Helgreen & Dalton Accountants

Helgreen & Dalton Accountants We offer Accounting, Book Keeping, and Tax Preparation.

02/25/2026

🚨 Scam Alert for North Carolina Taxpayers 🚨

If you receive a text message about a “refund” and asks you to click a link or provide payment information, please pause. These messages are fraudulent.

NCDOR will never request sensitive financial information by text.

Protect your personal information. Do not click suspicious links.
Stay informed by visiting https://bit.ly/4baqzxa.

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02/25/2026

"No Tax on Overtime" Deduction – Did You Know?

In order to claim the deduction, you must be an FLSA overtime-eligible employee, where FLSA stands for the Fair Labor Standards Act. Many full-time employees fit this category but some do not, so if you are unsure about your FLSA designation, check with your employer.

You may only claim the "No Tax on Overtime" deduction if you have a Social Security number (SSN) valid for U.S. employment. If you are married, you must file a joint tax return with your spouse. Note that the deduction applies only to "bonus" overtime pay above your normal salary or wage rate. For example, if your normal pay rate is $20/hour but you get paid $30/hour for overtime work ("time and a half"), then at most $10/hour of your overtime pay will be deductible. Your 2025 W-2 form might not clearly show your qualifying overtime pay, so you may need to obtain the information another way, such as logging into a portal created by your employer.

You do not need to itemize deductions in order to deduct overtime pay. The maximum deduction amount is $12,500, or $25,000 for joint filers if both spouses have qualifying overtime pay and valid SSNs. The deduction amount decreases for people with modified adjusted gross incomes above $150,000 (or $300,000 for joint filers). A tax professional can help you determine whether you qualify to deduct overtime, and if so, help you properly figure your deduction amount.

02/17/2026

IRS’s new “Deduction for Seniors” lets folks 65 and older claim an extra $6,000 on top of the existing senior standard deduction.

Here’s the simple breakdown to gear up for next year’s filing (2026 for 2025 taxes):

• Who qualifies? Anyone turning 65 by the end of 2025. It’s per person, so a married couple where both are eligible gets $12,000 total.

• How to claim: It’s an above-the-line deduction that stacks with the standard deduction you already get. No separate form. Just report it on your return.

• Income limits: You get the full $6,000 per person until your modified AGI crosses $75,000 (or $150,000 married). After that, it phases out.

Now here’s what most people will miss:

• This is temporary. It only applies for 2025–2028 unless Congress extends it.
• This is on top of the current senior add-on deduction (which is roughly $1,950 per person for 2024).
• If you’re retiring soon, this helps offset the tax hit of Social Security becoming taxable or RMDs kicking in.
• If you’re doing Roth conversions, plan around the phaseout line so you don’t accidentally lose the deduction.
• If both spouses turn 65 in the same year, you get the full $12,000 immediately.

If you’re hitting 65 this year, this isn’t pocket change.

It’s one of the easiest ways to lower your tax bill, so plan your income around it.

02/09/2026

Some tax refunds may take a little longer, but the wait is worthwhile: If you claim certain credits, the is required to wait until mid-February to issue your refund. information can help you find out when you can expect your refund. Where's My Refund will show an updated status by February 22.

Find more information at www.irs.gov/refundtiming.

02/03/2026

Tax Documents May Come in Different Formats This Filing Season

Keep an eye out over the next 2-3 weeks for important documents you will need to file a complete and accurate tax return. These documents may include Form W-2 (Wage and Tax Statement for employees), along with various 1099 forms showing interest, dividend, rental, royalty or self-employment income. Traditionally, these forms came in the mail or were distributed to employees at a workplace. However, they may now be sent digitally, or made available through an online system.

Gathering up needed forms may be different this tax season for people who qualify for the new "No Tax on Tips," "No Tax on Overtime" and/or "No Tax on Car Loan Interest" deductions. In the future, the information needed to claim these deductions will be included on W-2, 1099 or other standard IRS forms. This year, however, employers and lenders may use alternative reporting formats. For example, you may receive a form that does not look like a normal tax document, or instructions to log in to an online portal to access the figures you need.

In order to claim any of these deductions, or the enhanced deduction for seniors, you will need to file a new tax form just released by the IRS called Schedule 1-A. A tax professional can help you assemble all the needed information, complete this form and file your entire return electronically so you can receive your refund as quickly as possible.

01/25/2026

Our office will be closed on Monday January 26 due to inclimate weather. Stay safe out there.

01/13/2026

Here's your quick peek at the mileage rates for 2026:

01/13/2026

IR-2026-01, Jan. 6, 2026 — With the 2026 filing season quickly approaching, the Internal Revenue Service is urging taxpayers to take a few simple steps now to prepare for filing their 2025 federal income tax returns.

We are back to our Tax Season Hours.
01/12/2026

We are back to our Tax Season Hours.

01/05/2026

Changes to the postmark rules! Don’t get caught with a late filing!!

12/30/2025

Updated postmark rules are redefining what we think of as “on time.” This could have big implications for year-end givers and for taxpayers at tax time.

Address

103 Scotland Street
Black Mountain, NC
28711

Opening Hours

Monday 7am - 12pm
Tuesday 7am - 12pm
Wednesday 7am - 12pm
Thursday 7am - 12pm

Telephone

+18286698784

Website

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