April 15 – C-Corporations  File a 2025 calendar year income tax return (Form 1120) and pay any tax due. If you need an automatic 6-month extension of time to file the return, file Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information and Other Returns, and deposit what you …..

April 10 – Report Tips to Employer    If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer no later than April 10. You can use IRS Form 4070 or your own statement that includes your signature; name, address and Social Security number; …..

Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making periodic estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes per an IRS schedule according to …..

Tax season brings deadlines, documents, and urgency. It also brings scammers.  Every year, phishing attempts spike during filing season because criminals know people are expecting financial communication. Refund notices. Payroll updates. Signature requests. Client documents.  The timing makes the message feel legitimate.  And in 2026, the tactics are more sophisticated than ever. Why Tax Season Is Prime …..

As the landscape of charitable giving continues to evolve, 2026 ushers in significant changes in the tax treatment of donations. For both itemizers and non-itemizers, understanding the new rules is crucial to maximizing the benefits of charitable contributions and ensuring compliance with tax obligations. Among the key changes are new guidelines for non-itemizers wishing to …..

January 15 – Employer’s Monthly Deposit Due – If you are an employer and the monthly deposit rules apply, January 15 is the due date for you to make your deposit of Social Security, Medicare, and withheld income tax for December 2025. This is also the due date for the nonpayroll withholding deposit for December …..

January 2 – Time to Call For Your Tax Appointment – January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes too crowded. January 12 – Report Tips to Employer – If you are an employee …..

In today’s digital age, social media serves as a hub of information on almost every topic imaginable, from cooking recipes to financial advice, including taxes. However, as accessible as these platforms are, they pose a significant risk when used as a source for tax advice. Misleading or just plain wrong tax advice on social media …..

QuickBooks has become the go-to accounting platform for millions of small businesses. It’s powerful, flexible, and designed to simplify bookkeeping — in theory. But if you’ve spent any time working inside QuickBooks, you know the truth: the software only works well when the setup is right, the data is accurate, and someone is managing it …..

There’s nothing quite like opening the mailbox, seeing an envelope with “Internal Revenue Service” printed on it, and feeling your stomach drop. Even people who are perfectly organized — even people who’ve done everything right — feel the same jolt of panic when they receive an IRS notice. But here’s the truth: Most IRS notices …..

Most people think their financial professional focuses on the past: last year’s tax numbers, last quarter’s profit, last month’s expenses. That’s the compliance world. It’s essential, of course. But it’s focused on what has already happened. Advisory is something different. Advisory is about shaping what comes next. It’s a shift from “Here’s your report” to …..

In the realm of retirement savings, the designated Roth account stands out as a unique option that offers tax-free growth and withdrawals under certain conditions. Originating from the 401(k), tax shelter 403(b) plans, or governmental 457(b) plans, a designated Roth account allows employees to make after-tax contributions that grow tax-free. This article delves into the …..

At Nathan Wechsler & Company, we’re proud to recognize our team members who use their professional skills to make a difference in the community. For James Mitkonis, that means applying his financial expertise to help strengthen the mission of the Circle Program. James has been involved with the Circle Program for nine years, serving as …..

At Nathan Wechsler & Company, we take pride in the many ways our team members use their talents to give back—and for Catherine Soucy, that means turning her financial expertise into meaningful community impact. Catherine currently serves as the Financial Secretary for the Western Sun Foundation, a nonprofit dedicated to transforming community energy into support …..

In recent legislative developments, the Omnibus Budget Reconciliation Bill for 2025 and Beyond (also known as the One Big Beautiful Bill Act, or OBBBA) has introduced significant tax provisions, some tailored to benefit seniors, ensuring they receive enhanced support in managing their financial and tax responsibilities. Key among these changes is a new deduction available …..

The State and Local Tax (SALT) deduction allows taxpayers to deduct either their state and local income taxes or their state and local sales taxes, in addition to property taxes, on their federal income tax returns when they itemize deductions. This deduction has long been a staple in the tax code, designed primarily to mitigate …..

On July 4th, the President signed into law the so-called “One Big Beautiful Bill” Act (OBBBA), a significant piece of legislation that ushers in a plethora of tax provisions designed to impact taxpayers across the spectrum. Though the act introduces measures that stretch beyond this year, our focus here narrows to changes coming into effect …..

Pursuant to an executive order signed on March 25, 2025, the federal government will phase out paper checks for all federal disbursements, including tax refunds, and will no longer accept paper checks for payments, such as taxes owed. The Treasury will be moving to electronic payment and refund methods. This change aims to reduce costs, …..

On July 4, 2025, H.R.1, also known as the “One Big Beautiful Bill” was signed into law. This budget reconciliation bill permanently extends the 2017 Tax Cuts and Jobs Act (TCJA) provisions and introduces new tax incentives for 2025 and beyond. Below are the key tax changes and TCJA extensions. Please see the enclosed handouts …..

We are proud to announce that Nathan Wechsler & Company has been named one of the Top 400 accounting firms in the nation by INSIDE Public Accounting (IPA) for 2025. This recognition reflects the hard work, dedication, and client-focused service that our team brings to every engagement. The IPA Top 400 list is compiled annually …..