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Principal - Shareholder
Director of Tax Services

James Waters started with the firm in 1991 and a year later became a shareholder of Garcia & Ortiz. Mr. Waters has extensive experience consulting with privately held companies in all aspects of the life of the business including formation, current operations, reorganization, and liquidation planning. Jim is the Director of Tax Services with the primary responsibility for the final review of personal, corporate, and partnership tax returns, supervision, and training of accounting staff in the preparation of all corporate and partnership tax returns, including consolidated and multi-state tax returns.

He has extensive expertise in assisting individuals living in the U.S. and abroad with tax filings under the IRS Streamlined Compliance Program and planning and compliance requirements in connection with Controlled Foreign Corporations, Foreign Grantor and Non-Grantor Trusts, and U.S. tax compliance requirements for U.S. taxpayers living abroad.

Jim Waters is heavily involved in tax planning and compliance for a wide range of industries including domestic and international taxes and business operations. Extensive experience in the hospitality industry, manufacturing, construction, real estate development, wholesale and retail distributors, professional practices, and non-profit organizations. Special expertise in state and local taxation including sales tax and ad valorem taxes.

Mr. Waters provides recommendations to select and implement various retirement plans including 401(k), defined contribution, target plans, etc. Planning and assistance in implementing other taxable and non-taxable fringe benefit packages for management and staff. He assists in compliance with federal wage and hour rules.

Jim has special expertise in all aspects of federal and state taxation of For Profit, Tax Exempt, and Not For Profit Clubs. Compliance services include the preparation of federal and state income tax returns and state tangible and intangible tax returns. Special expertise in assisting clubs in implementing proper controls to properly apply Florida Sales Tax rules, choosing specific accounting software packages for billing, fixed asset management, and financial reporting purposes, including point of sale systems.

Mr. Waters has past experience as a Contract Auditor with the Florida Department of Revenue for Corporate Income Tax and Florida Sales tax for the period 1995 - 2001. Duties included oversight of contract performance requirements and review of completed case audit files.

  • Bachelor of Business Administration - Temple University - Major in Accounting
  • Certified Public Accountant - Florida and Maryland
  • Member, American Institute of Certified Public Accountants
  • Member, Florida Institute of Certified Public Accountants
  • Affiliate Member, the Hillsborough County Bar Association, Tax Section
  • Active in many community non-profit organizations in an advisory capacity