Valhalla Tax Services LLP

Valhalla Tax Services LLP We specialize in Tax Planning, Tax Preparation, Tax Resolution, and Financial Planning

**You have an extra $500. Should you pay down debt, build savings, or invest it for retirement?**The best answer depends...
08/28/2026

**You have an extra $500. Should you pay down debt, build savings, or invest it for retirement?**

The best answer depends on your situation.

• High-interest debt may be costing you the most
• Limited emergency savings could leave you financially exposed
• An employer retirement match may offer an immediate opportunity

Financial progress isn’t only about saving more. It’s about directing your money toward the priority that strengthens your overall position the most.

**Earning more than expected in 2026?**Before automatically increasing your tax withholding, consider whether increasing...
08/24/2026

**Earning more than expected in 2026?**

Before automatically increasing your tax withholding, consider whether increasing your **pretax 401(k) or 403(b) contributions** could be a better strategy.

Pretax contributions may reduce current taxable income while keeping more of your money invested for retirement.

The 2026 employee contribution limit is **$24,500**, plus applicable catch-up contributions.

A tax projection can help determine whether retirement contributions, additional withholding, or a combination of both produces the best result.

Having a stronger business year than expected?If your business already needs new equipment, purchasing and placing quali...
08/17/2026

Having a stronger business year than expected?

If your business already needs new equipment, purchasing and placing qualifying property in service may create an opportunity to reduce 2026 taxable income.

Under current bonus-depreciation rules, certain qualifying assets may be eligible for a 100% first-year deduction.

The key is coordinating a necessary business investment with the year the deduction provides the greatest tax benefit.

An investment loss may still create a valuable tax opportunity.Capital-loss harvesting involves selling an investment at...
08/06/2026

An investment loss may still create a valuable tax opportunity.

Capital-loss harvesting involves selling an investment at a loss to offset taxable capital gains. If losses exceed gains, up to $3,000 may generally be used against ordinary income, and unused losses can carry forward.

Just be careful: repurchasing the same or a substantially identical investment too soon could trigger the **wash-sale rule** and postpone the deduction.

A declining investment isn’t automatically one you should sell—but it may be worth reviewing before year-end.

Tax mistake I see too often: Believing that forming an LLC automatically lowers your taxes.An LLC can provide important ...
08/05/2026

Tax mistake I see too often: Believing that forming an LLC automatically lowers your taxes.

An LLC can provide important legal and organizational benefits, but simply creating one does not automatically change how the business is taxed.

The result depends on:

✅ How the LLC is classified for tax purposes
✅ How much profit the business earns
✅ Whether the owner takes payroll
✅ Which deductions are properly claimed
✅ Whether another tax election is appropriate

An LLC and an S corporation are not the same thing—and making an S-corporation election isn’t automatically the best answer for every business.

The business structure is important. Understanding how that structure is being taxed is just as important.

Tax mistake I see too often: Believing a big refund always means you “did well” on your taxes.Sometimes a refund include...
08/03/2026

Tax mistake I see too often: Believing a big refund always means you “did well” on your taxes.

Sometimes a refund includes valuable tax credits. But sometimes it simply means more tax was taken from your paychecks than was ultimately necessary.

You didn’t necessarily save additional tax—you may just be receiving your own money back.

The real question is:

Was your refund created by legitimate tax savings, refundable credits, or excessive withholding?

Those are very different outcomes. Knowing the difference can help you make better decisions about your paycheck and cash flow.

Would you rather receive a big refund or have more money available throughout the year?

Have you received an IRS penalty notice?A new IRS process may automatically provide relief from certain failure-to-file,...
07/29/2026

Have you received an IRS penalty notice?

A new IRS process may automatically provide relief from certain failure-to-file, failure-to-pay, or failure-to-deposit penalties for eligible taxpayers with a history of filing and paying on time.

But there are some important limitations:

❌ The underlying tax does not disappear
❌ Interest may still be owed
❌ Not every return or penalty qualifies
❌ Some taxpayers may still need to request other relief

Before paying an IRS penalty without question, have the tax period, penalty type, and your compliance history reviewed.

A penalty may be removable—but the correct strategy depends on your individual circumstances.

Need help understanding an IRS notice? Contact Valhalla Tax & Finance at 623-887-7921.

The next estimated-tax deadline is September 15, 2026—but simply making a payment doesn’t mean you’re paying the right a...
07/27/2026

The next estimated-tax deadline is September 15, 2026—but simply making a payment doesn’t mean you’re paying the right amount.

This is especially important if you receive income from:

Self-employment or a business
Investments or capital gains
Rental properties
Retirement distributions
Contract or gig work
Income without sufficient tax withholding

If your income has changed since your estimated payments were originally calculated, your payment amount may need to change as well.

Underpaying throughout the year can produce an unexpected tax bill—and potentially an underpayment penalty. Overpaying unnecessarily means giving up cash flow you could be using elsewhere.

Let’s calculate what you’re actually on track to owe before September 15 arrives.

Contact Valhalla Tax & Finance to schedule a Mid-Year Tax Review.

Your 2026 tax bill is already taking shape.A promotion, job change, retirement, investment gain, business-income increas...
07/24/2026

Your 2026 tax bill is already taking shape.

A promotion, job change, retirement, investment gain, business-income increase, or change in your household could leave your current withholding or estimated payments falling short.

A Mid-Year Tax Review can help answer three important questions:

✅ What is your projected federal and state tax liability?
✅ Are you currently paying enough?
✅ Should you adjust your withholding or estimated payments?

Finding the problem now gives you time to make smaller, manageable adjustments. Finding it during tax season may mean an unexpected balance due.

Don’t wait until filing season to discover the answer.

Contact Valhalla Tax & Finance to request your 2026 Mid-Year Tax Review.

Business owners: Don’t miss this midyear tax change!The IRS increased the business mileage rate from 72.5¢ to 76¢ per mi...
07/22/2026

Business owners: Don’t miss this midyear tax change!

The IRS increased the business mileage rate from 72.5¢ to 76¢ per mile, beginning July 1, 2026.

Because two rates apply this year, your mileage records should separate trips taken:

📅 Before July 1: 72.5¢ per mile
📅 July 1 and later: 76¢ per mile

Make sure every trip includes the date, mileage, destination, and business purpose. Waiting until tax season to reconstruct your mileage could mean missing valuable deductions.

Save this post and share it with a business owner who needs to know.

Need help staying ahead of tax changes? Reach out to Valhalla Tax & Finance.

Address

7705 W Bell Road Suite B20
Glendale, AZ
85308

Opening Hours

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Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 4pm

Telephone

+16026927941

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