2026 Fall and 2027 Tax Planning Tax Planning Contact this office to schedule a consultation appointment. September 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during August, you are required to report them to your employer no later than September 10. .....
September 15 – S Corporations File a 2025 calendar year income tax return (Form 1120-S) and pay any tax due. This due date applies only if you requested an automatic 6-month extension. Provide each shareholder with a copy of their Schedule K-1 (Form 1120-S) or a substitute Schedule K-1 and, if applicable, Schedule K-3 (Form .....
Most taxpayers don’t plan to get hit with an IRS penalty. Usually, it happens because life got in the way: a bill was missed, a return was filed late, or an estimated payment did not get made on time. For years, one of the best forms of relief in that situation was an IRS program .....
For many taxpayers, receiving a tax refund is the final step of filing season. Once the IRS accepts the return, most people assume their money will arrive within a few weeks. That assumption may no longer be safe. During the most recent filing season, many taxpayers who were expecting paper refund checks instead received IRS .....
With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping a record of actual expenses. Sure enough, the IRS recently announced a 3.5-cent increase in the optional mileage rate for the last half of 2026. The new rate for .....
July 1 – Self-Employed Individuals with Pension Plans If you have a pension or profit-sharing plan, you may need to file a Form 5500 or 5500-EZ for calendar year 2025. Even though the forms do not need to be filed until July 31, you should contact this office now to see if you have a .....
July 1 – Time for a Mid-Year Tax Check Up Time to review your 2026 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips .....
What Small Business Owners Need to Know Before Tax Season Sneaks Up Again It usually starts with a harmless sentence. “I only made a little side income.” Or… “Most of my clients just paid me through Venmo.” Or our personal favorite… “I never got a tax form, so I assumed I was okay.” And honestly? .....
For many taxpayers, dealing with the IRS can feel slow, confusing, and paper-heavy. An IRS online account offers a faster, more convenient way to manage many tax tasks from your computer or phone — from checking your refund to viewing tax transcripts to setting up payments — without a trip to a post office or .....
Trump Accounts officially launched on July 4, 2026. Families who already signed up should confirm that their account has been activated and is ready to receive contributions. Those who have not yet registered can still submit the required election, complete the activation process, and begin funding the account. The program provides a $1,000 seed contribution for eligible children born .....
