Jeremy Wells, EA, CPA

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Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Jeremy Wells, EA, CPA, Business consultant, 99 King Street Unit 592, Saint Augustine, FL.

11/05/2026

🖖 Star Trek teaches better client management than most business books

Growing up, I’d watch Star Trek: The Next Generation every night. Picard, Riker, and Data felt like colleagues before I even had a job. Years later, I realized those episodes were quietly prepping me for real-life client work:

• Navigating “first contact” with prospects
• Balancing logic with humanity
• Negotiating without phasers

We often think our hobbies and interests are “just personal,” but they’re quietly shaping how we show up in our work.

In this episode of "What's Your And?" with John Garrett, we explored:
🚀 How sci-fi teaches real negotiation skills
🚀 Why technical expertise isn’t enough to build trust
🚀 Lessons on leadership and client empathy from a Vulcan

🎧 If you want a light but thoughtful listen for your walk today, listen here: https://whatsyourand.com/episode-209-jeremy-wells/

Live long and prospect.

11/04/2026

S corporations can be a great strategy for some taxpayers. But for many, it's an easy election with negative effects.

We're seeing a dangerous trend where the "cottage industry" built around S corporations has led to poor advice and unexpected consequences for business owners. I share some critical red flags that should make tax professionals pump the brakes on S corporation elections.

I cover some key S corporation killers, including
📉 Equity structures that don't work with single-class stock requirements,
💰 Debt-heavy balance sheets that can trigger taxable events during election,
🏛️ State taxes that can completely wipe out any self-employment tax savings, and
📑 Operating agreement provisions that violate S corporation rules and can terminate elections.

Partnerships and sole proprietorships often serve business owners better than the hyped S corporation structure. Before you recommend that next S election, make sure you're considering the full picture and not just the self-employment tax savings.

🎧 Listen here: https://tax.show/3

11/03/2026

Repair or improvement? The $23,000 question!

💧 A leaky pipe.
🚿 A full bathroom renovation.
💸 A surprise $4,000 water heater upgrade.
😫 And a client asking, “Can I deduct all of this?”

In this episode of Tax in Action, I dive deep into one of the most common—but often misunderstood—questions in tax and accounting: When do you expense repairs, and when must you capitalize improvements?

Featuring TD 9636 and the infamous “betterment, restoration, or adaptation” test, this episode covers the following:
🧰 How to distinguish between repairs and improvements (and why it matters)
📋 The three safe harbors that might save your client from waiting 27.5 years for a deduction
🛁 A real~world case study involving a rental property, a leak, and a lot of invoices

Whether you’re advising landlords, reviewing big~ticket repairs, or just trying to keep your depreciation schedule under control, this episode is for you.

🎙️ Listen here: https://tax.show/8

11/02/2026

Changing careers and transitioning to self-employment can be difficult challenges.

🎙️ On The Unique CPA Podcast, I chat about my transition from academia to accounting and from employment to firm ownership. Thankfully, I had great mentorship throughout the process.

🎧 Listen to my story on The Unique CPA: https://tri-merit.com/podcast/carving-your-own-path/

10/31/2026

S corporations ask you to keep track of a few different “versions” of the same story:

• Retained earnings
• Stock basis
• AAA

They’re related, but they’re not interchangeable.

In this post, I break down what each one is measuring and how they work together in practice.

Link in comments ⤵️

10/30/2026

📈 What Every Tax Pro Needs to Know About Section 1031 Exchanges

Have you ever had a client mention a 1031 exchange after it’s already happened? Or discovered a 1031 in last year’s workpapers with zero heads-up? Yep, been there.

In this episode of Tax in Action, I break down the essentials of §1031 like-kind exchanges: what they are, what they are not, and how to handle them when they land in your tax prep queue.

Key points I cover include
⚖️ What qualifies as “like-kind” under current law
🗓️ The 45-day and 180-day rules explained clearly
📋 Reporting on Form 8824 without losing your sanity
🏛️ Key Tax Court cases that clarify intent and related party rules
⁉️ Common misconceptions (spoiler: it defers, not eliminates, gain)
💼 Why most 1031s today are deferred exchanges and how intermediaries fit in

Whether you serve real estate investors full-time or have clients dabbling in rentals, understanding 1031 exchanges is critical, especially in this market where clients are shifting properties to build wealth without triggering immediate tax.

🎥 Watch here: https://www.youtube.com/watch?v=K8xubWZ3gGQ

10/28/2026

Price is only part of the story.

When choosing a tax professional, don’t stop at “how much?”
Also ask: “What am I getting?”

A lower price might mean less service. A higher price might include advisory, planning, audit support, and communication that pays for itself.

I said it in a recent Bankrate article, and I’ll say it again here:

➡️ “It’s important for taxpayers to ask not just ‘how much,’ but also ‘what am I getting’ when evaluating the cost of tax services.”

Value isn’t just in dollars. It’s in outcomes, expertise, and peace of mind.

🔗 https://www.bankrate.com/taxes/cpa-ea-accountant-which-tax-pro-is-best-for-you/

10/28/2026

☀️ Solar panels, tax credits, roof modifications... What qualifies for the Residential Clean Energy Credit and what doesn't?

🎙️ In this Tax in Action episode, I unpack IRC §25D to help you navigate client clean energy improvements with confidence.

I cover critical distinctions between eligible and non-eligible costs, including:
🏠 When roof modifications qualify (and when they don't)
🔋 How to handle battery storage and fuel cell requirements
🖥️ The impact of business use of home on credit calculations
⏰ Timing rules for claiming the credit

🎧 Listen here: https://tax.show/1

10/26/2026

🏡 New course on the §121 exclusion!

This course comprehensively covers capital gain exclusion rules for principal residence sales. Through real Tax Court cases and practical examples, participants will master the ownership, use, and prior exclusion tests that determine eligibility for up to $500,000 in tax-free gains.

Key topics include principal residence determination, considerations for married couples, partial exclusions, non-qualified use periods, and strategic planning opportunities. Tax professionals will gain essential skills to navigate these complex rules and provide valuable guidance to clients when making one of their most significant financial decisions.

🔗 Link in comments ⤵️

10/26/2026

🚩 Tracking your P&L isn’t enough!

Too many founders
🚀 Launch fast
📈 Scale fast
🤝 Sell fast

…but ignore their financial and legal infrastructure.

In this interview, I shared
🗓️ Why cleaning up 2 years of financials in 2 weeks before a deal is the worst way to run your business.
📑 Why your balance sheet matters more than your P&L when it’s time to get funding, add partners, or negotiate credit.
🛡️ Why you need your legal entity, bookkeeping, and cash systems in place early—not as a luxury, but as protective scaffolding.

You can’t build a stable business on a shaky foundation.
You can’t make strategic decisions with unclear numbers.
You can’t outsource all financial responsibility just because it’s “not fun.”

Investors, lenders, and your future self will thank you for taking your finances seriously.

💡 If you’re a founder: What’s been your biggest challenge in getting your financial systems in place?

📽️ Watch here: https://www.youtube.com/watch?v=StWoFQqR8-I

Address

99 King Street Unit 592
Saint Augustine, FL
32085

Website

http://jwells.tax/

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