TCS & Associates CPAs

06/16/2026

Holding real estate within your operating company may lead to unfavorable tax outcomes and increased risk. For example, office or warehouse space owned by a C corporation is generally subject to double taxation when it’s sold. Or, if a customer is injured on company property, other business assets could be at risk. Separating real estate into its own entity, such as a limited liability company or partnership, can help reduce your exposure and provide greater flexibility for long-term planning. Call us at (904) 347-2050 to review your business structure and determine the best fit for your situation.

06/15/2026

Your 2025 individual income tax return can provide a treasure trove of tax-planning ideas for 2026. We can dig into your 1040 and uncover potential strategies you can implement this year to reduce your 2026 taxes. We also can assist with filing extended 2025 returns. Call us at (904) 347-2050 to set up an appointment.

06/12/2026

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking and toilet facilities could qualify as a home for the mortgage interest itemized deduction. Itemizers may also be able to deduct eligible state and local sales tax paid on a boat, subject to applicable limits. Vessels used in bona fide businesses, such as charter fishing or sightseeing, can generate deductible business expenses. Before assuming your boat delivers tax savings, contact us at (904) 347-2050 to learn more. We can help determine your vessel’s eligibility and provide guidance on substantiating any write-offs.

06/10/2026

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Email from TCS & Associates CPAs Get the latest TCS news here.     June Newsletter Volume 91   Summer Updates Tax Extension Deadlines If we've filed an extension for your tax return, please take note

06/09/2026

Even when your finance and accounting (F&A) team seems to be firing on all cylinders, they may feel burdened with heavy workloads and tight deadlines. Bringing in an external accountant can ease the pressure on your internal team and keep your business running smoothly behind the scenes. If your accounting and bookkeeping workload is piling up, we’re here to help. Call us at (904) 347-2050 to learn how we can support your business.

06/08/2026

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effect in 2013, taxpayer incomes have generally grown significantly. So more taxpayers are getting hit with this additional tax. The NIIT applies to the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the applicable threshold. And it kicks in long before the top short- and long-term capital gains rates apply. We can help you manage potential NIIT exposure. Contact us at (904) 347-2050.

06/07/2026

America’s big 250th is only one month away! Celebrate with us as we launch the largest July 4th fireworks show in Jax history.

Where: Riverfront Plaza
When: July 4th, 4-9:30pm

Bring your family and enjoy live music, food trucks, face painting, and of course fireworks.

Visit events.coj.net for more info!


Parking availability include:

Southbank
- Water Street Garage = 541 Water St., Jacksonville, FL 32202
- Courthouse Garage = 151 Clay St., Jacksonville, FL 32202
- Jax Center Garage = 1 W. Bay St., Jacksonville, FL 32202
- Yates Garage = 200 E Adams St., Jacksonville, FL 32202

Northbank
- DCPS Parking Lot = 1701 Prudential Dr., Jacksonville, FL 32207
- Under the Acosta Expressway = 901 Museum Cir., Jacksonville, FL 32207
- Former MOSH Parking Lot = 1025 Museum Cir., Jacksonville, FL 32207

06/06/2026

Are you a newlywed? Don’t forget that getting married also means tax filing changes. Check out resources to keep you on track: www.irs.gov/lifeevents

06/05/2026

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “maybe.” This tax break allows eligible sole proprietors and owners of “pass-through” entities to deduct up to 20% of QBI. Pass-through entities include partnerships, S corporations and most limited liability companies. However, income from a rental real estate activity is QBI only if the activity rises to the level of a trade or business or meets an IRS safe harbor, which generally requires separate records, sufficient rental services and specific documentation. Various limits and other restrictions also apply. Call us at (904) 347-2050 to learn more.