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Stanaland, Dodson & Associates LLP

Stanaland, Dodson & Associates, LLP is a distinguished Certified Public Accountants firm founded in 1984.

Offering a suite of services including tax planning for businesses and individuals, accounting with reviews and compilations, strategic consulting, b

06/04/2026

💙 𝐂𝐡𝐚𝐫𝐢𝐭𝐚𝐛𝐥𝐞 𝐆𝐢𝐯𝐢𝐧𝐠 𝐑𝐮𝐥𝐞𝐬 𝐀𝐫𝐞 𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐢𝐧 𝟐𝟎𝟐𝟔

New tax rules taking effect in 𝟐𝟎𝟐𝟔 will affect how charitable contributions are deducted — and the impact depends on how you file.

Here’s a quick overview:
🔹 𝐅𝐨𝐫 𝐧𝐨𝐧-𝐢𝐭𝐞𝐦𝐢𝐳𝐞𝐫𝐬:
Individuals will be able to deduct up to $1,000 in cash charitable donations ($𝟐,𝟎𝟎𝟎 for married couples filing jointly).

🔹 𝐅𝐨𝐫 𝐢𝐭𝐞𝐦𝐢𝐳𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂 𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧𝐬:
Charitable deductions will be allowed only after exceeding a minimum threshold:
• Individuals must give more than 𝟎.𝟓% 𝐨𝐟 𝐚𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐠𝐫𝐨𝐬𝐬 𝐢𝐧𝐜𝐨𝐦𝐞
• C corporations must exceed 𝟏% 𝐨𝐟 𝐭𝐚𝐱𝐚𝐛𝐥𝐞 𝐢𝐧𝐜𝐨𝐦𝐞

Any charitable contributions above these limits aren’t lost — they can be 𝐜𝐚𝐫𝐫𝐢𝐞𝐝 𝐟𝐨𝐫𝐰𝐚𝐫𝐝 𝐟𝐨𝐫 𝐮𝐩 𝐭𝐨 𝐟𝐢𝐯𝐞 𝐲𝐞𝐚𝐫𝐬.

With these changes ahead, timing and planning charitable gifts may matter more than ever.

06/02/2026

📊 𝐀𝐌𝐓 𝐑𝐞𝐟𝐫𝐞𝐬𝐡𝐞𝐫: 𝐖𝐡𝐲 𝐈𝐭 𝐒𝐭𝐢𝐥𝐥 𝐌𝐚𝐭𝐭𝐞𝐫𝐬 𝐢𝐧 𝟐𝟎𝟐𝟔

The 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐌𝐢𝐧𝐢𝐦𝐮𝐦 𝐓𝐚𝐱 (𝐀𝐌𝐓) is a parallel tax system — you pay it only if it exceeds your regular tax.

𝐊𝐞𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐟𝐨𝐫 𝟐𝟎𝟐𝟔:
• AMT exemption: $𝟏𝟒𝟎,𝟐𝟎𝟎 (𝐣𝐨𝐢𝐧𝐭) | $𝟗𝟎,𝟏𝟎𝟎 (𝐬𝐢𝐧𝐠𝐥𝐞)
• Phaseout begins at $𝟏 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 (𝐣𝐨𝐢𝐧𝐭) | $𝟓𝟎𝟎,𝟎𝟎𝟎 (𝐬𝐢𝐧𝐠𝐥𝐞)
• Top AMT rate of 𝟐𝟖% applies at higher income levels

AMT also treats certain items differently:
• No standard deduction allowed
• State and local taxes must be added back
• Some investment income and stock options may be taxed differently

💡 Takeaway: While exemptions remain relatively high, the 𝐥𝐨𝐰𝐞𝐫 𝐩𝐡𝐚𝐬𝐞𝐨𝐮𝐭 𝐭𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝𝐬 𝐢𝐧 𝟐𝟎𝟐𝟔 may bring more higher-income taxpayers into AMT.

05/28/2026

𝐆𝐚𝐦𝐛𝐥𝐢𝐧𝐠 & 𝐓𝐚𝐱𝐞𝐬: 𝐖𝐡𝐚𝐭 𝐭𝐨 𝐊𝐧𝐨𝐰

Did your bracket come out on top this year? Before you celebrate too much, remember — 𝐠𝐚𝐦𝐛𝐥𝐢𝐧𝐠 𝐰𝐢𝐧𝐧𝐢𝐧𝐠𝐬 𝐚𝐫𝐞 𝐭𝐚𝐱𝐚𝐛𝐥𝐞.

Here are a few key points:
🔹 𝐀𝐥𝐥 𝐰𝐢𝐧𝐧𝐢𝐧𝐠𝐬 𝐦𝐮𝐬𝐭 𝐛𝐞 𝐫𝐞𝐩𝐨𝐫𝐭𝐞𝐝
Even if you don’t receive a Form W-2G or 1099, gambling income is still taxable and typically reported on 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝟏.
🔹 𝐅𝐞𝐝𝐞𝐫𝐚𝐥 𝐫𝐮𝐥𝐞𝐬 𝐨𝐧 𝐥𝐨𝐬𝐬𝐞𝐬
At the federal level, gambling losses can be deducted 𝐨𝐧𝐥𝐲 𝐢𝐟 𝐲𝐨𝐮 𝐢𝐭𝐞𝐦𝐢𝐳𝐞 and only up to the amount of your reported winnings.
Beginning in 𝟐𝟎𝟐𝟔, losses will be further limited to 𝟗𝟎% 𝐨𝐟 𝐰𝐢𝐧𝐧𝐢𝐧𝐠𝐬.
🔹 𝐍𝐨𝐫𝐭𝐡 𝐂𝐚𝐫𝐨𝐥𝐢𝐧𝐚 𝐫𝐞𝐦𝐢𝐧𝐝𝐞𝐫
North Carolina 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐚𝐥𝐥𝐨𝐰 𝐚 𝐝𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐠𝐚𝐦𝐛𝐥𝐢𝐧𝐠 𝐥𝐨𝐬𝐬𝐞𝐬, even if you itemize on your federal return.
🔹 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐭𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝𝐬 𝐚𝐫𝐞 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠
Starting in 2026, casinos will issue Form W-2G for certain winnings at $𝟐,𝟎𝟎𝟎 𝐨𝐫 𝐦𝐨𝐫𝐞 (up from prior $1,200 threshold), with future adjustments for inflation.

💡 The takeaway: Winning is fun — but understanding the tax impact is just as important.

05/26/2026

💼 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱𝐞𝐬: 𝐀 𝐐𝐮𝐢𝐜𝐤 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

Income taxes are one of the primary ways governments fund operations — applying to earnings from both individuals and businesses.

In the U.S., they represent a significant portion of federal revenue, supporting programs, infrastructure, and public services.

A bit of history:
• The modern federal income tax was established in 𝟏𝟗𝟏𝟑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐭𝐡𝐞 𝟏𝟔𝐭𝐡 𝐂𝐨𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐦𝐞𝐧𝐝𝐦𝐞𝐧𝐭
• It expanded significantly during 𝐖𝐨𝐫𝐥𝐝 𝐖𝐚𝐫 𝐈𝐈, when more Americans became subject to income tax

Beyond funding government, income taxes are often viewed as a tool to support public programs and address economic disparities — though they’ve long been a topic of debate.

💡 The takeaway: Whether for individuals or business owners, understanding how income taxes work is a key part of making informed financial decisions.

05/25/2026

Today, we remember those who gave their lives in service to our country. We are grateful for their sacrifice and the freedoms we enjoy because of them.

Wishing everyone a safe and meaningful Memorial Day.

05/21/2026

💸 𝐍𝐞𝐰 𝟏% 𝐄𝐱𝐜𝐢𝐬𝐞 𝐓𝐚𝐱 𝐨𝐧 𝐂𝐞𝐫𝐭𝐚𝐢𝐧 𝐌𝐨𝐧𝐞𝐲 𝐓𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐬

A new 𝟏% 𝐟𝐞𝐝𝐞𝐫𝐚𝐥 𝐞𝐱𝐜𝐢𝐬𝐞 𝐭𝐚𝐱 now applies to certain remittance transfers sent from the U.S. to other countries.

Here’s what to know:
🔹 The tax applies to 𝐜𝐚𝐬𝐡-𝐛𝐚𝐬𝐞𝐝 𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐬 (including money orders, cashier’s checks, and similar instruments)
🔹 It is 𝐩𝐚𝐢𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐬𝐞𝐧𝐝𝐞𝐫 and collected by the transfer provider
🔹 It applies regardless of citizenship status
🔹 It generally applies to transfers made for 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥, 𝐟𝐚𝐦𝐢𝐥𝐲, 𝐨𝐫 𝐡𝐨𝐮𝐬𝐞𝐡𝐨𝐥𝐝 𝐩𝐮𝐫𝐩𝐨𝐬𝐞𝐬

🔹 𝐖𝐡𝐚𝐭’𝐬 𝐍𝐎𝐓 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐭𝐡𝐞 𝐭𝐚𝐱?
Transfers funded through most 𝐔.𝐒. 𝐛𝐚𝐧𝐤 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐬, 𝐜𝐫𝐞𝐝𝐢𝐭 𝐜𝐚𝐫𝐝𝐬, 𝐨𝐫 𝐝𝐞𝐛𝐢𝐭 𝐜𝐚𝐫𝐝𝐬

📌 Important: If a check is cashed at the provider and then sent abroad, it may be treated as a 𝐜𝐚𝐬𝐡 𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫 and subject to the tax.

As always, the details matter — especially when it comes to how a transaction is structured.

05/19/2026

📈 𝐏𝐞𝐧𝐬𝐢𝐨𝐧 𝐏𝐥𝐚𝐧 𝐒𝐩𝐨𝐧𝐬𝐨𝐫𝐬: 𝐏𝐁𝐆𝐂 𝐏𝐫𝐞𝐦𝐢𝐮𝐦𝐬 𝐀𝐫𝐞 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐢𝐧 𝟐𝟎𝟐𝟔

If your company offers a defined-benefit pension plan, take note of upcoming 𝐏𝐁𝐆𝐂 𝐩𝐫𝐞𝐦𝐢𝐮𝐦 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐬 that will affect plan budgets and funding decisions.

Starting with 𝐩𝐥𝐚𝐧 𝐲𝐞𝐚𝐫𝐬 𝐛𝐞𝐠𝐢𝐧𝐧𝐢𝐧𝐠 𝐢𝐧 𝟐𝟎𝟐𝟔:

🔹 𝐅𝐥𝐚𝐭-𝐑𝐚𝐭𝐞 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 (𝐒𝐢𝐧𝐠𝐥𝐞-𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐫 𝐏𝐥𝐚𝐧𝐬)
Rising to $𝟏𝟏𝟏 𝐩𝐞𝐫 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭 — up from $106 in 2025.

🔹 𝐕𝐚𝐫𝐢𝐚𝐛𝐥𝐞-𝐑𝐚𝐭𝐞 𝐏𝐫𝐞𝐦𝐢𝐮𝐦
For underfunded plans, the premium increases to $𝟓𝟐 𝐩𝐞𝐫 $𝟏,𝟎𝟎𝟎 𝐨𝐟 𝐮𝐧𝐟𝐮𝐧𝐝𝐞𝐝 𝐯𝐞𝐬𝐭𝐞𝐝 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬, with a $𝟕𝟓𝟏 𝐩𝐞𝐫-𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭 𝐜𝐚𝐩.

These adjustments may impact contribution strategies and long-term funding considerations for plan sponsors.

Staying ahead of these changes can help avoid surprises and ensure your plan remains compliant and financially sound.

05/14/2026

📊 𝐖𝐡𝐨 𝐏𝐚𝐲𝐬 𝐌𝐨𝐬𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔.𝐒.?

Recent IRS data offers an interesting look at how the federal income tax burden is distributed.

For 2023:
🔹 The 𝐭𝐨𝐩 𝟏% paid 𝟑𝟖.𝟒% of all federal income taxes
🔹 The 𝐭𝐨𝐩 𝟓% paid 𝟓𝟗.𝟑%
🔹 The 𝐭𝐨𝐩 𝟏𝟎% paid over 𝟕𝟎% of total income taxes

At the other end:
🔹 The 𝐛𝐨𝐭𝐭𝐨𝐦 𝟓𝟎% of filers paid about 𝟑.𝟑% of total income taxes

These differences reflect a combination of factors, including income levels, tax structure, and the impact of credits designed to provide relief to lower-income households.

💡 The takeaway: The U.S. tax system is highly progressive — and understanding where you fall can help inform smarter tax planning decisions.
#
TaxEducation

05/12/2026

🏛️ Death Taxes 101: What You Should Know

“Death taxes” is a term often used to describe taxes that may apply when assets are transferred after someone passes away. In reality, these taxes impact a 𝐯𝐞𝐫𝐲 𝐬𝐦𝐚𝐥𝐥 𝐩𝐞𝐫𝐜𝐞𝐧𝐭𝐚𝐠𝐞 𝐨𝐟 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧𝐬 — typically only higher-value estates.
There are two main types:

🔹 𝐄𝐬𝐭𝐚𝐭𝐞 𝐓𝐚𝐱
Paid by the estate before assets are distributed. This is the only type of “death tax” at the federal level.

🔹 𝐈𝐧𝐡𝐞𝐫𝐢𝐭𝐚𝐧𝐜𝐞 𝐓𝐚𝐱
Paid by the 𝐛𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐢𝐞𝐬 who receive assets. This applies only in a few states:
Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania.

While most individuals won’t be affected, estate taxes have long been part of broader conversations around wealth transfer, fairness, and planning strategies.

💡 The takeaway: Even if estate taxes don’t apply, thoughtful planning can still help ensure assets are passed efficiently and according to your wishes.

05/10/2026

🌷 𝐇𝐚𝐩𝐩𝐲 𝐌𝐨𝐭𝐡𝐞𝐫’𝐬 𝐃𝐚𝐲 🌷

To all the mothers, grandmothers, and those who fill that role — thank you for the love, guidance, and support you give so freely.

We hope your day is filled with appreciation and joy.

Address

3809 Forrestgate Drive
Asheboro, NC
27203

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Website

http://sdallp.com/

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