Nickels & Dimes Bookkeeping and Tax Service

01/10/2026

The IRS will begin accepting e-filed tax returns on Monday, January 26, 2025.

01/10/2026

If you have a vehicle used for business you will need the ending mileage as of 12-31-2025 when preparing your tax return.

01/10/2026

If you own a business with inventory you will need your cost of the product you still had on hand 12-31-2025 when preparing your tax return. (Ending inventory)

01/10/2026

It's time to prepare 1099s. If you paid someone contract labor or rent over $600 you need to send them a 1099 no later than January 31. If you need help give us a call. 660-265-3090.

12/19/2025

Clarification on the non taxability of social security benefits starting in 2025:

Social security is taxable at the same rate as before. But there is a new senior deduction for 2025 of $6000.00 per senior (aged 65 or older) which is added to the standard deduction before figuring income tax. Essentially if $10,000.00 of your social security is taxable only $4000.00 of it will actually be taxable after the new senior deduction of $6000.00.

There are income limits for this $6000.00 senior deduction. Phaseout of the $6000.00 deduction begins for singles when modified adjusted gross income exceeds $75,000 and for married filing jointly when modified adjusted gross income exceeds $150,000.00.

Not confusing at all.

10/22/2025

If you haven't done so it is to everyone's advantage to set up an individual online IRS account through ID.ME.

https://www.irs.gov/payments/online-account-for-individuals

It takes maybe 10 minutes and is a very handy and quick way to find information about your account with the IRS without having to wait on the phone for an hour. Also, with the government shut down you can still access your IRS account information online.

With an online account you can see what you owe, get your IPPIN, see all letters and correspondence that has been sent to you from the IRS, set up a payment plan with the IRS and so much more.

Online account access
Using your IRS Online Account, you can access the following:
Tax Return Transcript: Shows most line items from your original tax return. It is available for the current year and the three previous tax years.
Tax Account Transcript: Provides basic tax return data, including your marital status, adjusted gross income, and payment history. It is available for the current year and up to nine prior tax years.
Wage and Income Transcript: Shows information the IRS receives from your employers and other payers, such as Forms W-2 and 1099. It is available for the current year and up to nine prior tax years.
Payment History: Allows you to view up to 5 years of your payment history, including estimated tax payments.

If you haven't done so already, take the time to set up your online account today.

Sign in or create an online account. Review the amount you owe, balance for each tax year, payment history, tax records and more.

09/25/2025

SALES TAX INCREASES OCTOBER 1. All businesses need to make sure you are charging the correct amount for sales tax beginning October 1, 2025. For Goods and Services - Rural Sullivan County will be 7.475%, Milan will be 8.475%, Green City will be 8.975%, Green Castle will be 7.975% Browning will be 9.475%. For Food sales the rates will be Rural Sullivan County 4.475%, Milan 5.475%, Green City 5.975%, Green Castle 4.975%, Browning 6.475%