How Families Save Money on Taxes in Florida

The majority of families who move to Florida end up overpaying on their taxes — simply because they don't know what they're entitled to. We spoke with Albina, an accountant with 25 years of experience and a licensed IRS Enrolled Agent, who immigrated from Russia and has been working in the US for many years. She explained what benefits are literally right under your feet — and why skimping on a professional accountant is risky.

"In America, It Pays off to Be Married and Have a Big Family"

When an accountant with a background as a chief financial officer says this, it's no joke. It's pure math.

The US tax system is designed that way so that middle-income families receive some of the most significant benefits. The more children you have, the more tax credits you get. The more official your marriage is, the more beneficial it is to file a joint return. And all of this is backed up by real figures in the Internal Revenue Code.

"In America, you should get married and have many children. Then you will receive a lot of benefits from the state," our expert explains. "If the family's earnings are in line with the average — roughly up to $350,000 a year — we can almost always claim some kind of benefits."

Let's break down exactly what this means.

Specific Benefits Most Families Don't Know About

1. Child Tax Credit — $1,700–$2,200 Per Child

For each child under 17 who is your dependent, you can claim a tax credit of up to $2,200 (IRC §24). This isn't a deduction from your income — it's a direct reduction of your tax burden.

For children under 18, the Additional Child Tax Credit may apply in certain cases, up to $2,200.

N.B.: A child who came with you from another country and doesn't yet have citizenship or a Green Card must have an Employment Authorization Document (EAD) or Social Security Number (SSN) for you to claim them as a dependent. If they don't have such documentation, we can help obtain an ITIN (Individual Taxpayer Identification Number).

2. Earned Income Tax Credit (EITC) — Up to $7,830 Refund

This is one of the largest credits for families with children and middle-income families. The amount depends on the number of children and income level. A family with three or more children and an income up to ~$66,000 can receive a refund of up to $7,830 (IRS EITC).

Many people don't claim it simply because they don't know they qualify.

3. Child and Dependent Care Credit — Up to $600 Per Child

If your child attends preschool or daycare/after-school programs, you pay for this with your own money so you can work. The government takes this into account. Using Form 2441, you can claim a credit for expenses related to the care of children under 13.

"If a child attends daycare/after-school programs or extracurriculars, you can gather that information, provide it to your accountant, and reduce your tax by up to $600 per child."

4. American Opportunity Credit and Lifetime Learning Credit — Up to $2,500 for Education

Is your child in college? Are you paying for their education? Or are they working, but you still support them and help with their studies?

• American Opportunity Credit — up to $2,500 per year for the first four years of higher education (IRC §25A). Crucially, 40% of this amount is refundable even if your payable tax is zero.
• Lifetime Learning Credit — up to $2,000 for students beyond their fourth year or for those taking courses for professional development.

"If you're paying for your child's education — or even if they work and pay for it themselves but live with you and you support them — you can claim them as a dependent and receive an education credit."

Three Mistakes Costing Families Thousands of Dollars

Mistake #1: Filing a Return Yourself, Unaware of Your Rights

This is the most common and most dangerous mistake for newcomers. TurboTax and H&R Block are convenient programs, but they don't know your specific situation. They won't ask about foreign accounts. They won't suggest getting an ITIN for your child. They won't think about the Dependent Care Credit.

"Many people try to save money and file their own returns. But unaware of the benefits that are available, they simply miss them. Sometimes they even fail to file reports that should have been included."

Mistake #2: Not Disclosing Foreign Assets and Accounts

This is no longer just about missing out on benefits — this carries potential penalties starting at $10,000 for each unfiled report.

If you had open accounts outside the US in the year you moved, or rented out an apartment or house abroad, all of this must be reported on your tax return and information returns (FBAR — FinCEN 114, Form 8938).

"We often get clients who haven't disclosed their foreign businesses or accounts for five years. Then, when it's time to apply for citizenship, it turns out their returns are incomplete. Keep in mind that information is exchanged between countries."

Despite the tax treaty between Russia and the US being suspended in August 2024, according to our expert, information exchange continues in practice. The IRS receives data on clients' assets in other countries.

The bottom line: For your first US tax return — only work with a professional.

Mistake #3: Not Getting an ITIN for Children Who Are Not Residents

If your child came with you but doesn't yet have a Green Card or EAD, they won't get a Social Security Number. However, they can get an ITIN (Individual Taxpayer Identification Number).

With an ITIN, you can claim them as a dependent and receive an additional tax credit of $500 (Other Dependent Credit, IRC §24(h)(4)).

"They've been residents here for several years and don't even know they could have claimed a credit starting with their very first tax return."

"Don't Skimp on Your Accountant"

This might sound like an advertisement. But behind these words is specific logic.

An unlicensed tax preparer bears no legal responsibility for your tax return. They might not even sign it.

A licensed IRS Enrolled Agent has passed three rigorous IRS exams, operates under the rules of Circular 230, and faces professional consequences up to losing their license. They won't disappear tomorrow. They won't switch to selling insurance. And they won't leave you to deal with an IRS notice on your own.

"You don't do taxes every day. It's better to pay once a year and sleep peacefully for all the years that follow."

"An accountant bears responsibility just like a lawyer. The IRS constantly monitors those who work under a license."

How to Check an Accountant Before Entrusting Them with Your Tax Return

1. Check their license on the IRS website: irs.gov/tax-professionals/verify-the-status-of-an-enrolled-agent
2. Ensure they sign the return — that's what professionals do.
3. Ask about their PTIN — all tax preparers who charge for their services are required to have a Preparer Tax Identification Number (IRS PTIN).

Who Especially Needs a Professional Accountant

• Recently arrived in the US and filing your first tax return
• Have accounts, real estate, or a business outside the US
• Children without SSNs (need an ITIN)
• Pay for daycare, after-school programs, or college
• Families with two or more children and a middle income
• Have opened or are planning to open a business in Florida
• Planning to apply for citizenship or other immigration documents

About the Expert

Our expert is a licensed IRS Enrolled Agent and IRS Acceptance Agent with accounting experience since 2001. Before moving to the US, she worked as a chief financial officer. She relocated to Florida in 2020, obtained her US licenses, and opened her own practice.

Today, her company is a full-service accounting firm with an office in Orlando (20+ employees). They work with individuals and businesses, offering tax returns, bookkeeping, payroll, business formation and dissolution, tax optimization, ITIN applications, and consultations.

Contact: By phone, WhatsApp, or Telegram — all contacts are on their profile page on the website.

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This material is based on an interview. The information is for informational purposes only and does not constitute individual tax advice. For personalized recommendations, please consult a licensed professional.