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Page & Stubblefield CPAs

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Murray, KY
Page & Stubblefield CPAs

Tony Page started his practice in 1981 with an emphasis toward a more personalized approach tailored to meet each client's specific needs.

Over the years, Tony L Page, CPA has grown but the core values on which it was built remain the same.

11/03/2026

The gift tax annual exclusion is a simple way to transfer assets gift-tax-free. To qualify, a gift must be of a “present interest” — an unrestricted right to the immediate use of the property or the income from it. So a gift to a trust generally doesn’t qualify. But gifts to a trust with a “Crummey” provision can. After each gift to a Crummey trust, beneficiaries receive temporary withdrawal rights lasting at least 30 days. If they don’t withdraw the gift, the amount remains in the trust until distributed in the future according to the trust’s terms. Call us at (270) 753-8107 for details.

11/02/2026

If you disagree with an IRS decision, you may have more options than you realize. The Taxpayer Bill of Rights entitles taxpayers to a “fair and impartial administrative appeal” of most IRS decisions, including many penalties. The IRS Independent Office of Appeals is separate from the office that made the original determination and provides an impartial review of your case. You have the right to a written response explaining the Appeals decision. You may also have the right to take your case to court. Appeal deadlines can be strict, so act promptly. If you receive an IRS notice or disagree with a decision, call us at (270) 753-8107 to discuss your next steps.

10/30/2026

The IRS has released its 2026–2027 per diem rates for certain business travel expenses, effective Oct. 1, 2026. Under the high-low substantiation method, the rate for lodging, meals and incidental expenses for travel to high-cost localities within the continental United States (CONUS) rises to $329 per day, from $319. The rate for other CONUS localities rises to $230, from $225. The portion attributable to meals remains $86 for high-cost areas and $74 for other areas. The incidental-expenses-only rate remains $5. Employers can pay more than the IRS per diem rates, but excess amounts generally must be substantiated or treated as taxable wages. Contact us at (270) 753-8107 to learn about all your options for substantiating business travel expenses.

10/28/2026

If you ever wonder how your business’s financial results stack up against others in your industry, consider a benchmarking study. It can show you exactly where you stand. Contact us at (270) 753-8107 to get started. We’ll help you compare key financial metrics, highlight what you’re doing well and uncover areas that need attention. From there, we’ll help build a strategy to strengthen your financial footing and minimize risks in an ever-changing market. Let’s turn your financial statements into action plans!

10/27/2026

When employees change jobs, they often leave behind balances in a previous employer’s 401(k) plan. If your plan accepts rollovers, making it easier for eligible employees to move those balances into your plan can boost participation and engagement. Rollovers may also increase plan assets, which could help you negotiate lower plan services and fees. Meanwhile, providing departing and former employees with rollover instructions may reduce abandoned accounts and plan administration costs. Call us at (270) 753-8107 for guidance on managing your employer-sponsored retirement plan effectively.

10/26/2026

As your business grows, more people may need access to your accounting system. But when was the last time you reviewed the system’s user permissions? Outdated or excessive access can increase the risk of fraud, errors and unauthorized changes to your financial records. Year end is a good time to do some housekeeping. Confirm that employees and outside service providers have only the access they currently need. Pay special attention after employees change roles or leave your business, or when you switch vendors. We can help evaluate your accounting system’s security settings and strengthen internal controls. Call us at (270) 753-8107 to get started.

10/23/2026

Employers: The IRS recently updated its FAQs on the qualified overtime pay tax deduction for employees created in 2025. The guidance provides new details on how you must identify, calculate and report qualified overtime income. For example, it clarifies that only FLSA-mandated overtime premiums qualify, notifies employers that separate reporting on Forms W-2 is required beginning in 2026, and confirms that overtime pay remains subject to federal income tax withholding. These changes may call for payroll system updates and a closer review of employee classifications and overtime practices. Call us for help preparing for the new requirements.

10/21/2026

If your business offers employees a 401(k) plan, be sure to comply with all applicable regulations. Misunderstanding or inadvertently ignoring eligibility rules — for example, when workers must be allowed to start participating — can result in IRS penalties. It can also harm employees who are mistakenly excluded. Contact us at (270) 753-8107 with questions.

10/20/2026

Reconstructing business mileage records months after the fact can be frustrating — and unreliable. If you or your employees use personal vehicles for business, establish a system for logging trips as they occur. QuickBooks users can take advantage of mobile tools that automatically track trips and classify business vs. personal mileage. Other mileage apps or a well-maintained manual log can also work. As year end approaches, make sure your records include key details, such as mileage and business purpose. Timely, accurate documentation is essential for bookkeeping, employee reimbursements and tax reporting. Call us at (270) 753-8107 for help improving your mileage tracking process.

10/19/2026

If you own a life insurance policy and your estate exceeds the gift and estate tax exemption amount, a portion of its proceeds could be lost to estate tax. If you don’t own the policy, the proceeds won’t be included in your taxable estate. Using an irrevocable life insurance trust (ILIT) can keep life insurance policies out of your estate. An ILIT owns one or more policies on your life, and it manages and distributes policy proceeds according to your wishes. You aren’t allowed to retain any powers over the policy, such as the right to change the beneficiary. Contact us at (270) 753-8107 to discuss whether an ILIT might be appropriate for your situation.

Address

604A S 12th Street
Murray, KY
42071

Opening Hours

Monday	8am - 4:30pm
Tuesday	8am - 4:30pm
Wednesday	8am - 4:30pm
Thursday	8am - 4:30pm
Friday	8am - 12pm

Website

http://www.tonypagecpa.com/

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