Trish Cheek CPA PLLC

04/14/2026

⏰ Running out of time and need to file a quick extension for FREE? Here’s how:

✅ Good news for North Carolina residents: you can file a fast, free extension online in just a few minutes.

🔹 Step 1: File your FREE federal extension:
Anyone can file a federal extension for free using IRS Free File — no income limits.
👉 IRS Free File Extension: https://www.irs.gov/filing/file-an-extension-through-irs-free-file [irs.gov]
➡️ This gives you until October 15 to file your federal return.

🔹 Step 2: Your NC extension is automatic:
North Carolina automatically honors your federal extension, so no separate state extension form is required unless you need to make a payment. [ncdor.gov]

🔹 Owe NC tax?
If you think you’ll owe North Carolina tax, you can file and/or pay Form D‑410 online for free:
👉 NC D‑410 Online: https://eservices.dor.nc.gov/vouchers/d410.jsp [eservices.dor.nc.gov]
⚠️ Important reminders:
• An extension gives you more time to FILE, not more time to PAY
• Paying as much as you can by the deadline helps reduce penalties and interest
• If you expect a refund, you still need to file your return to receive it
✅ Fast
✅ Free
✅ Fully online

Feel free to share with anyone who might need a last‑minute breather

02/02/2026

For safety of our staff, our office we be closed again today, Monday February 2nd, obviously due to the road conditions. We expect to be open Tuesday. For convenience of our clients, we are working remotely and are available via email or phone. Stay safe everyone! ❄️

01/30/2026

The IRS has officially opened the 2026 tax filing season and is now accepting 2025 federal income tax returns. Taxpayers have several ways to file electronically, including multiple free options depending on income and eligibility:

-IRS Free File: For taxpayers with AGI of $89,000 or less. Access to free partner tax software (each partner has its own rules).

-Free File Fillable Forms: Free for all income levels if you’re comfortable preparing your own return, regardless of income.

-MilTax: Free filing for eligible military members and families, including up to three state returns.

-VITA/TCE Programs: Free basic tax prep for low‑ to moderate‑income taxpayers, seniors, people with disabilities, limited‑English speakers, and qualifying military families.

Faster Refunds: Electronic filing with direct deposit remains the quickest way to receive a refund. Most accurate, complete returns are processed within 21 days, though some may require additional review. Taxpayers can track their refund using the IRS “Where’s My Refund?” tool.

For more information and links to these resources, please visit :

Tax Tip 2026-08, Jan. 29, 2026 — The 2026 tax filing season officially kicked off this week, and the IRS is now accepting and processing federal income tax returns for the 2025 tax year. Taxpayers have several options for filing electronically, with some free options available depending on income ...

01/26/2026

In an abundance of caution for our staff and clients, our office will be closed again on Tuesday January 27th. I do expect we will be open Wednesday. However, we can still be reached via phone and email, as we are working remotely. We apologize for any inconvenience and appreciate your understanding!

01/25/2026

Out of an abundance of caution, our office will be closed Monday January 26th. We can still be reached by email and phone during this time. Stay safe!

01/13/2026

As part of recent tax law changes, the 2025 “No Tax on Overtime Premiums” provision allows eligible employees to exclude the overtime premium portion of their wages from taxable income on their 2025 tax return.

It’s important to understand that only the additional “half-time” premium—the amount added on top of your regular hourly rate—is considered an eligible overtime premium. Your regular hourly pay remains fully taxable.

Since employers are not required to report overtime amounts on 2025 W‑2 forms, be sure to provide both of these items to your tax preparer when getting your taxes done :

*Provide your final 2025 pay stub along with your W‑2 when you bring in your tax documents.

*The final pay stub should show total regular and overtime hours as well as gross pay details, allowing your preparer to calculate the deductible amount properly.

Submitting both your W‑2 and final pay stub ensures your ability to maximize your eligible overtime deduction and file your return accurately under the new 2025 rules.

For more information please visit:

IR-2025-114, Nov. 21, 2025 — The Department of the Treasury and the Internal Revenue Service today issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025.

12/17/2025

Under the One Big Beautiful Bill Act, signed July 4, 2025, taxpayers can now deduct interest paid on qualifying new auto loans. This is a major shift because personal auto loan interest was previously not deductible unless the vehicle was used for business purposes.

Key Details of the Deduction:

Amount: Up to $10,000 per year in interest for tax years 2025 through 2028.

Type: Above-the-line deduction – you can claim it even if you take the standard deduction (no need to itemize).

Form: Report on Schedule 1-A with your Form 1040 and include your vehicle’s VIN.

🚗 Eligibility Rules:

Vehicle Requirements:
-Must be new (not used).
-Final assembly must occur in the United States.
-Must be a car, SUV, pickup truck, minivan, van, or motorcycle under 14,000 lbs GVWR.
-For personal use only (business-use vehicles have separate rules).

Loan Requirements:
-Loan originated after Dec 31, 2024.
-Secured by a lien on the vehicle.
-Issued by a qualified lender (not friends/family).
-Refinancing is allowed if original loan and vehicle meet requirements.

Income Limits:
-Phase-out starts at $100,000 MAGI (single) and $200,000 (joint).
-Fully phased out at $150,000 (single) and $250,000 (joint).

⚠️ Important Notes

-Only interest is deductible, not principal.
-Leases and loans from related parties do not qualify.
-Keep documentation: purchase agreement, title, monthly statements, and VIN.

Be sure to keep this information in mind when providing your tax documents for 2025 to avoid missing out on this new tax deduction.

12/10/2025

Annual Office Spa Day to show these gorgeous ladies how much they are appreciated, and a little extra pampering before we head into the New Year! 💅🏻🎄

07/30/2025

We had a special little helper in the office today! Little Miss Emory always ready to brighten our day 🎀

07/10/2025

🌟 What is the One Big Beautiful Bill Act and what does it mean for me?✨

Key Tax Savings from the One Big Beautiful Bill Act:

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Permanent Tax Savings:

*Individual Tax Rates: The 2017 Tax Cuts and Jobs Act (TCJA) tax brackets, with a top rate of 37% and a bottom rate of 10%, are now permanent for individuals and families.

*Standard Deduction: The higher standard deduction is now permanent and will increase to $15,750 for single filers and $31,500 for joint filers, indexed for inflation after 2025.

*Child Tax Credit: The Child Tax Credit is permanently increased to $2,200 per child starting in 2025, up from $2,000.

*Estate & Gift Tax Exemption: The lifetime gift and estate tax exclusion rises to $15 million for single filers and $30 million for married couples, indexed for inflation.

*SALT Deduction: The State and Local Tax (SALT) deduction cap increases to $40,000 through 2029 for most filers, then reverts to $10,000 in 2030 and beyond.

*Mortgage Interest Deduction: Remains capped at $750,000 in mortgage debt ($375,000 for single filers).

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Temporary Tax Breaks (2025–2028):

**No Taxes on Tips or Overtime: Deduct up to $25,000 in tips and $12,500 in overtime income ($25,000 for joint filers). Deduction phases out for higher incomes.

**Senior Deduction: Additional $6,000 deduction for taxpayers age 65+, phasing out at $75,000 for singles and $150,000 for joint filers. This is on top of the existing senior deduction.

**Car Loan Interest: Deduct up to $10,000 in interest on U.S.-assembled vehicle loans for singles earning up to $100,000 ($200,000 for joint filers).

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New Savings Opportunities

***Trump Account: A new savings account for children, up to $5,000/year in contributions. Newborns (2025–2028) get $1,000 in federal seed money. Converts to a traditional IRA at age 18.

***Expanded HSA & 529 Uses: More health plans and participants can use HSAs; 529 funds now cover more educational expenses, including testing fees and tutoring.

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Additional Notes:

****No Change to Social Security Taxation: Social Security benefits remain taxable for higher-income recipients, but the new senior deduction may offset some of this for the next four years.

****Many Provisions Are Indexed for Inflation: Standard deduction, estate/gift tax exemption, and Child Tax Credit will rise with inflation after 2025

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For more information, visit the full article at:

President Trump hopes to preserve his signature 2017 Tax Cuts and Jobs Act (TCJA) in a bill called One Big Beautiful Bill Act (OBBA). Here's what else is in it and what you need to know.