JLP Accounting & Tax Service Corp.

11/07/2025

Please check out our new website

At JLP Accounting & Tax Service Corp, we provide, tax preparation, accounting and bookkeeping services. Our corporate clients range from startups to medium in revenue size. Along with providing tax preparation for our business clients, we offer multi-state tax preparation, for individuals. Whether y...

07/15/2025

12/06/2024

As the holiday season inspires generosity, remember that your charitable contributions made by December 31 can also provide valuable tax benefits.

As you wrap up your contributions, keep these important points in mind:

✅ Verify that your donations are made to IRS-approved charitable organizations.
✅ Keep thorough records for your tax documentation.
✅ Remember the deduction limits: generally, cash donations up to 60% of your AGI and non-cash donations up to 50% of your AGI for public charities.

If you have any questions or need guidance on your charitable giving strategy, our team is here to assist you!

12/02/2024

With the year drawing to a close, we wanted to highlight a few important tax deadlines that may be relevant to your business. Being aware of these dates can help you stay prepared and on track.

📅 December 31, 2024:
Last day to make charitable donations for the 2024 tax year.

Final day to purchase capital assets for Section 179 and bonus depreciation deductions.

Last chance to pay out employee bonuses for 2024 deductions.

📅 January 31, 2025:
Deadline for sending W-2 and 1099-NEC forms.

📅 March 17, 2025:
S-Corp and Partnership Returns (Forms 1120S and 1065) are due.

📅 April 15, 2025:
Deadline for C-Corp and individual returns (Forms 1120 and 1040).

If you need support preparing for tax season, our team is here. Reach out anytime.

11/28/2024

From our families to yours, we extend our warmest wishes for a wonderful Thanksgiving filled with great food, good company, and plenty of joy.

Our office will be closed on Thursday, November 28, and Friday, November 29, but we'll be back and ready to serve you on Monday, December 2.

Enjoy the holiday!

11/11/2024

This Veterans Day, we invite you to join us in honoring the brave men and women who have served our nation.

Our veterans have shown incredible bravery, dedication, and resilience, ensuring our freedoms and security. Whether serving at home or abroad, in times of peace or conflict, their contributions are invaluable.

To all the veterans in our network, thank you for your service.

11/01/2024

Daylight Saving Time ends on Sunday, November 3, 2024, at 2:00 a.m.! Don't forget to set your clocks back and enjoy that extra hour of sleep! 💤

Most devices will adjust automatically, but remember to manually update your vehicle's clock, wall clocks, and certain household appliances.

Enjoy the brighter mornings, and let me know if you need any assistance.

10/31/2024

As we celebrate Halloween, we extend our warmest wishes for a fun and safe celebration. Whether you are trick-or-treating, hosting a gathering, or simply enjoying the fall weather, we hope you and your family have a wonderful time.

As always, if you have any questions or need assistance as we enter November, please feel free to reach out to our team. We are here to help.

10/23/2024

We know accounting terminology can sometimes sound like another language 🤨 so we thought we’d help out by defining some accounting terms in a three-part series,

In this second round, we’re focusing on common business accounting terms. Take a look below!

✏️ Accounts receivable and payable: Accounts receivable shows how much customers or clients owe you for your goods or services. Accounts payable records how much you owe your suppliers or other creditors.

✏️ Balance sheet: A balance sheet records how much you own (your assets), what you owe (your liabilities), and any shareholder or owner equity.

✏️ Profit and loss statement or income statement: This statement captures your business’s revenue and expenses over the given time period. It will reveal your final net earnings or losses.

Hope that was helpful! We’ll be back to share another round of definitions soon.

In the meantime, do any other accounting terms stump you? If so, share them in the comments below, and we’ll respond with a brief definition ⬇️

Have more complex accounting questions? We’re here for you–give us a call or shoot us an email anytime!

10/15/2024

Major life events like getting married, buying a home, or having a baby bring significant adjustments — and tax implications! Here are general questions to ask for each circumstance:

💍 Getting Married: What's the best filing status for our financial situation? Should we update our withholding?

🏡 Buying a House: Do I get a tax break when I buy a house?

👶 Having a Baby: Will I be eligible for the child tax credit?

💼 Changing Jobs: I'm making more money. Should I bump up my withholding?

🎓 Sending Kids to College: Can I claim tax credits and deductions for education-related expenses? Does it make more sense for my child to take the credits?

💔 Going Through a Divorce: What filing status do I qualify for after a divorce?

👴 Getting Ready to Retire: Should I be concerned about the tax implications of required minimum distributions? Will I pay tax on my Social Security benefits?

If you've recently experienced a significant life change or expect to, we’re here to help answer these questions, with guidance tailored to your unique situation. Feel free to reach out anytime.

10/10/2024

Giving to causes you care about not only supports impactful organizations but also brings financial and estate benefits.

Swipe through to explore smart ways to enhance your charitable giving! From donating appreciated assets to strategic timing with donor-advised funds, there are many paths to impactful generosity.

Reach out with questions or to discuss more about charitable giving. Our team is always ready and willing to help.