Lahrmer & Company LLC

05/21/2026

Did you get a big tax refund, or a surprise bill, this year? That’s a sign it may be time to adjust your withholding.

A quick review now can help you avoid overpaying or facing penalties next April.

A big tax refund or unexpected bill can reveal more than just last year’s numbers, it can help you fine-tune your withholding for the year ahead. Reviewing your 2026 withholding now can help you av…

05/14/2026

Hiring a child in a family business can create meaningful tax savings when done correctly. Wage deductions and certain payroll tax exemptions may apply under specific conditions. Do the rules support your summer hiring plans?

Hiring a child to work in a family business can offer legitimate tax advantages when handled properly. Wages are generally deductible and, in certain cases, payroll tax exemptions may apply. Unders…

05/12/2026

An inheritance may come with tax consequences that are easy to overlook. From stepped-up basis rules to income generated after inheritance, the details matter more than many people expect. Planning ahead can help protect the value of what you receive.

An inheritance can bring meaningful financial opportunity, but it can also raise important tax questions. Understanding how inherited assets are taxed may help you avoid surprises and plan more eff…

05/07/2026

Clearing out old tax files can feel productive, but shredding the wrong documents can create problems down the road. Certain records may need to be kept longer than you expect, especially when audits, refunds or future transactions are involved. A little caution now can save time and stress later.

Tax records can pile up quickly, but discarding documents too soon can create problems later. Knowing how long to keep tax records helps protect you if questions arise years after a return is filed…

05/05/2026

Selling investment or commercial real estate can create a sizable tax bill if the timing and structure are overlooked. An installment sale may help spread gain over multiple years and manage exposure to higher tax rates. The right approach depends on income, risk tolerance and long-term goals.

Selling investment or commercial real estate can trigger significant tax consequences, but careful planning may help manage the impact. An installment sale allows sellers to spread gain over time, …

04/28/2026

Choosing between traditional and Roth retirement contributions isn’t just about taxes today. It’s also about how future income and tax rates may affect withdrawals down the road. Understanding how Roth accounts fit into a broader retirement strategy can add long‑term flexibility.

Roth accounts offer a different approach to retirement savings by shifting when taxes are paid. Combining pre‑tax and after‑tax retirement contributions can provide flexibility and help manage tax …

04/21/2026

The IRS has raised the standard mileage rate for business driving in 2026, changing how many taxpayers calculate vehicle deductions. Choosing between the mileage rate and actual expenses can affect overall tax results. Knowing how the rules work helps ensure deductions are handled correctly.

The IRS has increased the standard mileage rate for business driving in 2026, affecting how vehicle expenses are calculated for tax purposes. Understanding the available deduction methods and docum…

04/16/2026

College scholarships often feel tax‑free, but that isn’t always the case. How an award is used and whether it involves required services can change how it’s taxed. Knowing where the lines are can help prevent surprises at tax time.

Scholarships can help offset the cost of college, but not all awards are treated the same for tax purposes. Understanding which scholarship amounts are taxable and how they must be reported can hel…

04/14/2026

Many small businesses want to grow, but growth can strain cash flow, operations and staffing when it moves too fast. Common missteps often appear at the same stages of expansion. Knowing where businesses tend to struggle can help growth stay sustainable.

Growth can create opportunity, but it can also expose weaknesses in cash flow, staffing and operations. Understanding common growth mistakes can help small businesses expand more deliberately and a…

04/14/2026

Thank you all once again for your trust in the Lahrmer team! We are going to take a much needed couple days off and the office will be closing at noon on the April 15th and completely closed on the 16th.