JP Tax Solutions LLC

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United States
Ocala, FL
JP Tax Solutions LLC

Bookkeeping & Tax are what we do best. JP Tax Solutions LLC is licensed in FL and specializes in Bookkeeping & Tax.

We are professional, experienced, and affordable. We offer a broad range of services for business owners, executives, and independent professionals. Our firm provides outstanding service to our clients because of our dedication to three underlying principles: professionalism, responsiveness, and quality. Professionalism
We believe our high standards, service, and specialized staff make a differenc

e and are dedicated to ensuring every client receives personal attention. We also know how important it is to stay informed about new developments in tax law and other related topics. As such, we continually educate ourselves through professional organizations to improve our technical expertise and financial knowledge, as well as how to serve our clients better using state-of-the-art technologies. Responsiveness
We provide comprehensive financial services to individuals, small to medium-sized businesses, and other agencies. Dedicated to serving client needs throughout the year - not just at tax time - we strive to respond quickly to any concerns our clients have. Quality
As trusted advisors, we are available to assist our clients at any time to provide insightful advice that enables them to make informed financial decisions. If you have any questions or want to learn more about how we can help you achieve your financial goals, don't hesitate to contact us today.

11/25/2025

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly journal entries, reconcile accounts, prepare internal financial statements and investigate variances, the harder it is to identify and respond to red flags and new business opportunities. These tips can help you close the month quickly. For more ideas on how to streamline your closing process without compromising financial accuracy, call us at (352) 322-7345.

11/24/2025

The One Big Beautiful Bill Act (OBBBA) brings major tax savings and planning opportunities for many businesses. Here are four highlights: 1) 100% first-year bonus depreciation for qualified new and used assets and production property, 2) an enhanced research and experimentation deduction, 3) expanded gain exclusions for qualified small business stock. 4) permanent 20% qualified business income deduction for pass-through businesses and sole proprietorships. Contact us at (352) 322-7345 to review your tax strategies and lock in benefits under the OBBBA.

11/21/2025

The IRS has announced its annual inflation-adjusted income tax brackets and other amounts. For 2026, the highest rate (37%) will apply to taxable income over $640,600 for singles and heads of households ($768,700 for married couples filing jointly and $384,350 for married taxpayers filing separately). The standard deduction is increasing to $16,100 for singles and married taxpayers filing separately ($32,200 for married couples filing jointly and $24,150 for heads of households). Single filers age 65 or older will be eligible to take an additional deduction of $2,050 ($1,650 per spouse for married filers). Alternative minimum tax exemptions and adoption credits are among the other items that have been adjusted for 2026. Contact us at (352) 322-7345 if you have questions about the impact of inflation adjustments on your tax situation.

11/19/2025

Looking to reduce your tax bill and benefit a family member? If you have appreciated or dividend-producing investments, consider transferring them to an adult child in the 0% long-term capital gains tax bracket. Your son or daughter may be able to sell those assets and pay no federal tax on the gains or receive dividends free of federal tax. This strategy can be powerful, but it comes with some fine print. Let’s talk about how it could work in your situation. Contact us at (352) 322-7345.

11/18/2025

Does your business pay independent contractors? A provision in the One Big Beautiful Bill Act, signed into law on July 4, 2025, will reduce your required reporting. Currently, businesses that pay $600 or more for services rendered by a contractor must issue a Form 1099-NEC (Nonemployee Compensation). Beginning with payments made in 2026, the threshold increases to $2,000 and will be adjusted for inflation in subsequent years. This change will simplify compliance and reduce the risk of penalties for missed filings. Contact us at (352) 322-7345 with questions about how to proceed.

11/17/2025

Starting in 2026, tax law changes could increase the risk of getting hit by the alternative minimum tax (AMT). This is especially true for high earners. At least some income-based phaseout thresholds for the AMT exemption will drop, and the exemptions will be phased out twice as fast as in 2025. Add to that the impact of larger state and local tax deductions (which aren’t AMT-deductible), and more taxpayers could face the AMT. Call us at (352) 322-7345 for help assessing your risk and finding strategies you can implement now to minimize your taxes.

11/14/2025

Taxpayers involved in a dispute with the IRS may want to consider using one of the IRS’s alternative dispute resolution (ADR) mediation programs. These programs can help taxpayers efficiently resolve tax issues with the IRS. Taxpayers for whom mediation can be a good option include those who don’t have many disputed issues or who’re seeking an early resolution to issues under audit. Mediation doesn’t replace the audit or collection processes. The IRS’s Independent Office of Appeals has five ADR programs: Fast Track Settlement, Fast Track Mediation Collection, Post Appeals Mediation, the Rapid Appeals Process and Early Referral. Call us at (352) 322-7345 for details if you have a tax dispute with the IRS.

11/12/2025

Did you receive an IRS audit notice but believe you did nothing wrong? Some audits are random, and some can be resolved by mail. Others are triggered by red flags that may put the IRS spotlight on your tax return. Keeping up with ever-evolving tax laws can be challenging, but one common red flag that may draw attention is a sudden, unexplained spike or drop in your reported income from one year to the next. While legitimate income changes do happen, it’s important to be prepared to justify them. Contact us for help with this matter at (352) 322-7345.

11/11/2025

Conventional wisdom says your mortgage should retire before you do. If you pay it off, you’ll enjoy a lower cost of living — not to mention the psychological boost of owning your home! But if mortgage interest provides an income tax advantage or you need to prioritize paying off other, high-interest debt, you may want to hold on to your mortgage. Contact us at (352) 322-7345. We can help you weigh the pros and cons.

11/10/2025

A sound succession plan is a must for every business owner. But even the best-laid strategies can go awry. In fact, it’s not unusual for changing circumstances to affect the feasibility of a succession plan. We’d be happy to review the strengths and potential weaknesses of yours. And if you don’t have a succession plan yet, we can help you create one. Please contact us at (352) 322-7345.

11/07/2025

Investors willing to make long-term investments in economically distressed communities have a tax incentive for doing so: the Qualified Opportunity Zone (QOZ) program. It allows investors to defer the tax (and potentially ultimately reduce it) on recognized capital gains by reinvesting those gains in Qualified Opportunity Funds (QOFs) that, in turn, invest in QOZs. The IRS has issued guidance on two QOZ program-related provisions of the One Big Beautiful Bill Act: the definition of “rural area” and the application of the substantial improvement threshold for certain improvements to property in a QOZ located entirely in a rural area. Contact us at (352) 322-7345 for more information.

11/05/2025

College costs like tuition, books, computers and, generally, room and board have long qualified for tax-free 529 plan withdrawals, with no annual limit. For elementary and secondary school expenses, the limit has been $10,000 per year per student, with only tuition qualifying. Starting with expenses incurred after July 4, 2025, additional K–12 expenses like books and instructional materials also qualify, with the cap increasing to $20,000 per year in 2026. Also effective after July 4, 2025, certain credentialing programs qualify. Call us at (352) 322-7345 to discuss how to make the most of 529 plans.

Address

Ocala, FL
34471

Website

http://linktr.ee/jptaxsolutions, http://www.jptaxsolutions.com/

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