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Houlihan, LLP

Houlihan, LLP is a full-service accounting firm. We can provide you with assistance that will improve your total financial well-being.

Our firm specializes in providing quality accounting services. We offer business valuation, tax planning, and financial planning for individuals and small businesses, as well as small business accounting. Please call or visit our website for more details.

06/17/2026

If you’ve recently lost your job, you’re likely focused on replacing income and evaluating your next steps. But some tax implications related to a job loss may also require attention. For example, unemployment compensation and severance pay are generally taxable, at least at the federal level. And health insurance premiums you’d been paying pre-tax from your paycheck may now have to be paid after-tax — though you might be able to deduct them. There are also tax consequences to consider in relation to your retirement plan with your former employer or withdrawing funds from an IRA to replace some of your lost income. If you’d like guidance, contact us.

06/09/2026

Many parents don’t know that the “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, the child’s unearned income in excess of $2,700 (for 2026) is taxed at the parent’s tax rate, if higher.

If your child has investment income from custodial accounts, consider reviewing the types of investments in those accounts. Growth-oriented investments that generate little current income may help reduce exposure to the kiddie tax until your child is old enough that the tax no longer applies.

If you’d like help evaluating your family’s situation, contact us.

06/02/2026

If you participate in a company 401(k) plan, there may be an option to add to your retirement nest egg that you’re not aware of: after-tax, non-Roth contributions. These contributions aren’t subject to the annual elective deferral limit ($24,500 for 2026, plus catch-up contributions if you’re age 50 or older). So, if your plan allows, you can make them after you’ve maxed out your deferral limit, including catch-up contributions, if applicable. They create tax basis in your account that can eventually be withdrawn tax-free. And growth on the money won’t be taxed until you start taking withdrawals. We can review your situation and help you determine whether you might benefit.

05/27/2026

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money.

Remember, the IRS will never contact you by email or text about a tax bill or refund. It also won’t demand immediate payment over the phone. Most IRS communications are sent through regular mail — though fraudsters may send fake IRS notices by mail, often including QR codes.

Don’t click on links, open attachments or scan QR codes from unknown senders that might direct you to fraudulent websites designed to steal personal or financial information. Contact us if you have questions.

05/19/2026

If you donate artwork to charity, the deduction you can claim depends on several factors, including the type of organization receiving the piece and how it will be used. Your deduction will generally be reduced if the charity’s use of the artwork is unrelated to the purpose or function that’s the basis for its qualification as a tax-exempt organization. The reduction equals the amount of capital gain you would have realized had you sold the artwork instead of giving it to charity. Other deduction limits as well as special substantiation and appraisal rules also may apply. If you’re considering donating artwork or other valuable property, contact us for help ensuring the best tax outcome.

05/12/2026

If you’re thinking about relocating, don’t choose a new state based only on climate, cost of living or proximity to family. Also review the tax implications.

For example, some states don’t have a personal income tax, and some that do have one offer tax breaks for pension payments, retirement plan distributions and Social Security payments. Also be aware that a state with no personal income tax may impose high property, sales or estate taxes.

Before making a move, contact us to review the potential income, property, sales and estate tax implications. We can help you minimize potential negative tax consequences and make the most of any tax advantages offered by the new state.

05/06/2026

Many taxpayers discover at filing time that their tax payments during the year didn’t align with their actual liability — either too much or too little was withheld from their paychecks. Keeping withholding aligned with expected tax liability can help you enjoy better cash flow during the year and avoid unwelcome surprises at filing time.

If you received a large refund or owed a lot of tax when you filed your 2025 return, it may be beneficial to fine-tune your withholding for 2026. Adjustments may also be a good idea if you experience a major life event, such as having a child.

We can help you review your withholding (and estimated tax payments, if applicable) and make any needed changes.

04/28/2026

Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out of balance with your desired asset allocation. If you haven’t rebalanced recently, it may be time. Careful planning can minimize the tax cost.
Say your portfolio is overweighted in large-cap U.S. stocks. You can save 2026 taxes if you sell some of this appreciated stock from a retirement account because the gain won’t be taxed. If you need to sell the stock from a taxable account, see whether there are assets in the account you can sell at a loss. The recognized loss can offset some or all of your capital gains.
Contact us to discuss other tax-smart strategies.

04/21/2026

Here are a few key tax-related deadlines for individuals for the rest of 2026. JUNE 15: Pay the second installment of 2026 estimated taxes, if applicable. SEPT. 15: Pay the third installment of 2026 estimated taxes, if applicable. OCT. 15: File a 2025 income tax return and pay any tax, interest and penalties due if an automatic six-month extension was filed. DEC. 31: Incur various expenses that potentially can be deducted on your 2026 tax return. Contact us for more information about the filing requirements and to help ensure you meet all deadlines that apply to you.

04/07/2026

If you’re not ready to file your 2025 federal individual income tax return by April 15, you can request an automatic extension. Filing an extension (Form 4868) by April 15 can give you breathing room to file accurately and protect you from the failure-to-file penalty (assuming you file by the extended Oct. 15 deadline).

But it doesn’t extend your deadline for paying tax owed. So you should project and pay any amount due by April 15 to minimize interest and late payment penalties.

Have questions about your situation? Need assistance estimating your tax liability or filing an extension? Contact us. We can help you stay compliant and minimize penalties and interest.

Address

421 E Cook Road, Ste 300
Fort Wayne, IN
46825

Opening Hours

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

Website

http://www.houlihan.biz/

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