FLORIDA CPAs FOR HEALTH CARE PROFESSIONALS

Our mission is to provide individuals and businesses with accounting services like tax preparation, payroll, business valuations, audits, strategic and financial planning, IRS representation, consulting and more. We support you in order to protect and grow your assets and make informed financial decisions. We have offices in Miami and Punta Gorda and work with professionals and businesses across the US and internationally.

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CPA in Florida to make the complex simple.

Our Florida CPAs and Advisors, with offices in South Miami and Punta Gorda, offer a wide range of financial services for businesses as well as for individuals. Your success is our highest priority. When you need a CPA Miami, FL trusts, Parlade Schaefer Schortz CPAs PA is here for you!


Healthcare CPAs you can trust.

At Parlade Schaefer Schortz CPAs, PA, you benefit from our team’s decades of experience across a variety of industries, especially healthcare. We have a passion for excellence in accounting and our financial services are known for high standards. Each year, our Florida CPA team adds education and training so that we continually provide timely, accurate financial advice in a changing market. Our convenient locations in Punta Gorda, and Miami, FL, compliment our medical accounting services anywhere in the US.


We provide tax services, financial planning, consulting, audits and much more for the healthcare industry and individuals, both domestic and international, as well as businesses of every size. We invite you to visit our Services page for more details. Start down the path to securing your financial future today. One of the top Miami CPA firms, you can contact our office for a consultation or phone call M-F.

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Joseph R. Schortz, Justin A. Schaefer, Jaime L. Parlade - PSS CPAs Partners

MEET THE PARTNERS

Jamie L. Parlade, CPA in Florida | Top Healthcare CPA Firm and accounting services in Miami and Punta Gorda

Jaime L. Parlade, CPA

Jaime attended the University of Florida in Gainesville, FL, and earned his BSBA, Finance in 1995. He took all the undergraduate accounting requirements via post-baccalaureate studies at Florida International University (FIU).


Jaime began his career at Price Waterhouse, now known as PricewaterhouseCoopers, LLP (PwC) in 1997. Jaime sat for the CPA exam in 1998 and passed all four sections on the first try. While at PwC, he attended FIU and received an MS in Taxation in 1999.


In 2002, Jaime, along with his current partner, Justin Schaefer, decided to leave the big accounting firm world and start their own Florida CPA firm. Since that time, he Justin, and Joseph have had great success (and a lot of fun) building Parlade Schaefer Schortz CPAs, PA.

Justin A. Schaefer, CPA in Florida | Top financial advisors and healthcare CPA firm in Miami and Punta Gorda, FL

Justin A. Schaefer, CPA

Justin received his Bachelor’s degree from Florida International University in Miami, followed by a Master’s of Science in Accounting, with a concentration in Taxation from the University of Notre Dame in South Bend, Indiana. He started his career at PricewaterhouseCoopers in the area of international taxation. Justin went on to work at Deloitte and Touche, until he ultimately joined his partners, Jaime Parlade and Joseph Schortz, in Parlade Schaefer Schortz CPAs, PA.


Education and civic involvement are important aspects of Justin’s life. He has been involved with the boards of Camillus Health Concern, Mount Sinai Hospital Founders Association, and The Cushman School.

Joseph R. Schortz, CPA in Florida | Top Dental and Healthcare CPA firm for accounting and tax deductions

Joseph R. Schortz, CPA, CGMA

With more than 40 years of experience in both the public and private accounting sectors, Joseph’s practice areas include tax planning and preparation for resident and non-resident individuals, partnerships, estates, trusts, corporations, and non-profits; business, estate and trust planning; compilations, reviews, and audits of financial statements; insolvency and bankruptcy; advisory services for international entertainers; and litigation support.

 

Prior to establishing his own private firm, Joseph provided a broad range of tax preparation and audit services, as well as other advisory and consulting services, including litigation support. He served nine years as a Partner at Kelson, Merves & Schortz, CPAs, and ten years as a sole practitioner in New Jersey, before selling his firm in 1996.

TAX RESOURCES

From Our CPA Blog

06 Mar, 2024
Student debt, especially for medical doctors and dentists, is ridiculously high. The average debt is between $200,000 and $293,000, a sizeable stressful burden. Here is a list of 10 tips to help reduce student debt faster. 1. Income-Driven Repayment Plans (IDR) IDRs calculate your monthly payment based on your income rather than the total debt, which can be particularly beneficial during residency. This approach makes repayments more manageable and may qualify you for federal programs that cover part or all of the interest accruing on your loans. 2. Refinancing Securing a lower interest rate through refinancing is a prime strategy for alleviating the weight of student loans. For example, refinancing companies like SoFi offer reduced rates, potentially cutting the interest from 7% to as low as 2.25%, alongside perks such as debt forgiveness in specific scenarios, making significant savings on interest payments a reality. 3. Military Service Repayment Programs Committing to military service can expedite debt reduction through substantial loan repayment programs and stipends, with offerings like up to $120,000 in loan repayment for active duty members and sizable sign-on bonuses for specific specialties. 4. Federal Loan Forgiveness Programs The Public Service Loan Forgiveness (PSLF) offers a route to cancel the remaining debt after ten years of service in high-need areas or non-profit sectors. Other federal initiatives include the Indian Health Services and National Institutes of Health Loan Repayment Programs, which provide substantial financial assistance in return for service commitments. 5. State Loan Repayment Assistance Many states have programs to attract health professionals to serve in areas with significant healthcare shortages, offering loan repayment as an incentive. Research through resources like the National Health Service Corps and the AAMC can uncover these opportunities. 6. Tax Deductions Taking advantage of tax deductions for student loan interest and tuition can yield savings, reducing taxable income and stretching your dollars further. 7. Biweekly Payments Splitting your monthly payment into biweekly contributions can reduce your interest over the life of the loan and shorten the repayment period, as you'll make one extra full payment each year. 8. Loan Forgiveness for Volunteers Organizations like AmeriCorps, Peace Corps, and certain volunteer programs offer loan forgiveness or repayment assistance in exchange for service, presenting a dual opportunity to contribute to social causes while easing debt burdens. 9. Employer Repayment Programs Some employers offer student loan repayment as part of their benefits package. Investigate whether your workplace or potential employers provide such incentives, which can directly reduce your loan balance. 10. Automate Payments Many loan servicers offer a reduced interest rate for setting up automatic payments. This ensures you never miss a payment and lowers the total interest paid over time. By embracing these strategies, from seeking better interest rates and leveraging loan forgiveness programs to taking advantage of tax deductions and employer benefits, you can navigate a faster route to clearing dental or medical school debt. While the journey may require sacrifices and strategic planning, the freedom from debt is well worth the effort. We at PSSCPAs are financial advisors in Florida specializing in helping medical professionals reach their financial dreams, don’t hesitate to contact us.
07 Feb, 2024
Comparing the tax benefits of a Traditional IRA (Individual Retirement Account) and a SIMPLE IRA (Savings Incentive Match Plan for Employees) can be crucial in making informed decisions about retirement planning. Here's a breakdown of the tax benefits of each: Traditional IRA Tax Benefits 1. Tax Deductibility: Your contributions to a traditional IRA are typically deductible on your yearly income tax. This reduces your annual taxable income, potentially lowering your overall tax bill. 2. Tax-Deferred Growth: Investments within a Traditional IRA grow tax-deferred, which means you only pay taxes on the gains once you begin withdrawing money from the account during retirement. 3. Income Limits: You lose the contribution tax deduction if you exceed the income threshold and have a work retirement plan. However, there are no income limits on having a Traditional IRA. 4. Early Withdrawal Penalties: If you withdraw funds from a Traditional IRA before age 59 ½, you likely will be penalized a 10% early withdrawal fee, though there are some exceptions. SIMPLE IRA Tax Benefits SIMPLE IRA Tax Benefits 1. Tax Deferral: Contributions to a SIMPLE IRA are pre-tax, having a greater impact on reducing your taxable income. 2. Employer Contributions: Employers must contribute to a SIMPLE IRA plan, either through matching or non-elective contributions. These contributions are tax-deductible for the employer and grow tax-deferred until withdrawn. 3. Employee Contributions Employees can contribute to a SIMPLE IRA through salary deferral contributions, which are also tax-deductible. 4. Early Withdrawal Penalties: Similar to Traditional IRAs, SIMPLE IRAs are penalized 10% for early withdrawal before 59 1/2, with a few exceptions. Traditional IRA vs SIMPLE IRA Tax Benefits Traditional and SIMPLE IRAs offer tax-deferred growth, so you don't pay taxes until you choose to cash out. Traditional IRAs may offer more flexibility in investment choices than SIMPLE IRAs, typically offered through an employer. SIMPLE IRAs require employer contributions, which can be advantageous for employees. Both accounts have penalties for early withdrawal before age 59 ½. The choice between a Traditional and SIMPLE IRA often depends on factors such as employment situation, income level, and individual retirement goals. If you have questions, we are tax professionals and financial consultants in Florida, helping our clients plan and achieve their financial goals. We are here for you and can help you choose the best option for planning your retirement. You can talk to us here to get help with navigating your financial journey.
08 Jan, 2024
Does Florida Have an Inheritance Tax? Florida is renowned for its sunshine, beautiful beaches, and favorable tax climate. One key aspect that separates the state is its lack of an inheritance tax. Unlike some other states in the U.S., Florida does not impose an inheritance tax or estate tax. Benefits of Florida’s No Inheritance Tax: 1. Attractive for Retirees: Florida is an optimal state for retirees because of its beautiful weather and favorable tax climate. The absence of an inheritance tax adds to its appeal, allowing retirees to pass on their wealth to their heirs without additional taxes. 2. Stimulates Economic Growth: The absence of an inheritance tax encourages wealthy individuals to reside in or relocate to Florida, leading to increased economic activity. 3. Retained Family Wealth: Families in Florida can retain a larger portion of their wealth, as state-level inheritance taxes do not erode it. This allows for the preservation and growth of family assets over generations. While the benefits of not being taxed, really don't need an explanation, there are other taxes that may be imposed upon inherited property. While Florida does not have an inheritance tax or estate tax, federal tax implications could be associated with liquidating inherited assets, depending on the nature and value of those assets. Here are some considerations: Federal Estate Tax: The federal government imposes an estate tax on the transfer of assets upon an individual's death. However, this tax generally applies only to vast estates. As of 2022, the federal estate tax exemption is relatively high, and therefore inheritance taxation isn't a concern for most. However, note tax laws can change at any time. Capital Gains Tax: Capital gains tax may apply when inherited assets, like property and stocks are liquidated. The basis of the assets is typically "stepped up" to their fair market value at the time of the decedent's death, which can reduce the capital gains tax liability. However, any appreciation in value after the inheritance may still be subject to capital gains tax. Income Tax on Retirement Accounts: If the inherited assets include retirement accounts, the beneficiary may be required to pay income tax on distributions from these accounts. The tax treatment depends on the type of retirement account and the beneficiary's withdrawal decisions. State Taxes in the Decedent's State: While Florida does not have an income tax, if the decedent lived in a state with an income tax, their estate may have state-level tax obligations. Questions: Florida Financial Advisors & Tax Professionals If you have any questions regarding inheritance and taxation, we are a team of financial advisors and tax professionals in Florida dedicated to guiding professionals to their best financial future. You can reach us here .
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