TCS & Associates CPAs

TCS & Associates CPAs We are more than just a CPA firm, we help clients maintain financial viability in the present, while taking a proactive approach to achieve future goals.

We help business owners develop a strong understanding of their business, which allows them to make educated decisions, to help achieve their desired level of success.

07/19/2026

Topic No. 458, Educator Expense Deduction

07/19/2026

Summer often means extra help for many businesses. If you're hiring seasonal or part-time employees, the reminds employers that these workers are subject to the same federal income tax withholding, Social Security, and Medicare tax rules as other employees.
If you're a seasonal employer, you also may not have to file Form 941 for quarters when you paid no wages and have no tax liability. Check the "seasonal employer" box in Part 3 of every Form 941 you file.

Learn more about seasonal employer filing and withholding requirements before your next hiring cycle: https://ow.ly/y6nE50ZjmXs

If your C corporation traditionally makes deductible charitable gifts, make sure you know the rules for 2026 donations. ...
07/17/2026

If your C corporation traditionally makes deductible charitable gifts, make sure you know the rules for 2026 donations. Starting Jan. 1, 2026, corporations can only deduct charitable gifts in excess of 1% of the company’s taxable income, with a 10% of income cap. Amounts exceeding the 10% cap can be carried forward — as can amounts that aren’t currently deductible due to the 1% floor — for up to five years. You may want to execute a multiyear charitable deduction strategy if your company’s income varies from year to year. Contact us at (904) 347-2050. We can help by projecting income and other deductions so you can support your community while maximizing long-term tax benefits.

07/16/2026

The midyear change follows an increase in gasoline prices, according to the IRS. It is the first such midyear adjustment since 2022.

As a small business owner, it’s easy to think of a succession plan as involving only two people: you and your successor....
07/15/2026

As a small business owner, it’s easy to think of a succession plan as involving only two people: you and your successor. But a smooth transition may also require support from managers and other key employees. Communicating thoughtfully about your intentions and progress can help build confidence, reduce uncertainty and keep the business moving forward. Contact us at (904) 347-2050 for help addressing the tax, financial and strategic aspects of your plan.

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it...
07/14/2026

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it’s headed — before year end. Tax planning opportunities may still be available, but they’ll become more limited as the calendar winds down. Whether you’re considering equipment purchases, compensation strategies, retirement plan contributions or other tax-saving moves, now is the time to look ahead and review your options. Call us at (904) 347-2050 to bring your 2026 tax strategy into focus.

If you’re thinking about financing a new vehicle, you may be able to deduct up to $10,000 per year of interest paid. The...
07/13/2026

If you’re thinking about financing a new vehicle, you may be able to deduct up to $10,000 per year of interest paid. The deduction is available for certain personal auto loans originated after Dec. 31, 2024 — even if you don’t itemize deductions. Modified adjusted gross income (MAGI) limits apply, and only qualifying vehicles assembled in the U.S. are eligible. Before purchasing, consider whether eligibility for the deduction should factor into your vehicle choice. We can help run the numbers. Call us at (904) 347-2050.

07/11/2026

Christmas in July is coming to Historic Downtown Panama City! ☀️🎅🎄

Who says you have to wait until December? Join us Friday, July 17–for an evening filled with holiday cheer before the big Christmas in July Farmers Market on Saturday, July 18!

Stroll through downtown as local businesses bring the Christmas spirit to summer with:
🎅🏻Photos with Santa
🍹 Holiday-inspired drinks, desserts & themed specials
🛍️ Christmas merchandise & clearance sales
🎄 Festive décor and holiday music throughout downtown
🎨 Kids crafts, family-friendly activities & photo opportunities

Bring the whole family, support local businesses, and experience the magic of Christmas with summer air instead of cold! ❤️💚

📍 Historic Downtown Panama City
🗓️ Friday, July 17 | Christmas in July Kickoff
🛍️ Saturday, July 18 | Christmas in July Farmers Market

Home renovations can improve a residence’s comfort, functionality, aesthetics and resale value. They might also provide ...
07/10/2026

Home renovations can improve a residence’s comfort, functionality, aesthetics and resale value. They might also provide tax benefits. You may be able to deduct mortgage interest on debt used to substantially improve your home. Certain improvements can also increase your tax basis, potentially reducing taxable gain when you sell. Medically necessary modifications may qualify as deductible medical expenses, subject to limits. And if you overlooked claiming now-expired credits for qualifying energy-efficient home improvements you made in 2025, an amended return may be worth considering. Call us at (904) 347-2050 to talk taxes before or after a home renovation.

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9700 Touchton Road , Ste 103
Jacksonville, FL
32246

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Monday 8:30am - 4pm
Tuesday 8:30am - 4pm
Wednesday 8:30am - 4pm
Thursday 8:30am - 4pm

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