Is Your Home Office Putting Your Tax Deduction at Risk?
Working from home can be a great benefit for a business owner—and in the right circumstances, your home office may also provide a valuable tax deduction. But there’s a catch that many business owners overlook: Your home office has to meet specific IRS requirements, and how you use that space matters. If your home office […]
Bookkeeper vs. Accountant vs. CPA: Which Does Your Small Business Need?
“Do I need a bookkeeper or an accountant?” is one of the most common questions we hear from small business owners in St. Augustine, and the honest answer is that most businesses need elements of both at different times. Here’s how the roles actually differ, so you can figure out what your business needs right […]
How to Set Up Payroll for Your Small Business: A Step-by-Step Guide
Bringing on your first employee is exciting, but it also means payroll becomes a legal obligation, not just a spreadsheet task. Getting it right from day one saves you from penalties, back taxes, and unhappy employees down the road. Here’s what actually has to happen. Step 1: Get an EIN (If You Don’t Already Have […]
Your Office Coffee May Cost More Than You Think in 2026
Most business owners don’t spend much time thinking about the tax implications of the coffee pot in the break room. However, a tax law change taking effect in 2026 may make many employers take a closer look at the cost of providing everyday workplace perks like coffee, snacks, bottled water, and other refreshments. For years, […]
Missed the Tax Deadline? Here’s What You Should Do Next
We have had a really busy tax season and now we are coming up for air. If you happened to let this deadline go by, you are not alone. We know that missing the tax filing deadline can feel overwhelming. Many people assume they are immediately in serious trouble with the IRS, but in reality, […]
What St. Augustine Retirees Need to Know About the New $6,000 Deduction
If you’ve walked past a news-stand lately, you might have seen First Coast Accounting featured in St. Augustine Social. In that article, we talked about our mission to bring clarity to our community. Today, we’re doing just that by breaking down one of the most significant changes in the new tax code: The Enhanced Senior […]
From Regional Roots to St. Augustine Social: Celebrating Our Community Feature
We have some exciting news to share! If you’ve been following us on social media, you might have heard: First Coast Accounting is featured in the April issue of St. Augustine Social magazine! Being highlighted alongside the incredible businesses and leaders of our community is a milestone we don’t take lightly. For us, this feature […]
Understanding “Trump Accounts”: A New Tax-Favored Opportunity for Children Born 2025-2028
By Lisa Whitley, Bookkeeper — First Coast Accounting, St. Augustine, FL Recent tax law changes have introduced a brand-new financial planning opportunity for families: “Trump Accounts.” These accounts are designed to help build early financial security for children born between January 1, 2025 and December 31, 2028, combining government funding, private contributions, and potential employer […]
Understanding the New Auto Loan Interest Deduction (2025–2028)
By Lisa Whitley, Bookkeeper — First Coast Accounting, St. Augustine, FL As tax law continues to change, new opportunities are emerging for individuals and business owners to reduce their tax burden. One important update is a new deduction for automobile loan interest, available for tax years 2025 through 2028. If you’re planning to purchase a […]
New Deductions for Tips and Overtime: What Workers Need to Know for 2025–2028
For many workers, tips and overtime aren’t just “extra” earnings, they’re a core part of monthly income. Starting in 2025, new tax rules offer meaningful relief for individuals who rely on tipped wages or overtime pay. These changes create significant opportunities for service workers, hospitality employees, trades professionals, and others who frequently work beyond standard […]