Erwin, Fountain & Jackson, P.A.

08/25/2026

Planning Ahead: Can Your Business Defer Tax on Advance Payments?

As year-end approaches, reviewing your income timing could make a significant difference in your business’s 2026 tax liability.

If your business uses the accrual accounting method, you may be eligible to defer recognizing taxable income on advance payments such as prepayments for goods, services, subscriptions, or software licenses until 2027.

Key Qualifying Criteria:

Revenue must be treated as earned in a future year (or reflected in a later year on your Applicable Financial Statement).

Payments must be for IRS-eligible goods, services, or contracts.

Navigating IRS timing rules requires careful coordination to maximize tax efficiency.

Read our latest blog post for the full breakdown:
https://efjcpa.com/plan-now-for-deferring-tax-on-advance-payments/

Contact our Jacksonville CPA team today at: (904) 733-4335

With year-end approaching, accrual-basis businesses may have a powerful opportunity to reduce their 2026 tax liability by deferring revenue recognition on eligible advance payments until 2027. Learn the key IRS requirements, financial statement rules, and qualifying payments to optimize your year-en...

08/18/2026

IRS Mileage Rate Increase Alert!

Due to rising fuel costs, the IRS has increased standard cents-per-mile rates for the second half of 2026 (effective July 1, 2026):

• Business Travel: 76¢/mi (up from 72.5¢)
• Medical & Moving: 23.5¢/mi (up from 20.5¢)
• Charitable Driving: 14¢/mi (unchanged)

Rates apply to electric, hybrid, gas, and diesel vehicles.
Tip: Protect your deduction by keeping accurate, real-time mileage logs!

Have questions about optimizing vehicle deductions for your business? Contact our Jacksonville CPA team today or visit https://efjcpa.com.

07/30/2026

Looking to attract and retain top talent for your small business without the administrative headache?

Offering competitive retirement benefits is one of the most effective ways for small business owners to keep skilled employees on board—and build long-term value for their business.

If you've avoided set-up because of concerns over high costs or complex management, you’re not alone! Fortunately, there are straightforward, cost-effective options available, such as a Simplified Employee Pension (SEP) plan.

In our latest blog post, we break down simple, manageable retirement solutions designed specifically with small business owners in mind.

Read the full article on our blog: https://efjcpa.com/simple-retirement-solutions-for-small-business-owners/

At Erwin, Fountain & Jackson, P.A., we serve as trusted advisors to businesses and entrepreneurs throughout Jacksonville and Northeast Florida.

Reach out to our team today to discuss how a tailored retirement strategy can benefit both your business and your employees!

(904) 733-4335

Explore simple retirement options like SEP plans to attract talent without the administrative burden. Get expert advice from Erwin, Fountain & Jackson, P.A.

07/03/2026

As we celebrate Independence Day, our team wants to wish all of our wonderful clients, friends, and neighbors throughout Jacksonville and Northeast Florida a safe, joyful, and relaxing holiday weekend.

05/28/2026

The IRS has officially expanded its online Business Tax Account (BTA) platform. Previously only available to sole proprietors and corporations, this self-service digital tool is now open to:

• Partnerships
• Tax-exempt & nonprofit organizations
• Federal, state, and local governments
• Indian tribal governments

What does this mean for you?

Managing your federal tax responsibilities just got a whole lot easier. Through the secure BTA portal, eligible entities can now skip the long phone hold times and handle routine tasks online, including:

• Viewing tax balances and full payment histories.
• Making secure business tax payments directly.
• Downloading select digital notices and eligible payroll/income transcripts.

We’re Here to Help You Navigate the Changes

While the IRS platform makes accessing your tax data easier, managing complex compliance and maximizing your tax strategy still requires an experienced partner.

Read the full breakdown on our latest blog post, or reach out to our Jacksonville office today to discuss how we can help strengthen your business strategy! https://efjcpa.com/irs-expands-business-tax-account-access-to-more-entities/

The IRS expands Business Tax Account access to partnerships & nonprofits. Track balances, payments & notices online with ease. Trusted tax advice from Erwin, Fountain & Jackson, P.A.

04/28/2026

Getting a letter from the IRS can feel intimidating, but there's usually a straightforward solution!

From simple math corrections (CP12) to identity verification requests, most notices are just the IRS asking for more information. Our latest blog post breaks down the 5 most common IRS notices, what they mean for your refund, and most importantly how to respond.

Read the full guide here: https://efjcpa.com/what-to-know-if-you-receive-an-irs-notice/

Received a letter from the IRS? Don’t panic. Learn what a common IRS notice like CP14 and CP2000 mean and how to respond effectively to protect your tax status.