Harvey, Oliver, & Opsahl LLC

09/04/2026

If you use your personal vehicle for business, medical, or qualified moving purposes, take note—the IRS has announced a **mid-year increase** to the standard mileage rates, effective **July 1, 2026**, due to rising fuel costs.

📌 Remember: If you're tracking mileage for tax deductions or employee reimbursements, be sure your records distinguish between miles driven **before July 1** and those driven **on or after July 1**.

The midyear change follows an increase in gasoline prices, according to the IRS. It is the first such midyear adjustment since 2022.

08/27/2026

Many business owners are so busy running their business that bookkeeping gets pushed to the back burner—but it doesn't have to. We can help!

08/25/2026

📚✏️ Back-to-school shopping? Don’t toss those receipts!

Many school-related purchases may qualify for Minnesota’s K-12 Education Credit or Subtraction when you file your taxes. Items like notebooks, paper, textbooks, certain computer equipment, and even some tutoring expenses may qualify.

🧾 Save those receipts now—you may be glad you did at tax time!

ST. PAUL, Minn. – The Minnesota Department of Revenue reminds parents and caregivers that by saving back-to-school shopping receipts for purchases made this year they can claim valuable K-12 tax benefits at tax time next year.

08/24/2026

If you filed an extension, don’t forget the October 15 deadline is coming up. Get those returns filed and enjoy a waffle while you’re at it! 😊

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Waffles are best served fresh, and tax tasks are best done early. The Oct. 15 extension deadline is approaching, so now is a great time to file your return electronically using Free File. Start today: IRS.gov/FreeFile

08/21/2026

Tax Credit vs. Tax Deduction — What’s the Difference?

You’ve probably heard both terms during tax season, but they don’t work the same way!

Understanding the difference can help you better understand your tax return and the tax-saving opportunities that may be available to you.

Tax credits and tax deductions both decrease what you owe the IRS, but in different ways. Here's the difference, and how you can make them work for you.

08/13/2026

Still spending hours every pay period running payroll?

Between tax filings, direct deposits, new hire paperwork, and changing regulations, payroll can quickly become overwhelming. Spend less time worrying about payroll and more time growing your business.

📞 We'd love to talk about how we can simplify payroll for you.

08/05/2026

The IRS is warning taxpayers about a new scam targeting cryptocurrency holders.

Scammers are mailing official-looking letters claiming you must register for a "Digital Asset Compliance Portal." The letters include a QR code that directs you to a fake website designed to steal your personal information, cryptocurrency wallet details, or exchange login credentials. The IRS does not operate a Digital Asset Compliance Portal.

To help protect yourself:
✔️ Don't scan QR codes from unexpected IRS letters.
✔️ Verify any IRS communication by visiting IRS.gov directly.
✔️ Never share your wallet recovery phrase, private keys, or exchange credentials.
✔️ If something feels urgent or suspicious, slow down and verify before taking action.

As scams continue to become more sophisticated, a healthy dose of skepticism can go a long way in protecting your finances.

The IRS said fraudsters are mailing letters that direct digital asset holders to a bogus “Digital Asset Compliance Portal” that mimics IRS.gov to collect personal information.

07/22/2026

📚✏️ Back-to-school shopping is right around the corner! As you purchase qualifying school supplies and educational expenses, don't forget to see if you're eligible for Minnesota's K-12 Education Subtraction and Credit.

07/16/2026

Protect yourself from tax-related identity theft with a free IRS Identity Protection PIN (IP PIN). 🔒 This unique six-digit number helps prevent someone else from filing a federal tax return using your Social Security number. If you haven't enrolled yet, now is a great time to add this extra layer of security.

Learn more and request your free IP PIN here:

Get an identity protection PIN (IP PIN) to protect your tax account.

07/08/2026

Have you done a mid-year tax checkup yet? Have you had any major life changes this year?

Life changes like a new job, marriage, a growing family, or changes in income can all affect your taxes. A quick review now could help you avoid surprises next spring and even uncover tax-saving opportunities.

Learn more from the Taxpayer Advocate Service:

Take control of your taxes with a mid-year tax checkup. Learn how to avoid surprises, maximize savings, and prepare for tax season early.