Income: None
The Florida Constitution limits any tax on the income of natural persons to the amount that could be credited against federal income tax, which in practice means none.
Financial planning in Florida
A flat-fee financial advisor serving Florida.
No income tax and no estate tax — so the planning is about the state you left.
NoneFlorida income tax, tax year 2026.
NoneFlorida estate tax.
$150–$1,650/qtrFlat quarterly memberships, no AUM fee, no annual commitment.
Minnetonka-basedA Minnesota firm serving Florida households virtually; no Florida office is claimed.
Direct answer
What Is Different About Financial Planning in Florida?
Florida has no personal income tax, and its constitution caps any tax on the income of natural persons at what could be credited against federal tax — effectively zero. There is no state estate, inheritance or gift tax either. For a household that has moved here from a high-tax state, the questions shift to establishing domicile properly, timing any remaining income from the former state, and using the low-tax years for Roth conversions before required distributions begin.
Florida tax treatment
How Florida taxes a planning household
Figures are for tax year 2026, each read from the source beside it. Thresholds and rates are revised regularly; confirm the current year before acting on any of them. What these rules change in a household’s plan, from the order accounts are drawn to the timing of Roth conversions, is set out in the retirement tax planning overview.
Worth doing here
Planning opportunities specific to Florida
Things that are worth doing in Florida that would not be worth doing, or would work differently, somewhere else.
Establishing domicile properly
The state you left will look hard at whether you really moved. Where you spend your days, where your documents and doctors are, and when the change happened all matter, and the year of the move is usually the one that gets audited.
Roth conversions in the low-tax years
With no state layer, the years between retiring and required distributions are the cheapest time to convert tax-deferred savings, and that decision is now purely about federal brackets.
Equity granted somewhere else
Many South Florida households arrive holding equity awards granted while they lived in another state. That state may still tax them when they vest or are exercised, which is its own planning problem.
Federal and state, together
How Florida Tax Interacts With Your Federal Return
With no state income tax, the federal deduction for state and local taxes is about property tax alone, and the cap rarely binds. Federal planning is the whole game for a Florida household.
The federal deduction for state and local taxes is $40,400 for tax year 2026 and begins to shrink above $500,000 of modified adjusted gross income, down to a floor of $10,000, and is scheduled to return to $10,000 after 2029. The federal estate tax exclusion is $15,000,000 per person for deaths in 2026. IRS, Instructions for Schedule A (2025), line 5e; IRS, tax year 2026 inflation adjustments (Rev. Proc. 2025-32).
Cities
Where we work with Florida households
Each city page covers what is local — how households there tend to be paid, what the first meeting usually covers — and inherits this state layer.
Miami, FL
South Florida has attracted a run of finance and technology relocations, including Citadel in 2022 and Palantir, which moved its headquarters here in February 2026.
Tampa, FL
Tampa Bay combines a large financial-services sector, with Raymond James and Jabil headquartered across the bay in St.
Orlando, FL
Orlando is paid by the theme-park and hospitality industry, whose parents are large public companies, by Lockheed Martin's missiles and training businesses and the simulation cluster around them, by AdventHealth and Orlando Health, by the University of Central Florida, and by the Darden Restaurants headquarters.
Naples, FL
Naples is a retirement and second-home market first: a large population of retired executives, business owners and professionals, many of them from Minnesota, Illinois, Ohio and Michigan, alongside the NCH Healthcare System, Arthrex's medical-device headquarters and the professional firms that serve wealthy households.
Watch and learn
Financial Planning, Explained Clearly
Start with three videos selected for this page, then use the controls to explore every published Flames FP video guide.
Videos 1–3 of 14
What Nobody Tells You About Earning $400K a Year
See why a $400K income can still leave too little investable margin and how taxes, lifestyle growth, and deliberate investing change the result.
The RSU Strategy Most $300K Tech Earners Miss
Understand taxation at vesting, check the withholding gap, and turn each RSU vest into a deliberate diversification and household-planning decision.
The 3-Account System for a $250K Income
Use cash reserves, tax-advantaged accounts, and a taxable brokerage account to turn a strong income into a repeatable wealth-building system.
The 6 Levels of Wealth for $200K+ Households
Use six stages to separate a high income from the wealth it actually creates.
The Most Underrated Retirement Account
How a taxable brokerage account can support retirement flexibility alongside tax-advantaged accounts.
How to Decrease Your Tax Bill
Review practical tax-planning decisions that can connect income, investments, retirement, and withholding.
Should You Invest or Spend Your HSA?
A practical framework for deciding how an HSA fits healthcare costs, taxes, and retirement planning.
Four Common Backdoor Roth IRA Mistakes
Understand contribution, conversion, pro-rata, and reporting mistakes before they create tax problems.
Direct Indexing vs ETFs in a Taxable Account
Compare diversification, tax management, cost, and complexity before changing an investment strategy.
My New Favorite Account to Gift Money to Kids and Grandkids
Compare the new child investment account with 529 plans, custodial accounts, Roth IRAs for earned income, and the family's actual goals.
Estate Planning Documents You May Need
A plain-English review of wills, powers of attorney, healthcare directives, beneficiaries, and trusts.
Flat Fee vs 1% Financial Advisor
See how a percentage fee changes in dollars as a portfolio grows and what to compare beyond the headline rate.
How Much Life Insurance Do You Need?
Think through income replacement, debt, children, childcare, education, and family risk.
Five Money Mistakes High Earners Make
Common coordination gaps involving taxes, cash flow, investments, insurance, and estate planning.
Common questions
Florida Financial Planning Questions
Does Florida tax retirement income or Social Security?
No. Florida has no personal income tax.
Is there a Florida estate tax?
No. Florida has no estate, inheritance or gift tax; only the federal estate tax applies.
What should someone who just moved here plan for?
Documenting the change of domicile so the former state accepts it, working out what income that state can still tax, and using the low-tax years for Roth conversions.
Does Flames Financial Planning have an office in Florida?
No. Flames Financial Planning is based in Minnetonka, Minnesota, and serves Florida households through a virtual planning relationship. This page describes the service area and does not claim a Florida office.
Is Florida tax planning part of the relationship?
Yes. State tax treatment shapes withdrawal order, Roth-conversion timing, and where investments are best held. Planning includes tax guidance and review of a completed return; Premier adds tax projections and preparation and filing through an independent tax partner.
Next step
See what a flat-fee relationship would cost a Florida household.
A discovery meeting covers your situation, what you pay now, and whether a fixed quarterly membership is a better fit.