Orsborn, Sutphen & O'Neal, P.A.

10/31/2026

Changed jobs this year? Picked up a second one?

A lot of our neighbors have had a year of job changes, and when your paycheck comes from more than one employer, your tax withholding can quietly fall behind. That kind of surprise usually doesn't show up until you file.

There's still time to do something about it before Dec. 31. Our next Tax Tip covers how to check your withholding before year end, and you won't want to miss it.

Follow our page so you catch it, and visit us at www.osocpa.com.

This is general information, not advice for your specific situation.

10/29/2026

**2026 Tax Tip: Mississippi tax credits for school and charity gifts**

The new federal scholarship credit does not start until 2027, but Mississippi already offers its own tax credits for gifts to certain qualified organizations.

As of the Mississippi Department of Revenue (DOR) allocation lists updated Oct. 5, 2026:

**Used up for 2026:**
- Educational Services Charitable Organizations / ESCO credit (businesses)
- Qualified Charitable and Foster Care Charitable Organizations / QCO & QFCCO credits (individuals)
- Eligible Transitional Home Organizations / ETHO credit (individuals)

**Still available:**
- Pregnancy Resource Charitable Organizations / PRCO credit (individuals and businesses)
- Eligible Special-Purpose Schools / ESPS credit (businesses, new for 2026)

Before you make a contribution, confirm the credit is still available with DOR. Caps can fill quickly, and the amounts may have changed since Oct. 5. DOR opens 2027 credit applications online Jan. 4, 2027, at 8:00 a.m. Central.

Check current availability: www.dor.ms.gov/charitablecredits

This is general information, not advice for your specific situation.

Questions about your situation? Call us at (662) 453-4175.

10/29/2026

**2026 Tax Tip: Mississippi and the new federal scholarship tax credit**

You may see schools or education groups talking about "turning taxes into scholarships." Here's the 2026 reality check:

- The new federal scholarship tax credit (IRC § 25F) starts with gifts made in 2027. Gifts made in 2026 don't qualify.
- Beginning Jan. 1, 2027, individuals may claim a federal credit of up to $1,700 for cash gifts to an approved Scholarship Granting Organization (SGO).
- Mississippi is on the IRS list of 2027 participating states. As of now, we haven't found a published list of approved Mississippi SGOs. States have until Feb. 15, 2027 to submit one.

Bottom line: before you give, check that the group is an approved SGO for the federal credit, not just a school, a nonprofit, or a Mississippi charitable-credit organization.

Where to watch:
• IRS participating states for the federal credit: https://www.irs.gov/government-entities/federal-state-local-governments/federal-scholarship-tax-credit-fstc-participating-states
• Mississippi's own state charitable credits (separate program): https://www.dor.ms.gov/charitablecredits

This is general information, not advice for your specific situation.
Questions about your situation? Call us at (662) 453-4175.

10/27/2026

10/22/2026

Coming next Tuesday: our Year-End Tax Planning series 🍂
Starting October 27 and running through the end of December, we'll share one short year-end tax topic every Tuesday. We'll cover what's new for 2026, retirement and HSA contributions, charitable giving changes, equipment purchases for businesses and farms, and more.
Some planning steps only count if they happen by December 31, so it helps to start early.
Follow our page so you don't miss a week!

10/21/2026

Social Security benefits are going up 3.6% in 2027.
That's about $75 more a month for the average retiree. The increase starts in January for Social Security beneficiaries and on December 31 for SSI recipients.
To get your notice online, set up a "my Social Security" account at ssa.gov and choose paperless delivery by November 18. Otherwise, a paper notice will arrive in December.
Source: SSA news release, October 14, 2026.

10/20/2026

Tax tip: Low medical expenses? Your HSA can still work for you!

If you've been healthy and rarely hit your deductible, an HSA (available with a high-deductible health plan) is a powerful way to save:

• Contributions are tax-deductible
• Growth is tax-free
• Withdrawals for qualified medical expenses are tax-free
• Unused funds roll over every year, with no "use it or lose it"

For 2026, you can contribute up to $4,400 (self-only) or $8,750 (family), plus an extra $1,000 if you're 55 or older.

Think of it as a bonus retirement account for future health costs. You can even invest the balance once it hits your plan's minimum.

Year-end is a great time to check how much you've contributed so far. Not sure how much to put in? Give us a call!

10/19/2026

Have you heard the news? Everyone's going mobile, even the IRS!

The new free IRS app replaces IRS2Go, so you can check your refund status, make payments, and grab your IP PIN right from your phone. Download it only from the App Store or Google Play, and ignore any texts or emails asking for your info.

07/09/2026

The Mississippi Sales Tax Holiday, often referred to as Tax-Free Weekend, starts this Friday! ​

​Take advantage of tax-free shopping on eligible items from 12:01 a.m. Friday through midnight Sunday. ​​

​​>> View the Official Guide for a list of eligible and non-eligible items here: ​​https://shorturl.at/PUUUc

04/27/2026

Our offices will be closed on Monday, April 27, in observance of a state holiday. We will re-open on Tuesday, April 28.