Randall Tax Service

Randall Tax Service Income Tax Preparation, Bookkeeping/Accounting and Payroll Services Accounting services are being offered to businesses

Care will be taken to maximize income tax returns and reduce income tax due using applicable deductions and credits.

04/21/2026

The Child Tax Credit helps families get a tax break. You may be able to claim the credit even if you don't normally file a tax return. Use the Interactive Tax Assistant to check whether your child qualifies: https://ow.ly/sKPE50YGJuw

Tomorrow is the day! The first personal income tax filing deadline of the year. If you are my client and have not had yo...
04/14/2026

Tomorrow is the day! The first personal income tax filing deadline of the year. If you are my client and have not had your income tax return prepared and e-filed, please contact my office and request an extension. Just a reminder this is only an extension of time to file. Any balance due should be paid tomorrow to avoid interest and penalty.

Married filing separate should be the go to status for couples not willing to file a joint income tax return. Oftentimes...
02/20/2026

Married filing separate should be the go to status for couples not willing to file a joint income tax return. Oftentimes it’s not, for many reasons.

One being, one of the spouses may have what IRS calls an Offset. Offsets can result from a taxpayer having child support arrears or other federal debt that will result in a reduction of any refund.

Another being that the spouse has a history of owing income tax at tax time. This one I see often as a result of taxpayer not having adequate tax withholding throughout the tax year on a paycheck or retirement income.

Side note: did you know there is a penalty assessed if not enough tax is paid in at a certain point in the year?

The bottom line is married filing separate isn’t all bad. If it’s just the two with no dependents and they are high earners with no itemized deductions then the standard deduction is split down the middle.

If the taxpayers file separate returns and one spouse itemizes deductions and the other spouse has very little itemized deductions, then the other spouse will suffer with a higher taxable income.

This year qualifying seniors get to deduct up to $6,000 in what’s called the Enhanced Deduction for Seniors. One of the qualifiers is if married that status is married filing jointly. So depending on MAGI, married filing separate taxpayers would have up to $6,000 more of taxable income they could otherwise eliminate by filing jointly.

Gwendolyn J. Randall
Entrepreneur/Accountant/Tax Preparer

I received a message from a client with questions regarding labor laws concerning employees and breaks. Specifically whe...
02/13/2026

I received a message from a client with questions regarding labor laws concerning employees and breaks. Specifically whether it was required that employees receive a break after 4 hours of work.

Did you know that Federal Labor Laws and Georgia Labor Laws DO NOT require employers to provide employees with meal and rest breaks? There is an exception is for employees age 14-15.

Federal Law says if an employer does provide meal and or rest breaks, the meal break must be at least 30 minutes and is unpaid. The rest break is up to 20 minutes and is paid.

The state of Georgia is one of many states that adheres closely to federal standards concerning breaks. With some exceptions, if an employee performs any job duty during an off-duty break of 30 minutes or more, the employer is required to compensate the employee for the entire off-duty meal break.

As an employer, having a well written policy on breaks, whether meal and/or rest breaks. Doing so lays out just what the employee can expect and creates efficiency in the workplace.

Gwendolyn J. Randall
Entrepreneur/Accountant/Payroll Admin/Tax Preparers

Parents of college students remember to include all 1098T forms with your tax documents when having your tax returns pre...
02/12/2026

Parents of college students remember to include all 1098T forms with your tax documents when having your tax returns prepared. I am the parent of a college student so I’m talking to myself as well.

Parents you may be able to claim the American Opportunity credit on your tax return if your student is within the first four years of college. The maximum credit is $2500 with up to $1000 refundable. Refundable even if your tax liability is zero.

Eligibility includes being a degree candidate, being enrolled at least half time, in first four years of college, and have received a 1098T from the school. And answer NO to question whether student was convicted of a felony for possession or distribution of controlled substance.

Married filing joint filers the credit phases out between modified adjusted gross income between $160k-$180k. Single filers credit phases out between $80k-$90k.

Gwendolyn J. Randall
Entrepreneur/Accountant/Tax Preparer/Payroll Admin

I e-filed a tax return today where the taxpayer was able to claim the new senior tax deduction. Are you 65 or older? If...
02/10/2026

I e-filed a tax return today where the taxpayer was able to claim the new senior tax deduction. Are you 65 or older? If so, you may be eligible for a senior tax deduction.

Beginning in this 2026 filing season, as much as $6000 is added to your standard deduction. It doesn’t matter if you itemize your deductions or take the standard deduction, you can still claim the $6,000.

As with many credits and deductions, this one does begin to phase out with modified adjusted gross income of $75,000 for single, and $150,000 for married filing joint filers. With a complete phase out for single filers with modified adjusted gross income over $175,000 and $250,000 for joint filers.

Married filers must file a joint tax return in order to be eligible to receive the senior tax deduction.

Gwendolyn J. Randall
Entrepreneur/Accountant/Tax Preparer

In an earlier post, I mentioned the importance of the Form W9. A W9 is a request for taxpayer identification. It’s as ac...
02/08/2026

In an earlier post, I mentioned the importance of the Form W9. A W9 is a request for taxpayer identification. It’s as accurate as it gets when completed by the contractor.

Individuals operating as sole proprietors and single member LLC complete this form and include their identifying information to include social security number or EIN if they have applied for and received one from IRS.

Form W9 is the precursor to filing a form 1099 for payments to contractors who provide a service to the business. Form 1099 has numerous extensions. NEC is for non-employee compensation paid.

There are other extensions to report other things. The MISC reports a multitude of payments types to include rent. Credit card companies issue 1099K detailing any merchant transactions.

The form 1099 is really just for information purposes. As a contractor, whether you receive one or not, IRS hopes in good faith as a business owner you are reporting income received. Bottom line, it’s always best practice for businesses to request a W9 prior to initial payment for service received.

Gwendolyn J. Randall
Entrepreneur/Accountant

What my day looked like today…Started the day as payroll support for a client who is her own payroll admin, inquiring on...
02/07/2026

What my day looked like today…

Started the day as payroll support for a client who is her own payroll admin, inquiring on steps to completing payroll if she missed the cutoff from yesterday.

Finalized two 1040 tax returns that were completed and needed to be signed off on first thing this morning.

Finalized a 2024 amended 1120S corporate tax return. And sent copies to client along with Schedule K1 for all shareholders.

Categorized bank transactions in QuickBooks Online for one of my clients for whom I am full-charge.

Started and finished two more 1040 tax returns and sent to clients to be signed off on this afternoon.

Reviewed the completed Workforce profile for a newly onboarded employee for a payroll client.

Prepped and e-filed 1099s for just two of my monthly bookkeeping clients. They were a bit later than I’d like, but occasionally securing W9s on independent contractors can be a task. THIS is why it’s extremely important, business owners, to get a W9 before writing that first check to an individual that is providing a service.

Prepped and sent an organizer to a second year tax client. So excited they are returning 🙌🏽. Who am I kidding, I’m just as excited and grateful to see my day ones too.

Categorized bank transactions in QuickBooks Online for another full-charge client.

Canceled QuickBooks Online subscription on a tax client who operates as a sole proprietor. When asked why, the response was it’s too complicated. I completely understand QBO is not for everyone. It can be though.

Finally I closed the business day gathering deliverables for a nonprofit that is in the process of obtaining 501c3 status.

Gwendolyn J. Randall
Entrepreneur/Accountant/Payroll Admin/Tax Preparer

Corporate filers should be preparing to have their corporate income tax returns filed by the March 15th filing deadline....
02/06/2026

Corporate filers should be preparing to have their corporate income tax returns filed by the March 15th filing deadline.

If your business is an LLC partnership, Form 1065 should be filed with Schedule K1 being issued to all partners for reporting of business net income on their personal 1040 tax returns.

If the business is a corporation, the traditional C Corp, with no flow through to the personal tax return, would be filing Form 1120 by the filing deadline.

If the business is an S Corp, a Form 1120S is to be filed with Schedule K1 being issued to shareholder(s).

This filing deadline is for businesses with a calendar year close, December 31, 2025. Contact us today for assistance with closing your books in preparation for filing your 2025 corporate income tax return.

Gwendolyn Randall
Entrepreneur/Accountant/Tax Preparer

So before today, never had I ever used ChatGPT. And my use of this AI tool will continue to be little to none. Because t...
02/05/2026

So before today, never had I ever used ChatGPT. And my use of this AI tool will continue to be little to none. Because there are aspects surrounding it that I don’t favor.

I started building my team one year ago in January. And the most challenging part is the training aspect. Having been a solo entrepreneur for the last 14 years, I was always the only one doing what I do for my business.

Why did I use ChatGPT today?

In the past working as a corporate accountant, I created from scratch, Standard Operating Procedures (SOP) using knowledge gained through experience in my career and position. But today I was given a tip that I could use ChatGPT to create my business SOP.

Actually I was a little blown away at how accurate the SOP was. But most importantly, I was able to utilize this AI tool to create a means of training that takes little away from my daily productivity.

Gwendolyn J. Randall
Entrepreneur and Accountant

Since the introduction of Marketplace insurance, tax preparers are responsible for reporting government subsidies onto t...
01/31/2026

Since the introduction of Marketplace insurance, tax preparers are responsible for reporting government subsidies onto taxpayers tax returns using Form 8962.

This form is used to reconcile premium tax credit (PTC) to the advanced payment of premium tax credit (APTC). The premium tax credit is for people enrolled in qualified health plans. It’s financial assistance used to help pay premiums by reducing tax liability or through tax refund.

The amount of the APTC is estimated by Marketplace using a projection of the tax payers income. The government makes an advance payment of the premium tax credit. It’s extremely important to give Marketplace the income that is as close to accurate as possible. Or there is a risk of increase in tax liability or reduced income tax refund.

At tax time, the Marketplace issues taxpayer a 1095A. It MUST be reported on the tax return or the tax return will be REJECTED.

In the example described in the image, taxpayers with family members that are on another taxpayer’s Marketplace insurance policy. Both taxpayers MUST report the 1095A on both their tax returns with an agreed upon allocation split.

Gwendolyn J. Randall
Randall Tax Services LLC
Owner and Tax Preparer

https://www.irs.gov/pub/irs-pdf/i8962.pdf

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Ludowici, GA
31316

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