Tyler Fielder CPA

04/02/2026

We still have a few weeks left before tax season is wrapped up!

If you’re just now getting around to gathering your documents, no worries. Feel free to reach out and schedule a call so we can walk through next steps.

As a reminder, filing an extension will extend your filing deadline to October 15th, which means no failure‑to‑file penalties.
Please note: any taxes owed are still due by April 15th, even if an extension is filed.
If you need help or are just looking for more information, feel free to message, email, or call!

02/10/2026

As everyone slowly starts thinking about digging through their mail for tax documents (no judgment here!), here are a few key updates to know for the 2025 tax season:

📌 Overtime Pay Deduction (2025)
This new deduction applies only to the overtime premium—the “time‑and‑a‑half” portion.
Example: If your regular rate is $20/hour, the overtime premium is the extra $10/hour.
There’s no standard reporting method yet, so:

Some employers may show this on your W‑2
Others may not, meaning we’ll calculate it from your paystubs

📌 New Car Loan Interest Deduction
If you bought a car in 2025 and financed it, the loan interest may be deductible if the vehicle was assembled in the U.S.
Quick VIN check:

If the VIN starts with 1, 4, or 5, it’s typically U.S.-assembled and likely qualifies.

📌 Tips Deduction
If you earned tips in 2025, these are generally reported on your W‑2.
If your employer didn’t report them or you have additional tips, we can address that during filing.

📌 “Trump Accounts” for 2025+ Newborns
For children born in 2025 and later, you can create a government‑funded account when filing your tax return.

The government deposits $1,000
Works similarly to a 529 plan (no traditional tax benefits)
Set up using Form 4547

📌 SALT Cap Increased to $40,000
The State and Local Tax (SALT) deduction cap has increased from $10,000 to $40,000 for 2025 — a huge change that may make itemizing worthwhile for some taxpayers.

📌 Child Tax Credit Increased
The Child Tax Credit has increased to $2,200 per qualifying child for 2025

📌 Important: Refunds May Be Delayed
The IRS has had major staffing cuts and is dealing with a high volume of returns involving new 2025 deductions, which means refunds may take longer than usual.
To help reduce delays:

File electronically, and use direct deposit, which the IRS is strongly pushing and is transitioning toward as the required refund method moving forward.

Paper checks will be significantly slower — sometimes by several weeks.

Send a message to learn more

01/23/2026

I’m honored to be named a 2025 Oklahoma NextGen 30 Under 30 winner. I was a little hesitant at first, but being surrounded by so many driven, talented people from across our state made it an incredible experience.
Oklahoma is growing fast and gaining national attention—from major development projects to hosting medal events for the 2028 Olympics. This recognition reflects the work I’ve put into my career and, just as importantly, how much I genuinely enjoy what I do.
Grateful for the opportunity and excited for what’s ahead.

01/01/2026

Now that it is the first, tax season is right around the corner! Some of the most important changes for the new year:

The SALT cap was increased to 40K (previously 10K) meaning those who pay more than 10,000 in state income tax and property tax can now deduct up to that 40,000 number.

You can now deduct a portion of your overtime and tips income.

Seniors also get an additional 6k deduction on their returns.

For businesses, the return of 100% bonus as well as the continuation of the QBI deduction.

If you have any questions or are looking for someone to help you out feel free to reach out!

08/09/2025

IRS Update:
Billy Long has resigned as commissioner of the IRS. He was confirmed and sworn in in June, and resigned in early August, making him the shortest-tenured Senate-confirmed IRS commissioner in U.S. history. Long was the sixth IRS commissioner since Trump took office this January, the most of any president in a single term. Historically, commissioners have served five-year terms, even across administrations. This is noteworthy as Long was Trump's handpicked appointee.

Trump has repeatedly stated he wants to replace the IRS with an “External Revenue Service” funded by tariffs on imported goods. While a lofty goal, the IRS historically collects about 96% of all federal revenue, bringing in $4.7 trillion in 2023. By comparison, tariffs in 2025 are projected to bring in $300–$500 billion — at best, about 10% of the IRS’s annual collections.

For taxpayers, this turnover and staffing reduction means longer call wait times, delayed responses to letters, and less experienced agents handling cases. If you have time-sensitive IRS matters, start early, keep records, and prepare for slower processing as the agency weathers ongoing leadership changes.

Send a message to learn more

07/20/2025

Hello All,

As we pass the mid point of the year and Q2 is in the rear view mirror, now is a great time to start thinking about tax planning. As you most likely know, on July 4th 2025 the Trump administration signed into law the "One Big Beautiful Bill Act". Within this act there are many temporary and permanent tax changes that will have material affects on taxpayers for 2025 and on. Below you will find a quick summary of some of the major changes, as well as a few insights as to what this could mean for some taxpayers.

Please keep in mind this post is purely informational for tax purposes and does not reflect in any way a political opinion on the provisions of the bill outside of tax.

Individual Changes:

Standard Deduction
Married Filing Joint increased to $31,500
Head of Households Increased to $23,625
Single increased to $15,750
Seniors (65 and up) receive an additional 6,000 Deduction

Salt Cap Deduction Increased to $40,000 through 2029 (will revert back to $10,000 in 2030). This is one of the largest changes that will affect many higher income earning taxpayers.

The child Tax credit was permanently increased to $2,200 per child while adding some provisions on working/income requirements. A $1,000 dollar "Trump Account" (similar to a 529 plan) will also be given to children born in tax year 2025-2028.

Charitable deductions will once again be allowed similar to covid years (2020-2021) of 2,000 dollars for married filing joint and $1,000 for Single filers.

New Changes (There is little insight from the IRS on how these will be claimed on the 2025 forms as of now)
No tax on tips for first $25,000 in tips. Must be a "regular tip earner".
Overtime Premium (The extra half pay in "Time and a half") will be deductible up to $25,000 through 2028.
Car interest will also be deductible if the car is "assembled in America". This is one of the more vague additions, but it is assumed VIN will be used.

You can also contribute up to $5,000 annually to your child(s) "Trump Accounts" However, i would recommend consulting with a financial advisor before doing so as a 529 plan can offer additional tax savings with the same investment options available.

For Businesses:
100% Bonus Depreciation and increased 179 deductions were made permanent.
The 20% QBI Deduction was made permanent.

Biggest Takeaways:
This bill will mostly help small and large business owners that are capital intensive as the Bonus Depreciation and QBI extensions will lower taxes for them. The increased child tax credit, Standard Deduction, and tip/overtime deduction will also decrease taxes for many middle class workers.

These tax breaks are set to drastically increase the deficit for not only federal but also individual States, which may lead to states passing higher tax rates or decoupling from federal law (such as not allowing state bonus).

Most of these provisions were written into place to be "temporary" through Trump's term, meaning any administration to follow in 2029 will revert to the previous tax laws.

Keep in mind this bill is absolutely MASSSIVE, and all of the information and regulations on how these laws will be implemented have not been released yet. As you look to plan for the rest of 2025, feel free to comment below with any questions you may have, or reach out to me to see if i can help.

Thanks!

Tyler

Send a message to learn more

04/19/2025

Need to plan for 2025? File 2024 and fell behind? Looking for someone to do monthly bookkeeping? Start a side hustle and need to talk it through? Now is the perfect time to start planning. Reach out and we can talk through your scenario to get an idea on what services could look like for you. Self employed business owners can save thousands through tax savings, accurate bookeeping, and financial planning.

04/10/2025

Six days left until the April 15th deadline! Extensions and returns can still be filed, reach out if you are still needing your taxes done, or are wanting to plan ahead for the 2025 tax year.

01/24/2025

Personal tax return filings open Monday, January 27th. Please note that while the IRS trains a seasonal force to assist in the busy season leading to April 15th, return processing time still may be decreased due to recent changes within the federal workforce.

If you claim either the Child Tax Credit, the Earned Income Tax Credit, or the Premium Tax Credit, refunds can not be sent until the week of February 22nd and could be delayed us much as March 3rd.

Remind of upcoming deadline dates:
March 17th 2025: S-Corp and Partnership return deadline.
April 15th: C corporation and Personal tax filing deadline

IR-2025-08, Jan. 10, 2025 — The Internal Revenue Service today announced that the nation’s 2025 tax season will start on Monday, Jan. 27, 2025, and will feature expanded and enhanced tools to help taxpayers as a result of the agency’s historic modernization efforts.

01/08/2025

Tax season is almost here! Important deadlines to note:

January 15th is when the irs will open their e-filing systems for businesses only. The Date for personal return filing is yet to be determined, but it will more than likely be late January/early February.

January 31st is the deadline for most payroll filing such as 1099s, W2s, 940s, and 941s.

Monday march 17th (St Patrick’s day) is the deadline for S corp and Partnership filings/extensions.

As always April 15th is the deadline for personal tax returns or personal extensions. As a reminder, even with an extension all payments for your taxes need to be made by the 15th to avoid penalties and interest.

If you have any questions for the upcoming tax season or are needing help with payroll, bookkeping, tax compliance/planning, or financial planning
feel free to reach out here or at [email protected].