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Catherine Accounting & Tax Services LLC

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Catherine Accounting & Tax Services LLC

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Helping individuals & entrepreneurs with stress-free taxes, bookkeeping & IRS solutions.

11/02/2026

Contractors: 100% bonus depreciation is back, and it is permanent.

The One Big Beautiful Bill Act restored the full first-year deduction for qualifying equipment, machinery and vehicles placed in service after January 19, 2025. No more phase-down. No more spreading the write-off over five years.

But here is the part nobody is talking about: the IRS is operating with reduced staffing, and that makes YOUR documentation the difference between a clean return and a months-long review.

Before you claim it this year:
✅ Confirm the actual placed-in-service date for every asset (a signed contract does not always set the clock)
✅ Clean up your fixed-asset ledger, ghost assets invite questions
✅ If you are doing a cost segregation study on a building, make sure it is engineering-based and ties to IRS guidance
✅ Keep invoices, cost allocations and capitalization policies organized BEFORE filing season

The deduction is generous. The paperwork has to match.

At Catherine Accounting & Tax Services LLC, we help contractors and construction business owners capture every dollar of accelerated depreciation with records that hold up.

Ready to stress-test your equipment purchases before year-end? Book through our contact form: https://www.cattaxpro.com/contact.php

General information only; not individualized tax advice.

11/02/2026

The 179D deduction is not dead for work you already started. 🔧

Contractors, HVAC and mechanical crews: you may have heard that the energy-efficient commercial buildings deduction was terminated. That is only half the story.

Under the One Big Beautiful Bill Act, the Section 179D deduction is terminated for property where construction begins after June 30, 2026. Jobs where construction began on or before June 30, 2026 are still eligible.

What the deduction is worth in 2026:

✅ Base deduction: roughly $0.59 to $1.19 per square foot, based on energy savings

✅ Increased deduction: roughly $2.97 to $5.94 per square foot, roughly five times the base, when prevailing wage and apprenticeship requirements are met

Here is the point most owners miss: your payroll records decide how much you get.

To claim the increased deduction, you need documentation like certified payroll showing laborers and mechanics were paid prevailing wage rates, plus records of qualified apprenticeship labor hours. Miss the records, and the deduction may drop to the base amount. A big deduction lives or dies in your bookkeeping.

If you had energy-efficiency work on a commercial building started in the first half of 2026, do not let the records question ride until filing season. Gathering certified payroll and apprenticeship documentation after the fact is slow and sometimes impossible.

General information only, not tax advice. Eligibility depends on your facts and current IRS rules.

Catherine Accounting & Tax Services LLC is a Maryland-licensed firm helping contractors and service businesses with tax planning, bookkeeping, and payroll support.

Plan your year-end review: https://www.cattaxpro.com/contact.php

10/30/2026

Home health agencies: the Medicare enrollment freeze ends November 13. Here's what that means for you.

Since May, a nationwide moratorium has blocked new home health and hospice agencies from enrolling in Medicare. CMS says it stopped about 250 home health agencies and 50 hospices during that window.

On November 13, the freeze expires unless CMS extends it. And here's the catch: any extension must run a full six months. There's no in-between option.

CMS has mentioned tools like a "gold card" program that could exempt providers with strong compliance records. Nothing has been announced yet.

What should you be doing while the decision looms?

1️⃣ Planning growth? Keep your enrollment paperwork clean and current, so you're first in line if the freeze lifts or a golden exception appears.

2️⃣ Tighten your compliance file now. Strong records are your best protection whether or not the freeze extends.

3️⃣ Watch your cash flow carefully. An extended freeze means fewer new agencies competing for staff and referrals, but also slower industry growth overall.

We help home health agencies with bookkeeping, tax planning, and cash flow management year-round.

Need help getting your financial records ready? Reach out here: https://www.cattaxpro.com/contact.php

General information only; not individualized tax or compliance advice.

10/30/2026

Condo builders: the deposit you just collected is not taxable income this year. 💡

Under the One Big Beautiful Bill Act, the Section 460(e) exception to percentage-of-completion accounting was expanded to include condominium construction contracts entered into in tax years beginning after July 4, 2025.

What that means in plain terms:

✅ Contracts entered into in tax years beginning after July 4, 2025 may qualify
✅ Income, including buyer deposits collected during construction, is generally recognized when the contract is complete
✅ For calendar-year builders, that means contracts signed on or after January 1, 2026

If you build condos on the percentage-of-completion method, you may have been paying tax on deposits before the building was even finished. The rules changed. But nothing switches automatically.

Here is the part owners miss: changing methods generally involves accounting-method procedures, and Form 3115 may apply. Rev. Proc. 2026-32 provides automatic-change guidance for forms filed after September 4, 2026. Your contracts, current method, structure, and job-cost records all matter.

Waiting until filing season can mean overpaying on 2026 deposits for a year that is almost closed. 💰

Catherine Accounting & Tax Services LLC helps contractors and builders with tax planning, bookkeeping, and accounting-method reviews before year-end.

Request a review: https://www.cattaxpro.com/contact.php

General information only; not individualized tax advice. Eligibility depends on your contracts, method, and facts.

10/29/2026

Home health agencies: starting November 2, Medicare's audit results go public.

A new CMS directive (Change Request 14616) requires every Medicare Administrative Contractor to publish its Targeted Probe and Educate (TPE) results on its website each quarter, including at least the top three most common denial reasons for each prioritized topic.

Reviewers' patterns used to live in your own denial letters. Now they're posted where everyone can read them.

Why this matters for your agency:
1️⃣ You can see what reviewers are flagging before they ever review you
2️⃣ Posted denial trends show exactly where documentation breaks down
3️⃣ Fixing documentation now beats appealing denials later

Here's what to do:
✔️ Bookmark your MAC's website and check the quarterly TPE postings
✔️ Compare the posted denial reasons against your own documentation habits
✔️ Tighten records where the patterns point

Denials are rarely won at the appeal stage. They're prevented at the documentation stage.

Want a second set of eyes on your billing records and documentation? Reach out through our contact form: https://www.cattaxpro.com/contact.php

General information only; not individualized tax, billing, or compliance advice.

10/28/2026

Running payroll through a vendor? The vendor does the work. You still own the W-2.

2026 has been a turning point for payroll reporting. New rules under recent legislation made several payroll settings configuration-dependent, and vendors support the tool but the accuracy is on you as the employer.

The one getting the most attention: mandatory Roth catch-up treatment tied to prior-year F**A wages. If an employee's prior-year Social Security wages from you topped $150,000, their catch-up contributions must be routed as Roth. Your payroll system has to know that, using F**A wage data, not just plan documents.

If the setting is wrong, the error builds quietly all year and surfaces at W-2 season, when fixing it costs far more.

Three things to check before December:

1. Roth catch-up configuration: does your system flag employees over the $150,000 prior-year F**A wage threshold and route their catch-ups to Roth?
2. Overtime and tips reporting: recent law changes may affect what gets reported, and it depends on your setup.
3. A simple test run: pull a sample W-2 preview now and look for anything that does not match your records.

The deadlines matter too. W-2s are due to employees February 1, 2027, and late or incorrect filings carry per-form penalties that climb the longer you wait, up to $340 per form after August 1.

A quick year-end payroll proof-check now beats a correction filing in February. If you want a second set of eyes on your setup, we can walk through it with you.

Reach us here: https://www.cattaxpro.com/contact.php

General information only; not individualized tax or payroll advice.

10/27/2026

Home health agencies: Medicare payments just got smaller. Did your 2026 budget change too?

CMS finalized a 1.3% aggregate cut to Medicare home health payments for calendar year 2026. That's about $220 million industry-wide.

A 2.4% payment update sounds good, until you see the offsets behind it.

Here's what to keep straight:

1️⃣ The cut is a net number. It blends a payment increase with permanent and temporary adjustments, so your actual experience may look different than the headline.

2️⃣ Your agency isn't the average. Payment changes land differently depending on your patient mix, visit patterns and LUPA rates. Your numbers are what matter.

3️⃣ Reacting in January is too late. Rebuild your per-episode rates and cash flow projections now, while you still have time to adjust staffing, billing and spending plans.

Lower reimbursements don't have to mean lower margins. But they do mean your books have to be sharper.

We help home health agencies track episode-level profitability, tighten billing records and plan cash flow around real numbers, not guesses.

Request a Medicare payment-change checkup: https://www.cattaxpro.com/contact.php

General information only; not individualized tax or financial advice.

10/27/2026

One year, two mileage rates. If your 2026 records don't split them, your deduction is wrong. 🚗

The IRS raised the standard business mileage rate mid-year, and most owners missed it.

📌 January 1 - June 30, 2026: 72.5 cents per mile
📌 July 1 - December 31, 2026: 76 cents per mile (Announcement 2026-11, effective July 1)

This is not trivia. It changes your numbers in three places:

1️⃣ Your tax return. If you claim the standard rate, your 2026 mileage is two calculations, not one. One annual figure at a single rate does not match your actual miles.

2️⃣ Employee reimbursements. If you reimburse at the old 72.5-cent rate for miles driven after June 30, your team is being underpaid by 3.5 cents per mile. That adds up fast on mobile or field staff.

3️⃣ Your mileage log. Jobs and drives that straddle July 1 need miles split by rate period. A log that only tracks total miles cannot produce the right number.

The rate window closes in January. Once 2027 starts, this split is easy to lose and expensive to reconstruct.

If your books are not set up to split mileage by period, this is exactly the kind of cleanup our bookkeeping and tax planning services handle before year-end.

At Catherine Accounting & Tax Services LLC, we help contractors, service businesses, and self-employed professionals keep records that support the deduction, not just estimate it.

Book a year-end records checkup: https://www.cattaxpro.com/contact.php

General information only; not individualized tax advice.

10/26/2026

Contractors: that equipment order isn't a deduction yet. Here's why.

Thinking about a new truck, trailer, or machine before year-end? Good news first: for 2026, the Section 179 deduction limit is $2,560,000, and 100% bonus depreciation is now permanent for qualifying property.

But here's the part that trips people up: the deduction doesn't start when you order or even when you pay.

It starts when the equipment is placed in service.

That means delivered, installed if it needs it, and ready and available to use in your business by December 31, 2026.

Three things to keep straight:

1. It must be used more than 50% for business in the year you place it in service. Drop below that later, and you could face recapture.
2. Financing counts. Financed equipment can still qualify if your business is the tax owner and it's placed in service by year-end.
3. The clock is real. A machine sitting on a lot or a trailer in transit on December 31 is a 2027 deduction, not a 2026 one.

So if a purchase is on your list, the question isn't just "can we afford it". It's "will it be ready to use before December 31?"

And once you have the answer, make sure the purchase actually fits your year-end tax picture. That's where we come in.

At Catherine Accounting & Tax Services LLC, we help contractors and small business owners plan equipment purchases, depreciation, and estimated payments before the year closes, not scramble in April.

No accounting degree required on your end.

Book a year-end equipment and tax planning checkup: https://www.cattaxpro.com/contact.php

General information only; not individualized tax advice.

10/26/2026

The "no tax on overtime" deduction is real. But on a lot of payrolls, it won't show up. Here's why. 👇

For tax years 2025 through 2028, eligible workers can deduct qualified overtime pay from federal taxable income: up to $12,500 for single filers and $25,000 for married filing jointly. It starts phasing out above $150,000 of modified AGI single, or $300,000 joint.

Here's the part owners miss: the deduction only covers the overtime premium. That's the extra half above your regular rate, not every dollar paid at time and a half.

So the payroll has to separate it. If overtime is paid as one blended number, there's nothing to report, and your employees lose a deduction they may qualify for.

And starting with 2026, employers report qualified overtime compensation on Form W-2, box 12, code TT. The IRS has said the deduction generally depends on it being reported there. For contractors and construction crews running heavy overtime, that means the payroll setup done now decides what your people can claim in April.

Worth a look before year-end: is your payroll system splitting regular pay from the overtime premium, and are you tracking it by employee for the W-2?

We help contractors, construction and service businesses, and home health businesses with payroll support, bookkeeping and year-end tax planning.

Start here: https://www.cattaxpro.com/contact.php

General information only; not tax advice. Eligibility depends on your facts and current IRS rules.

Address

10001 Derekwood, Suite 205/135
Lanham, MD
20706

Opening Hours

Monday	9am - 6pm
Tuesday	9am - 6pm
Wednesday	9am - 6pm
Thursday	9am - 6pm
Friday	9am - 6pm

Website

http://cattaxpro.com/, https://beacons.ai/cattaxpro

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