Par and Profit LLC

Par and Profit LLC Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Par and Profit LLC, Tax preparation service, Saint Augustine, FL.

Par and Profit LLC is a Professional Services Firm based in Florida providing CFO services, tax planning, and IRS Tax Resolution to small businesses and individuals seeking these accounting services.

A cost segregation study is something you can purchase independently - But the study itself is only part of the process....
09/29/2026

A cost segregation study is something you can purchase independently - But the study itself is only part of the process.

And for many real estate investors, the process can quickly become overwhelming.

-Which cost segregation provider should you use?
-What do you do once the study is completed?
-Do you even qualify to use the depreciation losses?
-And if you do, are you properly documenting the activities and facts that support -your tax position?

The real value comes from understanding how the study fits into your overall tax situation and making sure the tax benefits are actually captured correctly on your return - and supported by the proper documentation.

At Par & Profit, we help take the process from analysis to implementation.

We can help you:

• Assess where you currently stand from a tax and depreciation perspective
• Determine whether cost segregation makes sense for your property and situation
• Help you evaluate and select the right cost segregation provider
• Assess whether you may actually qualify to use the resulting depreciation losses
• Help you understand the activity and documentation requirements that may support your tax position
• Review the completed study and explain the potential tax benefits
• Coordinate the tax reporting needed to take the strategy across the finish line

Buying the study is not the finish line. Proper planning, documentation, implementation, and tax filing are what turn a cost segregation study into a complete tax strategy.

If you own investment real estate and are considering cost segregation — or already purchased a study and aren't sure what happens next — contact Par & Profit before moving forward.

Let’s review your property, your current tax position, and the steps needed to determine whether cost segregation makes sense for you.

Par & Profit LLC | Tax Planning & Advisory

Don’t just buy the study. Have a plan for what comes next. Reach out today to schedule a cost segregation strategy review.

Visit http://www.parandprofit.com/about-3

October 15th Is Coming FastIf you filed an Extension for your 2025 individual tax return, the October 15, 2026 filing de...
09/29/2026

October 15th Is Coming Fast

If you filed an Extension for your 2025 individual tax return, the October 15, 2026 filing deadline is almost here.

And if you owe taxes, not being able to pay in full is NOT a reason to avoid filing.

The failure-to-file penalty can be much more costly than the failure-to-pay penalty, and waiting can reduce your options.

The better move is to get the return filed, determine what you actually owe, and then address the balance with the appropriate strategy.

If you also have prior-year returns that remain unfiled, this is not the time to keep putting them off.

This is an urgent assignment. Work with a qualified tax professional who can move quickly, assess the situation, prepare the filings correctly, and help you evaluate your payment resolution options.

👉 Need help getting this done? Use the link in bio to schedule a call with Par & Profit.

Don’t let October 15 become November’s problem.

IRS Notices Are Hitting MailboxesThe IRS recently sent out a new round of notices. If you just received one, don’t ignor...
08/19/2026

IRS Notices Are Hitting Mailboxes

The IRS recently sent out a new round of notices. If you just received one, don’t ignore it and don’t delay. Deadlines matter, and the sooner you understand what the IRS is requesting, the more time you have to address it.

Got an IRS notice? Call or email to see what your next steps are.

Can Your Company BBQ Become a Tax Planning Opportunity?You're having the team over to your house for a company BBQ.A lit...
08/04/2026

Can Your Company BBQ Become a Tax Planning Opportunity?

You're having the team over to your house for a company BBQ.

A little food. Some business discussion. Employee appreciation. Planning for the next quarter.

Could your business actually rent your personal home from you for the event?

Potentially - YES.

Under the Augusta Rule (IRC §280A(g)), a business owner may be able to rent their personal residence to their business for legitimate business use, while the rental income received by the homeowner may be excluded from taxable income when the home is rented for 14 days or fewer during the year.

And no - your employees don't have to spend the night.

But you can't simply throw some burgers on the grill, beers in the cooler and write yourself a $5,000 check.

If you're going to use this strategy, make it defensible:

- Have a legitimate business purpose for the event.

- Create an agenda - annual planning, employee training, strategy discussions, team meetings, etc.

-Document who attended and what was discussed.

- Establish documented reasonable rental rates

- Separate home rental, food, catering and other event costs.

⚠️ Watch out for common pitfalls, and use a Tax Professional to ensure your event is audit defensible, compliant to the IRS code and avoids common mistakes like turning a family BBQ or company social event into a "business meeting" AFTER THE FACT.

The Augusta Rule can be a useful tax-planning strategy. But the difference between tax planning and a large Disallowed Expense with interest and penalties can be costly.

Talk to your tax advisor before implementing the strategy.

Par & Profit | Tax Planning • Advisory • IRS Resolution

Selling your Business? Make sure there isn't an IRS issue waiting at the closing table.Many business owners focus on rev...
07/14/2026

Selling your Business? Make sure there isn't an IRS issue waiting at the closing table.

Many business owners focus on revenue, customers, and valuation - but unpaid payroll taxes can surface during due diligence and complicate negotiations, delay closing, or reduce your net proceeds.

The good news? If you address the issue early, you often have more options than you think.

Whether you're planning to sell this year or years from now, it's worth understanding how payroll tax debt can impact your exit strategy.

Friday ReminderFriday afternoons remind me a lot of the 18th hole.You take a moment to look back at the round - the good...
07/10/2026

Friday Reminder

Friday afternoons remind me a lot of the 18th hole.

You take a moment to look back at the round - the good shots, the mistakes, and what you'll do differently next time.

Business deserves the same reflection.

Take five minutes today to review your numbers before you enjoy the weekend.

Those few minutes may be worth more than another five hours of work next week.

Have a great weekend from Par & Profit.

⛳ See you on the fairway.

The IRS Says You Owe Taxes You Didn't Create—Now What?It's reasonable to assume that financial ties to your former spous...
07/01/2026

The IRS Says You Owe Taxes You Didn't Create—Now What?

It's reasonable to assume that financial ties to your former spouse is over after a divorce. But several months later, a letter from the IRS arrives in your mailbox addressed to you and your ex-spouse, claiming a debt you didn't even know existed.

Tax trouble starts in various ways: maybe your ex-spouse underreported their income from a side business, claimed deductions they weren't entitled to, or simply pocketed the money that should have gone toward the tax bill. If you didn't know about these actions and had no reason to know, the law provides a way for you to step out of that shadow.

To qualify, the IRS generally looks for an 'erroneous item' on the return that is attributable to the other person. They then evaluate whether it is 'equitable' to hold you responsible. Factors like financial hardship, domestic abuse, or lack of involvement in the family finances can all play a role in your defense.

Navigating these rules while you are already emotionally and financially drained by a divorce is a heavy burden. You do not have to argue with the IRS alone. There are specific forms and strict deadlines that must be met to preserve your rights and ensure your new life isn't derailed before it truly begins.

Our firm specializes in helping taxpayers reclaim their financial independence. If you are being pursued for a tax debt that belongs to your ex-spouse, we invite you to contact us for a confidential consultation. Let’s look at the facts of your situation and determine if you are eligible for the relief you deserve.

Played 18 holes at Blue Sky Golf in Jacksonville,FL. Golf is a great reminder to slow down, recharge, and take time for...
06/29/2026

Played 18 holes at Blue Sky Golf in Jacksonville,FL.

Golf is a great reminder to slow down, recharge, and take time for the things that help you reset. ⛳️

, , ,

Turning Personal Emergencies into IRS Penalty Abatement through Reasonable CauseYour business thrives on your availabili...
06/26/2026

Turning Personal Emergencies into IRS Penalty Abatement through Reasonable Cause

Your business thrives on your availability. But when life throws a wrench into your gears, your tax obligations can quickly spiral into a collection nightmare. If you have opened a letter to find massive penalties tacked onto your tax bill, it feels like the IRS is punishing you for having a human emergency.

However, there is a mechanism designed for exactly this situation: Penalty Abatement based on Reasonable Cause. The IRS understands that while the tax code is rigid, life is messy. If you can prove you acted with ordinary business care but were sidelined by an extraordinary event, you may be able to have those penalties wiped away.

It is important to remember that 'Reasonable Cause' is not a get-out-of-jail-free card for simple forgetfulness. The agency looks for seriousness. However, they are more compassionate than their reputation suggests when you present a clear, documented narrative of what went wrong. Once the penalties are addressed, we can look at a path forward through an Installment Agreement—a monthly payment plan that fits your freelance fluctuating income—or other IRS collection alternatives.

You do not have to carry the burden of these penalties while recovering from a life crisis. We specialize in telling your story to the IRS in a way they respect. If you are ready to stop the letters and start the resolution process, contact our firm for a confidential consultation today. Let us help you get back to work.

, , , , ,
, , , ,
, ,

Make the Turn. Mid-Year Tax Planning Beats Year-End Surprises.For many business owners, summer is the perfect time to ca...
06/25/2026

Make the Turn. Mid-Year Tax Planning Beats Year-End Surprises.

For many business owners, summer is the perfect time to catch up on the things that got pushed aside while focusing on filing tax returns. Taking care of them now can help you avoid expensive surprises later this year.

Mid-Year Business Compliance Checklist

✅ Make Sure Your Business Is in Good Standing

Verify your annual filings are current.
Resolve any compliance issues before they become penalties.

✅ Review Your Business Entity

Has ownership changed?
Is your current entity still the most tax-efficient choice?
Consider whether restructuring could save taxes or better protect your business.

✅ Planning to Expand?

Opening in another state?
Hiring employees in a new location?
Make sure you're properly registered before you begin operations.

✅ Review Payroll & Tax Accounts

Confirm payroll tax registrations are correct.
Catch any missed payroll filings before notices and penalties start arriving.

The middle of the year is one of the best times to identify risks, uncover tax planning opportunities, and get your business positioned for a strong second half of the year.

At Par & Profit, we help business owners stay compliant, reduce tax exposure, and make smarter financial decisions—before problems become expensive.

Address

Saint Augustine, FL
32084

Telephone

+19045756200

Website

Alerts

Be the first to know and let us send you an email when Par and Profit LLC posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Par and Profit LLC:

Shortcuts

Share

Category