Altruist Tax and Accounting LLC

04/15/2026

Spotted in a tree by the office. What an amazing thing to see on Tax Day!

04/01/2026

BIG NEWS: IRS Updates Dependent Guidelines for 2026

Starting today, the IRS has officially updated its guidelines to recognize pets as dependents! You can now claim your furry, feathered, or scaled friends on your tax return.

Documentation requirements are simple: just provide a copy of their favorite toy and a photo of them napping in a sunbeam. It’s about time they started contributing to the household! Check your tax software for the new 'Pet Dependent' box. APRIL FOOLS!

03/28/2026

02/09/2026

The data is out! The median amount of retirement savings across the US workforce is only $955.
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Saving for retirement is critical, and it's not just about picking the right stocks. It's also about choosing the right tax buckets.
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We can help you maximize your contributions towards your 401(k), IRA, or SEP IRA. We can also help analyze if a Roth conversion makes sense for your tax situation.
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Want to make sure your business is working hard for your retirement just as you work hard for your business? Many business owners miss out on powerful retirement vehicles like Solo 401(k)s, SEP IRA, and SIMPLE IRAs. These plans offer great tax deductions while also building wealth for later.

01/12/2026

Tax season is almost here! Our team is ready to help you navigate this year’s filings with precision and peace of mind. Whether you’re a small business owner or filing personal returns, we ensure every deduction is maximized and every deadline is met.

Why partner with Altruist Tax and Accounting, LLC this year?

Expert Oversight: Avoid costly errors and audits.

Maximum Savings: We find the credits you might miss.

Stress-Free Process: We handle the paperwork; you focus on what matters.

11/27/2025

My stomach: 'I'm full.' Me: 'Okay, but hear me out... pie.' 🥧

Happy Thanksgiving everyone! May your pants be stretchy and your naps be long.

11/05/2025

For 2025, the limit on the federal deduction for state and local taxes (the SALT cap) increases to $40,000 ($20,000 for married taxpayers filing separately) from the previous $10,000.

The amount of the deduction available to a taxpayer is reduced by 30% of the amount the taxpayer’s MAGI exceeds $500,000 ($250,000 for married taxpayers filing separately), but the phaseout stops when the deduction reaches $10,000 ($5,000 for married taxpayers filing separately). The act did not limit the various workarounds that states have enacted and taxpayers are currently using to avoid the SALT cap.

10/15/2025

That's a wrap on another successful tax season! 🎉We want to extend a HUGE thank you to all our clients for choosing us as their trusted tax and advisory provider. We appreciate you!

10/07/2025

Friendly reminder for all the tax procrastinators out there! If you filed for an extension, the deadline to file your 2024 federal and Wisconsin individual income tax returns is Wednesday, October 15, 2025. Don't miss it!

10/02/2025

The IRS has issued final regulations addressing several SECURE 2.0 Act provisions relating to catch-up contributions. Catch-up contributions are additional contributions under a 401(k) or similar workplace retirement plan for employees age 50 or older.
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The final regulations include final rules related to a SECURE 2.0 Act provision requiring that catch-up contributions made by certain higher-income participants be designated as after-tax Roth contributions.
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Effective for tax years beginning after December 31, 2025, participants whose wages for the preceding calendar year exceed $145,000 can only make catch-up elective deferrals as designated Roth contributions. If the plan does not provide for a designated Roth option, then participants with wages exceeding $145,000 cannot make additional catch-up elective deferrals. This rule does not apply to SEPs or SIMPLE plans. The $145,000 threshold is indexed for inflation after 2024.

09/12/2025

Need an Employer Identification Number (EIN)? The IRS recently modernized the online application experience. Although the application has a new look, the overall functionality remains the same.
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Don’t feel confident in applying yourself? That’s okay! Applying for an EIN is one of our various service offerings.

09/12/2025

Getting tax advice from TikTok? That viral TikTok tax hack could lead to a serious tax problem.
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The IRS has assessed more than $162 million in penalties tied to social media tax schemes. Our advice? Always verify claims with credible sources or consult with a qualified tax professional.