Harris Accounting & Tax Services, LLC

08/24/2026

💵 Making Money on the Side? Don’t Forget About the Tax Aspect.

Side income is becoming more popular these days. You may drive DoorDash or Amazon, sell online, do construction or yard work, or just make some extra money doing something you enjoy.

Here are 5 things to keep in mind if you're earning money on the side:

1️⃣ No 1099 doesn't mean no taxes.
Income is generally still taxable even if you don't receive a tax form for it.

2️⃣ It's possible that nobody is withholding taxes for you.
Unlike a regular paycheck, taxes usually aren't automatically taken out of self-employment income. That can create an unexpected tax bill at the end of the year and can vary by tax household.

3️⃣ Self-employment tax can be the surprise.
If you're considered self-employed, you may owe self-employment tax in addition to regular income tax. This is one of the biggest surprises we see at tax time.

4️⃣ Keep track of your expenses.
Depending on what you do, legitimate business expenses may reduce your taxable profit. Don't wait until tax season to try to remember everything you spent throughout the year.

5️⃣ Set some money aside as you go.
If taxes aren't being withheld, consider setting aside a portion of each payment and, when appropriate, making estimated tax payments during the year. Maybe even set up a separate bank account just for tax purposes.

📅 Why talk about this in August?

Because there's still time to get organized, estimate where you stand, and make adjustments before the end of the year.

Making extra money can be a good thing. Getting surprised by the tax bill doesn't have to be part of it.

Harris Accounting & Tax Services LLC

08/14/2026

💵 You looked at your pay stub… now what?

Last week I mentioned checking your pay stub to see how much federal income tax is actually being withheld. But how do you know if it’s enough?

Here are a few things to think about:

👉 Did you owe taxes last year?
If nothing has changed with your withholding, there’s a decent chance you could be headed in the same direction again.

👉 Has your income increased this year?
A raise, bonus, overtime, second job, or additional income can change the picture.

👉 Are you married and both working?
This is a common place where withholding can get tricky. Each employer only sees the income they are paying you—not necessarily your household's entire tax situation.

👉 Do you have income with little or no tax withheld?
Side jobs, 1099 income, investments, rental income, retirement distributions and other income can create a tax bill even when your regular paycheck withholding looks okay.

👉 Don't assume a refund is automatic.
A tax refund isn't a bonus from the IRS. It's generally the result of paying in more during the year than you ultimately owed.

📅 Why check now?

Because it's August—not January.

If you're coming up short, you still have several months to adjust your withholding or make estimated payments instead of finding out when your tax return is prepared.

08/09/2026

💰5 Ways to Avoid a Tax Surprise Next Spring

We’re already in the back half of the year, which makes now a good time for a quick tax checkup. A few minutes now could help prevent an unpleasant surprise when it’s time to file.

1️⃣ Actually look at your pay stub.
Don’t just look at the amount deposited into your bank account. Check how much **federal and state income tax is actually being withheld**. You might be surprised how little is coming out.

2️⃣ Had a raise, bonus, or job change?
Changes in income can change your tax picture. Starting a new job, working two jobs, receiving a significant raise, or earning bonuses can all be good reasons to review your withholding.

3️⃣ Married couples: look at BOTH paychecks. When both spouses work, withholding can sometimes come up short—especially if each employer calculates withholding based only on that individual paycheck.

4️⃣ Don’t forget about income outside your regular job. Side work, self-employment, rental income, investment income, and other sources may not have taxes withheld at all. That income can add up quickly over the course of a year.

5️⃣ Compare this year to last year. Pull out last year’s tax return. Has your income changed? Did you owe last year? Did you receive a large refund? Have you had any major life changes? Your prior-year return can be a great starting point for spotting potential issues.

📌 The good news: It’s only August. If something looks off, there’s still time to make adjustments before year-end.

A little planning now can help make tax season a lot less surprising.

Harris Accounting & Tax Services LLC

07/30/2026

Taxpayers with a history of filing and paying on time may now have an easier path to receive penalty relief.

This summer, the IRS’ new Automatic Exemption from Penalty or AEP will replace the prior penalty abatement relief. AEP is designed to eliminate the need to contact the IRS to request relief,
because let’s be honest, they’re not gonna answer a call anyway.

IR-2026-83, July 8, 2026 — The Internal Revenue Service today announced a new automatic process to provide penalty relief for taxpayers with a history of filing and paying on time, reducing the need for them to request assistance.

07/15/2026

The IRS updated the standard mileage rates for 2026, featuring a mid-year increase due to rising fuel prices.

Starting July 1, 2026, through December 31, 2026, the rates are:

Business: 76 cents per mile (up from 72.5 cents per mile).
Moving: 23.5 cents per mile (up from 20.5 cents per mile).
Charity: 14 cents per mile (unchanged)

For the official details or view the full guidelines via IRS Notice 2026-10 and Announcement 2026-11.

Notice 2026-10 provides the optional 2026 standard mileage rates and the maximum fair market value of employer-provided automobiles first made available to employees for personal use in 2026.

07/04/2026

Happy 4th!! We celebrate our nation's 250th year of independence today. Its Semiquincentennial.

Most of us probably remember learning about how the British empire treated us like money printing machines by levying all sorts of taxes on us...until one day, it was too much for us to bear.

The event called the Boston Tea Party took the rally cry, "No Taxation Without Representation" to its boiling point and ignited the fire and passion of the colonists to eventually demand independence from the British empire.

By all measures and accounts, we weren't supposed to win against such a well-financed and well-trained opponent. With France becoming our ally shortly after the declaration of independence that July 4th, 1776, those scrappy, smart; strong, moral, and determined colonists accomplished the unthinkable.

Against all odds, by fighting the mighty British armed forces focused with one goal in mind---gaining independence for their "Thirteen United States of America"---those underdog colonies defeated the British empire!

As you celebrate this weekend--remember that 250 years ago, this nation was born because those New Englanders believed
"...that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government..." and their current government did not.

Happy Independence Day, America---250 is looking great on us. Let's pray our country's next big birthday looks even better!

Here's a short article glossing over the highlights of how our country became the United States of America:

https://www.history.com/articles/american-revolution-history

01/10/2026

Tax Season set to begin Jan 26, 2026.

The 2026 tax season starts on Jan. 26, according to the IRS. Here are some key things filers need to know.

01/09/2026

https://taxfoundation.org/blog/tax-refunds-one-big-beautiful-bill-act/?fbclid=IwdGRleAPMujdleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEefygE4BzSfrL4zUJSkOZBnwWeyo3MpEub7x0IcuLYCQUNYG7ZtWtg5VhaVc8_aem_CPoln9vfHsa5c6ljuqoj_w

When taxpayers file their 2025 tax returns in 2026, many will see larger refunds than in recent years. That’s due to the One Big Beautiful Bill Act (OBBBA), which reduced individual income taxes for 2025 by an estimated $144 billion.

07/07/2025

More info I wanted to pass along about the new tax bill. Several clients have asked me about the 100% depreciation coming back. It is included in the new bill and is actually permanent going forward. As info, the concept is to allow businesses a full expense for an asset purchased after 1/19/25 in order to stimulate spending in the economy. The asset doesn’t necessarily have to be depreciated over its useful life.