and service line.
Digitize everything. Save receipts, bills, and contracts to a cloud drive or your accounting system, and connect bank feeds to minimize manual entry. Keep owner draws, personal expenses, and business spending separate. If you run payroll, adopt a written reasonable‑compensation policy for S‑corp owners and calendar your 941/RT‑6 and W‑2 deadlines. A few process tweaks now will save hours and penalties later.
Entity, Annual Reports, and Compliance Essentials
Your entity choice shapes tax outcomes. Sole proprietors and single‑member LLCs are simple, but S‑corporations can reduce self‑employment taxes when profits grow—provided you pay reasonable owner wages and maintain clean payroll. C‑corps can fit certain growth plans but introduce Florida corporate income tax and double‑tax considerations. Revisit your structure annually as revenue and goals evolve.
File the Florida Annual Report with Sunbiz by May 1, 2025 to keep your LLC or corporation active; Florida assesses a steep $400 late fee for most for‑profit entities after May 1, and you risk administrative dissolution if you ignore it. Keep your registered agent, principal address, and officers/managers current—lenders and clients often verify status before signing contracts.
New federal rules also matter. The Beneficial Ownership Information (BOI) report to FinCEN became mandatory: companies formed before 2024 must file by January 1, 2025; companies formed in 2025 generally have 30 days from formation to file. Report changes (like new owners) within 30 days. It’s not a tax filing, but penalties are significant—and lenders increasingly ask for proof of compliance. POS Taxes can coordinate BOI, annual report, and tax calendars so nothing slips.
Every dollar counts when you’re building a business in Hollywood. Use this 2025 guide to plan your deadlines, sharpen your deductions, and stay compliant across federal, Florida, and Broward requirements. For a customized tax calendar, sales‑tax setup, and proactive tax planning, contact POS Taxes in Hollywood, FL today—we’re local, responsive, and ready to help you keep more of what you earn.
