Tax season is now upon us. To make the process as smooth as possible and to prevent issues down the road, here are some tips: Create an Online Tax Account One of the most common issues I see has to do with estimated tax payments. An easy way to fix this is to pay all […]
IRS
Know These Upcoming Tax Due Dates
The IRS issued a 14-page tax calendar publication, which is useful for helping with insomnia. Instead of reading it, here are some relevant, upcoming due dates that you should be aware of: January 15th February 2nd (normally it is the 31st of January, but it falls on a Saturday this year) March 16th (normally it […]
Is That Tax Notice Real?
It’s frightening enough when you receive a notice from the IRS or a state’s taxing authority, but what’s worse is if it’s not from them, but some type of scam or misleading advertising. Here are a few ways to tell. Fine Print There’s a company that sends out annual report renewal notices that look like […]
Some Year-End Tax Moves for Your Business
Looking to make a few tax moves before the year is over? See if these apply to your situation. Review Your Entity Structure How is your entity structured? It is a sole proprietorship, LLC, s-corp, or c-corp. Now is the time to review it to make sure you are using the correct entity to protect […]
What Percentage of Individuals Will Now Itemize?
Under the OBBBA, what percentage of individuals will itemize starting with the year 2026? Take a guess. In recent years the percentage of itemizers has been around 10%. Now, that number will jump to approximately 14% according to the Tax Foundation for the year 2026. Make sure to subscribe to our weekly emails to receive […]
Changes to Charitable Deductions
There are some changes to be aware of regarding charitable deductions that will take place next year as follows: Above the Line Deduction You can deduct charitable contributions up to $1,000 or $2,000 if filing jointly even if you do not itemize. This deduction has been made permanent and was temporary a few years ago. […]
What’s Your Tax Bracket
The IRS just released the new tax brackets for the upcoming year, 2026. What will your tax bracket be? Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income Is: The Tax Is: Not over $24,800 10% of the taxable income Over $24,800 but not over $100,800 $2,480 plus 12% of the excess over […]
Is Your Occupation on the Qualified Tips List?
The One Big Beautiful Bill Act required the IRS to list qualified occupations that can exclude up to $25,000 of tips from their income. See if you’re on the preliminary list: Food and Beverage Entertainment and Events Hospitality and Guest Services Home Services Personal Services Personal Appearance and Wellness Recreation and Instruction Transportation and Delivery […]
1099 Reporting Changes
The One Big Beautiful Bill Act changed reporting thresholds for 1099 reporting as follows: 1099-NEC & 1099-MISC The threshold changed from $600 to $2,000 for payments made after December 31, 2025. This amount will be indexed for inflation thereafter. 1099-K The 1099-K reporting threshold has been increased from $600 to $20,000 and more than 200 […]
How to Know It’s the IRS
With all of the scams going around these days, how do you know if it’s really the IRS who contacted you? According to the IRS, these are the ways they will contact you and communicate with you. Initial Contact Almost every initial contact from the IRS is by mail from the U.S. Postal Service. Other […]