Lembo Accounting Solutions

09/04/2026

🚨 SOUTH CAROLINA TAXES JUST CHANGED FOR 2026 — and income matters!

SC has a NEW state income tax system beginning in 2026, including a new South Carolina Income Adjusted Deduction (SCIAD).

Here’s the easy version 👇

💰 NEW SC DEDUCTION

👤 Single / MFS: $15,000
👨‍👩‍👧 MFJ: $30,000
🏠 Head of Household: $22,500

BUT…these deductions phase out as your income increases. 👀

📉 PHASE-OUT RANGES (Federal AGI)

👤 Single / MFS
Starts: $40,000
Gone at: $95,000

🏠 Head of Household
Starts: $60,000
Gone at: $142,500

👨‍👩‍👧 Married Filing Jointly
Starts: $80,000
Gone at: $190,000

And there’s another BIG change:

🌴 SC now has TWO income tax rates

➡️ Under $30,000 of SC taxable income: 1.99%
➡️ $30,000+: 5.21% (with a $966 adjustment)

⚠️ South Carolina also decoupled from the federal standard AND itemized deductions.

Translation: Your 2026 South Carolina tax return is going to look VERY different!

If your income falls inside one of those phase-out ranges, tax planning just became a little more important.

Welcome to SC taxes in 2026! 🌴🧾

— Linnea Lembo, CPA

General tax information only. Individual tax situations vary.

09/04/2026

🎓 529 PLANS: THEY’RE NOT JUST FOR COLLEGE!

The rules have expanded for 2026. Here’s the quick version 👇

🏫 K–12 — UP TO $20,000/YEAR

529 funds can be used for qualifying:

✅ Tuition
✅ Books & instructional materials
✅ Curriculum & online learning
✅ Certain tutoring & educational classes
✅ Certain testing & dual-enrollment fees

🚨 Boarding school?
Academic tuition may qualify — but room & board does NOT.

🎓 COLLEGE — MUCH MORE IS COVERED

529 funds can generally pay for:

✅ Tuition & required fees
✅ Books & supplies
✅ Computers, software & internet
✅ Room & board for eligible students
✅ Certain expenses for special-needs services

💡 THE BIG DIFFERENCE

🏫 K–12 → $20,000 annual limit + NO room & board

🎓 College → No $20,000 K–12 cap + room & board can qualify

Have a 529? It may be worth looking at it as more than just a college savings account.

📌 Save this post for back-to-school planning!

General tax information only. Qualified-expense rules and limitations apply.

09/03/2026

📣 Charitable Giving Has New Tax Rules for 2026!

If you donate to charity, there are two important changes to know this year:

1️⃣ New 0.5% floor for itemized charitable deductions

If you itemize deductions, your charitable contributions are now deductible only to the extent they exceed 0.5% of your Adjusted Gross Income (AGI).

👉 Example:
AGI = $100,000
0.5% = $500

If you donate $2,000, the first $500 does not generate an itemized charitable deduction. Your deductible amount would generally start with the remaining $1,500.

2️⃣ Don’t itemize? You may still get a charitable deduction! 🎉

Beginning in 2026, taxpayers who take the standard deduction can deduct qualifying cash contributions to eligible charities:

💰 Single filers: Up to $1,000
💰 Married Filing Jointly: Up to $2,000

This is an above-the-line deduction, so you don’t have to itemize to benefit.

⚠️ Remember: Keep documentation for your donations, and not every type of charitable contribution qualifies for the non-itemizer deduction.

Tax planning isn’t just about what you earn—it’s also about understanding which deductions are actually available to you.

Lembo Accounting Solutions, CPA

07/28/2026

Tax Free Weekend starts August 7

South Carolina's Tax Free Weekend is almost here! This year, the event will run from August 7 through August 9.

Why it matters: During this weekend, retailers cannot charge state or local Sales Tax on school supplies, computers, clothing, and other essentials.

All purchases of eligible items are tax exempt, including:
• In-store and online sales
• New and used items

Businesses should plan ahead! Our Retailer Toolkit can help you:

• Determine if you sell tax-exempt items
• Promote your store during Tax Free Weekend
• Prepare to report your sales on your August tax return
• Learn how to handle returns, exchanges, and rain checks

07/25/2026

Now Accepting One New Business Client for August

At Lembo Accounting Solutions, we believe business owners deserve more than someone who simply prepares a tax return once a year.

Our ideal client relationship includes:

📊 Monthly Bookkeeping
📑 Business Tax Preparation
👤 Personal Tax Preparation

When these three services work together, we're able to provide proactive advice throughout the year—not just at tax time. Clean books lead to better financial decisions, fewer surprises, and more effective tax planning.

If you're a business owner who's ready for a CPA who takes the time to understand your business and values year-round communication, we'd love to connect.

Or, if you know a business owner who is looking for a trusted bookkeeping and tax partner, we'd be grateful if you shared this post or made an introduction.

📍Based in Mount Pleasant, South Carolina
💻 Serving clients remotely throughout the United States

At Lembo Accounting Solutions, we're boutique by design—providing personalized service, responsive communication, and a long-term partnership that helps businesses grow with confidence.

📩 Send us a message to schedule a conversation and see if we're the right fit for your business.

07/20/2026

🚨 Has your accountant disappeared? 👻

If your 2025 tax return was extended and you've been waiting... and waiting... with no communication, you're not alone.

Unfortunately, every year we hear from individuals and business owners who:
• Can't get a return phone call or email.
• Have no idea where their tax return stands.
• Are worried they'll miss the extension deadline.
• Feel completely in the dark.

You still have options.

At Lembo Accounting Solutions, we're currently accepting a limited number of new tax clients who need help getting their extended 2025 returns completed before the filing deadline.

Whether your current accountant has become unresponsive or you're simply ready for a better experience, we're here to help.

✅ Prompt communication
✅ Secure online document portal
✅ Clear expectations and timelines
✅ Experienced tax preparation for individuals and businesses

Don't wait until the last minute and hope your return gets finished.

📞 Reach out today to schedule a consultation and let's make sure your 2025 tax return is completed accurately and on time.

07/13/2026

07/10/2026

💰 Don't Lose Your 2023 Tax Refund!

If you haven't filed your 2023 federal tax return and you're expecting a refund, don't wait too long! The IRS only allows three years to claim a refund.

📅 Deadline to file and claim your 2023 refund: April 15, 2027.

After that date, any unclaimed refund is generally forfeited.

If you're behind on filing or aren't sure whether you're due a refund, we'd be happy to help. Reach out to Lembo Accounting Solutions and let's make sure you don't leave your money with the IRS!

Send a message to learn more

07/09/2026

🚨 A Friendly Reminder for Business Owners

Every year, I read Tax Court cases that remind me just how expensive “creative accounting” can become.

Recently, the U.S. Tax Court upheld significant tax deficiencies and penalties after finding that a business owner claimed personal expenses as business deductions and failed to properly report income. The end result? Years of audits, substantial taxes owed, penalties, and a lot of unnecessary stress.

At Lembo Accounting Solutions, our goal isn’t to find deductions at any cost—it’s to help you claim every deduction you’re legally entitled to while keeping your business compliant and audit-ready.

We know it can be tempting to write off expenses that “feel business-related,” but that’s exactly where many business owners get into trouble. We’d much rather have an honest conversation today than help you explain questionable deductions to the IRS years from now.

✅ We focus on accurate bookkeeping.
✅ We help you document deductions properly.
✅ We provide practical tax planning—not risky tax strategies.
✅ We care about protecting both your business and your peace of mind.

If you’ve ever wondered, “Can I deduct this?”—ask us first. That’s what we’re here for.

Your business deserves solid accounting, sound tax advice, and a CPA who puts compliance first.

Court case referenced above:

Comprehensive analysis of US Tax Court cases, federal tax court decisions, and state tax opinions.

07/08/2026

📊 Mid-Year Check-In with Your Neighborhood CPA

We're halfway through the year, which makes this the perfect time to make sure there are no surprises waiting for you next tax season.

Here are a few things every South Carolina individual and business owner should be thinking about:

✅ South Carolina Tax Law Changes
Tax laws continue to evolve. Have you adjusted your payroll withholding or estimated tax payments to account for recent changes? A quick review now can help avoid an unexpected balance due later.

✅ Estimated Tax Payments
If you're self-employed, own an S corporation, partnership, or receive income without tax withholding, are you making your quarterly estimated tax payments? Missing or underpaying estimates can result in penalties and interest.

✅ Business Owners
Has your business changed this year? Maybe you've hired employees, purchased equipment, increased your income, or experienced slower sales. Mid-year is a great time to evaluate whether your tax strategy still fits your business.

✅ Life Changes Matter Too
Marriage, divorce, a new baby, retirement, buying or selling a home, or changes in investment income can all affect your tax situation.

A mid-year tax checkup is much easier—and often much less expensive—than trying to fix surprises after year-end.

If you're wondering whether you're on track, we'd be happy to review your situation and help you plan ahead.

📍 Lembo Accounting Solutions

Your neighborhood CPA serving individuals and small businesses throughout the Charleston area.