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Professional Tax Solutions

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Klamath Falls, OR
Professional Tax Solutions

Tax Preparation All types of Income Tax Preparation, Payroll, Year End Reporting, Accounting, and Quickbooks assistance.

10/05/2026

Up to $5,120 of the Adoption Tax Credit Is Refundable for 2026 – Did You Know?

The Adoption Tax Credit helps eligible families manage qualified costs such as adoption fees, travel, legal services and home studies. In recent years, the credit was nonrefundable: it could reduce a person's federal income tax, but any unused amount generally had to be carried forward.

Under rules that took effect in 2025, part of the credit is now refundable. For tax year 2026, up to $5,120 per eligible child may be refundable, even if the taxpayer owes no federal income tax. Any unused nonrefundable portion may be carried forward for up to five years, but a carryforward cannot become refundable in a later year.

The Adoption Tax Credit is subject to income limits and other restrictions, and the timing of a claim depends on the circumstances of the adoption. A tax professional can help determine whether you qualify and how much credit you may claim.

09/30/2026

If you filed for an extension, the October 15 tax filing deadline is approaching.

Now is a good time to gather your income documents, deduction records, and any prior IRS or tax-related correspondence. Having these materials organized can help make the preparation process more efficient.

If you need professional tax preparation support, our team at Professional Tax Solutions is here to help. Contact us at (541) 885-2170.

09/21/2026

Enhanced Tax Credit Can Help Cover 2026 Care Costs – Did You Know? (1/2)

If you pay for care for your qualifying child under age 13, or for your spouse or other qualifying person who is physically or mentally incapable of self-care and lives with you for more than half the year, then you may qualify for a federal tax credit. The Child and Dependent Care Tax Credit (CDCTC) can help cover care expenses you pay in order to work or seek work. Rule changes that took effect this year have made the CDCTC more valuable for many households.

As in past years, you may use up to $3,000 of eligible expenses to figure the credit for one qualifying person, or up to $6,000 for two or more qualifying persons. However, beginning in 2026, the maximum credit rate increased from 35% to 50% of eligible expenses. The applicable percentage declines as adjusted gross income rises, but many households may qualify for a larger credit than under prior law. The increase can be as much as $900 for taxpayers with two or more qualifying persons.

In general, the CDCTC is available for all filing statuses except married filing separately (MFS). However, MFS filers may qualify if they meet special requirements, including filing separately, maintaining a home for a qualifying person for more than half the year, paying more than half the cost of maintaining the home, and not living with their spouse during the last six months of the year. To claim the credit, you must provide information about both the care recipient and care provider on your tax return. A tax professional can help you determine whether you are eligible for the CDCTC, and if so, help you meet the reporting requirements to claim the largest possible credit.

09/08/2026

Quarterly Estimated Tax Payments - Reminder

If you are making quarterly estimated tax payments to the IRS, the due date for the June 1 - August 31, 2026 payment period is coming up next week on Tuesday, September 15, 2026.

For payments made using IRS Direct Pay, you can make payments until 11:45 p.m. ET on the due date. Debit and credit card payments may also be made online through an IRS-approved payment processor.

09/01/2026

Educator Classroom Expense Deduction – Did You Know?

Eligible K-12 teachers, instructors, counselors, principals and aides who pay for classroom supplies out of pocket may deduct up to $350 of qualifying expenses per year. Married couples filing jointly who are both eligible educators may deduct up to $350 each, for a combined maximum of $700.

You do not need to itemize deductions to claim this deduction. Be sure to keep receipts and other records for any classroom expenses you plan to deduct.

08/29/2026

If you filed a tax extension, August is an ideal time to get organized and stay ahead of the October deadline.

We recommend using this time to gather any missing documents, confirm all income items have been accounted for, and carefully review potential deductions. Taking these steps now can help reduce stress, minimize errors, and avoid a last-minute rush as the deadline approaches.

Our team is here to provide guidance and ensure your return is completed accurately and on time. If you filed an extension and would like support, we invite you to contact Professional Tax Solutions, Inc. to get started.

08/27/2026

Understanding key accounting terms can make a meaningful difference when reviewing your tax situation. Here are three important concepts explained in plain English:

Taxable income: This is the portion of your income that is subject to tax after adjustments and deductions are applied. It determines how much tax you owe.

Deductions: Deductions reduce your taxable income. Common examples include certain business expenses, mortgage interest, and charitable contributions.

Credits: Credits directly reduce the amount of tax you owe, dollar for dollar. In many cases, they provide greater savings than deductions.

If you would like help understanding your tax picture or how these terms apply to your situation, we invite you to contact our office to speak with our team.

08/25/2026

August is an ideal time to begin year-end tax projections rather than waiting until December. Taking a proactive approach allows us to review income, withholding, estimated tax payments, retirement contributions, charitable giving, and business deductions while there is still time to make meaningful adjustments.

By planning ahead, we can help identify opportunities, reduce surprises, and keep your overall tax strategy aligned with your financial goals.

If you would like to get ahead of year-end planning, we invite you to schedule a conversation with Professional Tax Solutions, Inc. Our team is here to provide thoughtful, personalized guidance.

08/24/2026

Major Higher Education Tax Credits Now Require Valid SSN – Did You Know?

The American Opportunity Tax Credit (AOTC) and Lifetime Learning Credit (LLC) help many Americans pay for higher education. For eligible students pursuing a degree or other recognized credential, the AOTC can cover up to $2,500 in tuition, required school fees and certain course materials per year. Meanwhile, the LLC can offset up to $2,000 per tax return for qualified education expenses for eligible students taking higher education courses for a variety of reasons.

Beginning with tax year 2026, the taxpayer claiming either the AOTC or LLC (and spouse, if filing jointly) must have a Social Security number (SSN) valid for work in the United States that was issued before the due date of the tax return, including extensions. If the eligible student is not the person claiming the credit (for example, if the student is that person's dependent or spouse), then the student must also have a valid SSN issued by that deadline. Other qualification requirements, such as income limits, remain in effect. A tax professional can help you determine whether the higher education expenses you pay for yourself, your spouse or a dependent qualify for a tax benefit.

08/22/2026

Unexpected calls, texts, emails, or letters claiming to be from the IRS can be concerning—and in many cases, they may be scams. We encourage our clients to approach any tax-related communication with caution.

Legitimate IRS notices should be reviewed carefully and verified before taking any action. The IRS will never demand immediate payment or request sensitive personal or financial information through unsolicited communication. Sharing information without confirming the source can put you at risk.

If you receive a notice and are unsure of its legitimacy, we are here to help. Contact Professional Tax Solutions, Inc. for guidance and peace of mind at (541) 885-2170.

Address

5624 Delaware Avenue
Klamath Falls, OR
97603

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm
Saturday	9am - 3pm

Telephone

(541) 885-2170

Website

http://www.protaxsolutionsforu.com/

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