VAN DE VEN CPAs + BUSINESS CONSULTANTS

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VAN DE VEN CPAs + BUSINESS CONSULTANTS CPA firm focused on Audit, Tax & Consulting for Individuals & Small/Medium Size Businesses

Roth IRAs debuted in 1998, but the difference between them and traditional IRAs can still cause confusion. Traditional I...
11/02/2026

Roth IRAs debuted in 1998, but the difference between them and traditional IRAs can still cause confusion. Traditional IRA contributions are often tax deductible. Withdrawals, however, are usually taxable and may trigger a 10% penalty before age 59½. Roth contributions aren’t deductible, but you can withdraw them tax- and penalty-free any time. And withdrawals of Roth earnings are typically tax-free if you’re age 59½ or older. Traditional IRAs require minimum distributions starting at age 73 (75 if you were born in 1960 or later). Roth IRA owners have no required withdrawals during their lifetimes. Contact us to discuss the best ways for you to save for retirement.

When owners provide funds to their businesses, proper classification matters. Depending on the facts and circumstances, ...
11/02/2026

When owners provide funds to their businesses, proper classification matters. Depending on the facts and circumstances, an advance may be classified as debt or an equity contribution under U.S. Generally Accepted Accounting Principles (GAAP). Relevant considerations include the intent to repay, the terms of the advance and the business’s ability to repay. How an advance is treated in tax filings and other records may provide additional evidence about the parties’ intentions. Clear documentation from the start can help support the appropriate treatment and related disclosures. Contact us for help classifying and reporting shareholder advances.

Owners of businesses taxed as partnerships sometimes pay work-related expenses out of pocket. Whether such payments are ...
11/02/2026

Owners of businesses taxed as partnerships sometimes pay work-related expenses out of pocket. Whether such payments are deductible for federal tax purposes depends largely on the partnership agreement, LLC operating agreement, or an established policy or practice. Allowable expenses may be deductible if the owner is required to bear them without reimbursement. Expenses that could have been reimbursed — regardless of whether reimbursement was requested — generally aren’t deductible. Qualifying costs include business meals, vehicle expenses and home office expenses, subject to applicable limits and substantiation rules. Contact us to review your business’s policies and potential deductions.

Test your knowledge on Net operating loss deductions
11/01/2026

Test your knowledge on Net operating loss deductions

🎃 What's scarier than ghosts, goblins, and things that go bump in the night?An IRS audit!Nobody wants an unexpected lett...
10/31/2026

🎃 What's scarier than ghosts, goblins, and things that go bump in the night?

An IRS audit!

Nobody wants an unexpected letter from the IRS or another taxing authority. A tax audit can be stressful, time-consuming, and costly—particularly when records are incomplete or questions arise about a tax return.

While you can't always prevent an audit, you can take steps to be prepared. Keeping accurate records, addressing tax issues proactively, and working with knowledgeable tax professionals can make a big difference.

At Van de Ven CPAs + Business Consultants, we're here to help you stay prepared and keep tax matters from turning into a real-life horror story.

Have a safe and happy Halloween!

Remember: When it comes to taxes, being prepared is no trick! 🎃

Some small business owners making building improvements may not have to wait years to deduct all of the costs. A special...
10/31/2026

Some small business owners making building improvements may not have to wait years to deduct all of the costs. A special IRS safe harbor lets qualifying small businesses deduct certain improvement costs immediately instead of depreciating them over several years. To qualify, the business’s average annual gross receipts must be $10 million or less for the preceding three tax years, and the building’s unadjusted basis can’t exceed $1 million. Total annual spending on repairs, maintenance, improvements and similar work on a building must not exceed the lesser of $10,000 or 2% of the building’s unadjusted basis. Before starting a project, call us to see whether your business qualifies.

Did you serve on jury duty this year? You may qualify for a federal income tax deduction. If your employer continued pay...
10/30/2026

Did you serve on jury duty this year? You may qualify for a federal income tax deduction. If your employer continued paying you while you served and required you to turn over the jury duty pay you received from the court, you generally can deduct the amount you remitted to your employer. This deduction is taken as an adjustment to income, so you don’t need to itemize deductions to claim it. However, you must still report the jury duty pay you received as taxable income. Contact us if you think this situation applies to you or if you have questions about claiming the deduction.

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 20...
10/30/2026

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 2026, eligible educators may have two ways to deduct qualifying unreimbursed expenses: A deduction of up to $350 is available whether or not they itemize, and a new deduction with no dollar cap is available to itemizers. Educators eligible for both deductions can first claim the above-the-line deduction and reap the benefits of reducing their adjusted gross income and, if they have eligible expenses in excess of $350, claim the itemized deduction for those excess expenses. (Educators can’t claim both deductions for the same expenses.) Contact us to see if you may be eligible.

If you’re one of the more than 50,000 taxpayers who claimed a prior-year carryforward of the adoption tax credit, you ma...
10/30/2026

If you’re one of the more than 50,000 taxpayers who claimed a prior-year carryforward of the adoption tax credit, you may receive a refund by the end of 2026. For tax year 2025, adoption tax credit carryforwards from tax years 2020 through 2024 can increase the refundable amount of the credit (limited to $5,000 per qualifying child). The IRS will send you a notice within 30 days of any adjustment that explains whether it resulted in a refund or was applied toward a tax or nontax debt. Be sure to review and retain the notice. You don’t need to file an amended return to receive this credit. Contact us with any questions.

The IRS has finalized regulations allowing it to accept credit and debit card tax payments directly. Previously, it was ...
10/29/2026

The IRS has finalized regulations allowing it to accept credit and debit card tax payments directly. Previously, it was prohibited from paying fees under third-party processor contracts and taxpayers were directed to a separate site to make card payments. Taxpayers paid processing fees directly to the third-party processor. Now, the IRS may contract with processors that charge fees as long as it fully recovers those costs from taxpayers. In general, the IRS may only enter into contracts if they’re cost-beneficial to the federal government. Taxpayers will be required to pay any reimbursement when they make their payments. These costs aren’t eligible for refund or credit.

Address

1020 N Kingshighway Suite D
Cape Girardeau, MO
63701

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+15733351231

Website

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