Glen Hughes , CPA PC

Glen Hughes , CPA PC Glen Hughes, CPA PC we offer Business Consulting to help you grow your business no matter the size. A

Full Service CPA firm providing big firm services along with small firm value and customer service.

When you file your 2025 income tax return, you can deduct your charitable donations only if you itemize deductions. But ...
03/04/2026

When you file your 2025 income tax return, you can deduct your charitable donations only if you itemize deductions. But beginning with donations made in 2026, people who take the standard deduction instead of itemizing can claim a charitable deduction of up to $1,000 ($2,000 for married couples filing jointly). Only “cash” donations qualify, but the definition may be broader than you think. It includes gifts made by debit or credit card, check, ACH, online payment platform and payroll deduction. Call us at (615) 210-8201 to discuss what you can deduct on your 2025 return and your donation strategy for 2026.

If you expect to owe tax when you file your return and don’t think you’ll be able to pay the entire amount due, it may b...
03/03/2026

If you expect to owe tax when you file your return and don’t think you’ll be able to pay the entire amount due, it may be tempting to put off filing. But remember, filing for an extension doesn’t extend your payment deadline. So consider filing on time and paying what you can. If you pay at least part of what you owe on time, you can reduce the interest and late payment penalty you’ll owe because your unpaid balance after the April 15 deadline will be lower. Then set up a payment plan with the IRS. Both short-term and long-term plans are available. Contact us at (615) 210-8201 to get your return filed on time.

Staying on top of your tax, retirement and estate planning is essential to protecting your financial future. We can help...
03/02/2026

Staying on top of your tax, retirement and estate planning is essential to protecting your financial future. We can help you keep these pieces aligned by ensuring your tax strategy is efficient, your retirement planning stays on track, and your estate plan reflects your goals and current laws. With proactive oversight, you can avoid costly surprises and maintain long-term financial confidence. Contact us at (615) 210-8201 for personalized guidance.

The IRS has published new FAQs on Executive Order 14247, which calls for eliminating paper checks to and from the IRS. T...
02/27/2026

The IRS has published new FAQs on Executive Order 14247, which calls for eliminating paper checks to and from the IRS. This change is to reduce fraud, enhance security, lower costs and speed up processing. The IRS is encouraging taxpayers to provide banking information on their 2025 tax returns so it can issue refunds via direct deposit. For taxpayers without a bank account, options such as prepaid debit cards, digital wallets or limited exceptions to the “no paper checks” rule are available. If you owe tax, electronic payment methods are preferred, but the IRS will continue to accept mailed paper checks and money orders for now. Contact us at (615) 210-8201 if you have any questions or concerns.

Business owners are widely (and quite rightly) advised to regularly engage in detailed strategic planning. But a common ...
02/25/2026

Business owners are widely (and quite rightly) advised to regularly engage in detailed strategic planning. But a common problem is that the details can pile up quickly, leaving owners feeling overwhelmed and uncertain. The solution: Follow a methodical, step-by-step approach that enables you to chart an adaptable and profitable course into the future. Contact us at (615) 210-8201 for help designing or refining your business’s strategic planning process.

The decision to itemize deductions or claim the standard deduction can have a big impact on your tax bill. With a higher...
02/24/2026

The decision to itemize deductions or claim the standard deduction can have a big impact on your tax bill. With a higher standard deduction and itemized deductions more limited, many taxpayers who once benefited from itemizing have been better off taking the standard deduction. But the recent quadrupling of the deduction limit for state and local taxes could make itemizing worthwhile again for some. Not sure which is better for you? We can help. Call us at (615) 210-8201.

Many businesses today outsource one or more of their IT functions to save money. Yet if you don’t manage the risks invol...
02/23/2026

Many businesses today outsource one or more of their IT functions to save money. Yet if you don’t manage the risks involved, you could end up spending more and getting less in return. For example, slow support times or services that don’t match your objectives or employees’ needs can undermine productivity. Contact us at (615) 210-8201 for help evaluating a prospective IT outsourcing arrangement or assessing the ROI of an existing one.

Your marital status affects many federal tax filing variables, including your standard deduction, credit eligibility and...
02/20/2026

Your marital status affects many federal tax filing variables, including your standard deduction, credit eligibility and tax owed. If you’re currently “informally” separated from your spouse but still legally married, the IRS generally considers you married for the entire year (even if you’ve lived apart for many months). Unless you divorced or legally separated by Dec. 31, 2025, you must file as married filing jointly or married filing separately for the 2025 tax year. If, on the other hand, you finalized a divorce or legal separation in 2025, you should file as single or, if eligible, head of household. Call us at (615) 210-8201 if you have questions about filing your tax return.

If you own a business, you can leverage your annual gift tax exclusions ($19,000 per recipient for 2026) and your lifeti...
02/18/2026

If you own a business, you can leverage your annual gift tax exclusions ($19,000 per recipient for 2026) and your lifetime gift and estate tax exemption ($15 million for 2026) by gifting ownership interests. These interests may be eligible for valuation discounts for lack of control and marketability. Another way to benefit from valuation discounts is to set up a family limited partnership (FLP). You fund the FLP with assets such as public or private stock and real estate, and then gift limited partnership interests. Contact us at (615) 210-8201 for additional details.

Business structure affects both taxes and personal liability. The tax factors are particularly complex. A tax-smart tax ...
02/17/2026

Business structure affects both taxes and personal liability. The tax factors are particularly complex. A tax-smart tax move for one business could be costly for another. Before making a change to your existing business structure or choosing one for your new business, contact us at (615) 210-8201. We can help you determine which structure will best support your business and financial goals.

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners ...
02/16/2026

Good news for small business owners! The 20% qualified business income (QBI) deduction for pass-through business owners is now permanent. (It had been scheduled to expire after 2025.) This break reduces taxable income for eligible sole proprietors, partners, S corp owners and, generally, LLC members. Beginning in 2026, expanded income ranges over which certain limits phase in may allow more taxpayers to qualify for the QBI deduction, and some may enjoy larger deductions. Contact us at (615) 210-8201 to learn how you can benefit.

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