Angelica Floyd Tax Service

01/19/2026

Business expenses such as advertising, supplies, software, bank fees, professional services (legal, accounting), and utilities for your business are generally deductible if they are ordinary and necessary for your work.

01/17/2026

Standard Deduction 2026 Tax Season:

• Single: $15,750
• Married filing separately: $15,750
• Head of household: $23,625
• Married filing jointly: $31,500
• Qualifying surviving spouse: $31,500

01/16/2026

For your security, please DO NOT transmit personal or confidential tax information through email or text message.

01/14/2026

The federal “No Tax on Overtime” provision lets:

•Single filers deduct up to $12,500 of qualified overtime pay each year.

•Married filing jointly deduct up to $25,000 per year.

01/12/2026

For 2025, tips are still taxable income, but a new federal deduction can effectively make up to a portion of your tips “tax‑free” for income tax purposes if you qualify. You will still owe Social Security and Medicare (payroll) tax on those tips, and possibly state income tax.

01/01/2026

02/26/2025

02/24/2025

Now thy lay them down to sleep. I pray their taxes get released. May the status update overnight, and show them a date by morning light. Amen!

02/08/2025

Fuel Credit: Most truckers, as we are aware, operate vehicles intended for highway use, and the fuel tax credit applies to off-highway fuel usage. Truckers DO NOT permit preparers to claim the fuel tax credit on highway trucks.

02/08/2025

For assistance obtaining your 1095-A form, please contact 1-800-318-2596.

Health Insurance Marketplace.

02/07/2025

Under the federal Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February.

IRS should show an updated status by February 22 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by March 3 if they chose direct deposit and there are no other issues with their tax return.

02/07/2025

If you are filing a Schedule C to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor, you will need receipts, bank statements and/or a notarized statement of your income and expenses.