Oak City Accounting

04/29/2026

I’m still carrying a little bit of Ireland with me this week—and honestly, I hope I don’t lose it anytime soon.

Attending the EO Global Leadership Conference reminded me, in the best possible way, that growth doesn’t happen in isolation. It happens in rooms (and sometimes on muddy fields!) filled with people who challenge you, support you, and push you to think bigger than you planned.

Stepping into this next chapter as President-Elect of our Raleigh/Durham chapter feels both exciting and deeply meaningful. I’m coming back not just with ideas—but with a clearer sense of responsibility to serve our members well, foster real connection, and create the kind of environment where leaders can do their best work and be their most authentic selves.

And yes… there were a few moments that kept me humble. Gaelic football? Let’s just say I have a newfound respect for the pros. And the Irish jig—well, I gave it my best shot, but no one’s calling me to join the touring company just yet.

What stood out most, though, was the spirit of Ireland itself—welcoming, genuine, and grounded in community. It’s a good reminder that business is important, but people always come first.

I’m back in Raleigh energized, grateful, and ready to get to work.

02/27/2026

Tax refunds are up 14% this year thanks to recent law changes.

That’s real money going back into the pockets of families and business owners — and we love to see it.

But here’s the part no one likes to talk about…

Scammers are targeting this refund increase with fake IRS notifications trying to steal that windfall.

We’re already seeing:
• Emails saying “Your refund is ready — click here.”
• Texts claiming there’s a “processing issue.”
• Phone calls asking you to confirm your bank details.
• Messages threatening penalties if you don’t respond immediately.

Let’s keep this simple:
The IRS does NOT text you.
The IRS does NOT DM you on social media.
The IRS does NOT email you links asking for personal information.

If someone is creating urgency, threatening you, or promising to “release” your refund faster — it’s a scam. Period.

Here’s what to do instead:
1️⃣ Don’t click the link.
2️⃣ Don’t give out your Social Security number or bank info.
3️⃣ Forward suspicious emails to [email protected]
4️⃣ Call your CPA before you respond.

We work too hard helping you protect and grow your business to let one fake message cause chaos.

Refunds may be bigger in 2026 and that’s something to celebrate. But protecting your identity and your money? That’s always the priority.
If you get something that doesn’t feel right, send it to us first. We’re happy to take a look and help you sort it out.

Better safe than sorry, especially when it comes to your hard-earned dollars.

02/10/2026

Tax season has a way of making everyone feel a little too confident. And while we love a good DIY moment, your taxes usually aren’t the place to wing it.

Here’s why working with a CPA for your tax preparation really matters:

✅ We do more than file paperwork
A CPA looks at the big picture...your income, deductions, business structure, and future plans. Tax software just fills in boxes. A CPA has graduate degrees in accounting and mandatory hours of continuing education each year.

✅ We help you keep more of what you earn (legally!)
Good tax planning isn’t about shortcuts. It’s about smart, compliant strategies that hold up over time.

✅ Tax laws change constantly
What worked last year might not work this year. CPAs stay on top of the rules so you don’t miss savings—or make costly mistakes.

✅ Peace of mind is priceless
If the IRS ever has questions, you’ll be glad you had a professional in your corner who knows your numbers inside and out.

✅ Your time is better spent elsewhere
Running a business or managing a busy career is hard enough. Let us handle the tax details.

Bottom line:
A CPA isn’t just preparing a return—we’re helping protect your money, your business, and your future.

If you’re ready for a calmer, more confident tax season, we’re here and happy to help.

02/04/2026

Leadership looks good in the sunshine! We’re so proud of our owner, Maribeth Christensen, CPA!

President-Elect Maribeth Elias Christensen, CPA, who recently traveled to Punta Cana for the EO U.S. Presidents’ Meeting with Entrepreneurs' Organization.

Surrounded by other incoming presidents from across the country, Maribeth spent the week:
*Collaborating on chapter goals
*Planning a thoughtful transition to the incoming board
*Strengthening connections with fellow EO leaders
And yes… soaking up some well-earned warm weather and sunshine before we had our snowstorm here in Raleigh🌴

This is what intentional leadership looks like — doing the work, building the relationships, and setting the foundation for long-term impact.

Maribeth, thank you for your dedication, heart, and enthusiasm for EO. We’re excited to watch this next chapter unfold and know many successful years lie ahead under your leadership.

Here’s to growth, community, and leading with purpose — even better when it includes a little sunshine!

01/28/2026

Emma, Josie and Mabel would like for you to pay attention.

"Want to reduce your taxes instantly? No gimmicks. No gray areas. Just smart investments the IRS actually rewards."

Here are 5 investments that can lower your tax bill right away:
1) Retirement Accounts (401(k), Solo 401(k), SEP-IRA)
Contributions are often 100% deductible, which means less taxable income today and long-term wealth tomorrow. That’s a win-win we’ll take all day.

2) Health Savings Account (HSA)
✔ Deductible going in
✔ Grows tax-free
✔ Withdrawn tax-free for medical expenses
If you’re eligible, this is one of the smartest moves on the board.

3) Real Estate (with Cost Segregation)
Depreciation can create paper losses that offset real income, even if the property is cash-flow positive. This is how many high-income earners play defense legally.

4) Energy-Efficient Improvements
Solar panels, energy upgrades, and certain green investments can trigger dollar-for-dollar tax credits. Credits beat deductions every time.

5) Your Own Business
Investing back into equipment, vehicles, technology, or hiring can generate immediate deductions while helping your business grow. Smart growth = smart tax planning.

Taxes aren’t just about what you make...they’re about what you keep. And the best time to plan is before the return is filed.

If you want help turning these strategies into real savings (without crossing any lines), let’s talk. We love helping business owners keep more of what they earn. Here’s to investing wisely and keeping your money working for you.

-The Oak City Accounting Canine Team Extraordinaire

01/23/2026

Emma and Josie would like you to know that the IRS has announced that Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

Taxpayers have until Wednesday, April 15, 2026, to file their 2025 tax returns and pay any tax due. The IRS expects to receive about 164 million individual income tax returns this year, with most taxpayers filing electronically.

https://www.irs.gov/newsroom/irs-announces-first-day-of-2026-filing-season-online-tools-and-resources-help-with-tax-filing

01/21/2026

“Everyday expenses” don’t have to be after-tax money in 2026...if you do this right.

One of the biggest myths we hear from business owners is:
“I just can’t write that off.” Truth?

Many everyday expenses are 100% legal tax deductions when structured correctly and documented the right way. Here’s how smart business owners are doing it.

1️⃣ Your phone & internet
If you use them for work (emails, scheduling, clients, marketing), a business-use percentage is deductible. No, not the whole bill — but yes, a meaningful portion.
2️⃣ Home office (done the right way)
If you work from home regularly and exclusively:
-A portion of rent or mortgage
-Utilities
-Insurance
-Repairs
All can be written off.
3️⃣ Your vehicle
Driving to:
-Client meetings
-The bank
-Networking events
-The office
That’s business mileage. Track it. In 2026, this is still one of the largest missed deductions we see.
4️⃣ Meals... yes, really
Client meals, team meals, business travel meals?
Still deductible when properly documented.
No, not your solo Starbucks run (we get asked every year).
5️⃣ Education & subscriptions
Courses, certifications, coaching, software, industry memberships if it helps you make money, it often reduces the taxes on that money.
6️⃣ Retirement & health strategies (the grown-up write-offs)
Solo 401(k)s, HSAs, and properly structured entity planning can turn “personal” expenses into powerful tax strategies.

Here’s the part no one likes to hear:
Write-offs aren’t about being aggressive, they’re about being intentional.
The IRS doesn’t reward guesses. They reward:
✔️ Good records
✔️ Clean books
✔️ Smart planning before December 31
If you want your everyday spending to work harder for you in 2026, it’s time to plan. We’re always happy to help you do this legally, confidently, and without losing sleep.

Oak City Accounting is a Raleigh accounting firm offering tax planning strategies, tax preparation, and bookkeeping to small businesses and individuals.

01/07/2026

Shopping for a new car? It might be a good time!

The IRS and U.S. Treasury just rolled out official guidance on a brand-new tax deduction that could save car buyers up to $10,000 in 2026.

The guidance applies to the recently approved “No Tax on Car Loan Interest” provision under the One, Big, Beautiful Bill. The proposed regulations relate to a new deduction for interest paid on vehicle loans incurred after Dec. 31, 2024, to purchase new made-in-America vehicles for personal use. This new tax benefit applies to both taxpayers who take the standard deduction and those who itemize deductions.

According to the IRS, eligible vehicles include cars, SUVs, vans, pickups and motorcycles weighing under 14,000 pounds, so long as final assembly occurred in the U.S.

The deduction applies for tax years beginning after Dec. 31, 2024, and before Jan. 1, 2029. Read more about it here: https://www.irs.gov/newsroom/treasury-irs-provide-guidance-on-the-new-deduction-for-car-loan-interest-under-the-one-big-beautiful-bill

11/19/2025

Bookkeeping Basics for Small Business

Let’s be honest! Most small business owners didn’t start their business because they were dying to reconcile bank statements. You started it to serve people, create freedom, and build something meaningful.

But here’s the truth we see every day at Oak City Accounting: your bookkeeping is the backbone of your business. And when it’s clean, current, and consistent, everything gets easier — taxes, cash flow, hiring, pricing… all of it.

Here are the bookkeeping fundamentals every owner should have on lock:
1) Create a Bookkeeping System for Your Business.
We exclusively work with QuickBooks but whatever software you choose, it needs to clearly show income and expenses. Gross receipts, purchases and expenses, other assets you own as well as a summary of all the transactions that make up these numbers MUST be included for the IRS. The burden of proof is on you and the IRS can choose to disallow your deductions or even fine you

2) Centralize Your Transactions
Watch out for missed transactions because it can trigger and audit or even cost you in the long run such as missed write offs. Do NOT comingle personal and business funds. It is super easy to connect your business bank account to QuickBooks

3) Categorizing your Transactions in these 1 of 5 areas:
Sales, Expenses, Assets, Liabilities and Equity

4) Maintain Supporting Documentation
These include invoices, receipts, bank deposit slips, purchase documents and any travel related expenses all electronically or via paper

5) Reconciling Your Books
Last and important step before filing taxes...you need to match your bank statement transactions to what is in your bookkeeping software. This will allow you to catch errors or discrepancies

6) Finalize Your Financial Statements
This includes your income statement/profit and loss statement AND your balance sheet

And if this all feels overwhelming, that’s exactly why we’re here. At Oak City Accounting, we help small business owners get out of bookkeeping chaos and into clarity — so you can spend more time growing, serving, and doing the work you love.

If you ever want a quick, judgment-free check-in on your books, send us a message. We’ve got your back!

11/12/2025

NEW for 2026: The HSA Just Got a Big Upgrade!

If you love saving on taxes (who doesn’t?), this one’s for you

Starting in 2026, Health Savings Accounts (HSAs) will have higher limits and broader eligibility — meaning more people can use them to triple their tax savings.

Here’s the magic:
1️⃣ You contribute pre-tax — lowering your taxable income.
2️⃣ The money grows tax-free — like a little retirement fund for healthcare.
3️⃣ You spend it tax-free on qualified medical expenses.

That’s what we call a triple win!

✅ 2026 limits: $4,400 individual / $8,750 family
✅ Bronze & Catastrophic Marketplace plans now qualify

Want to make sure you’re set up to maximize your HSA next year?
Our team at Oak City Accounting can walk you through how this fits into your year-end and 2026 tax strategy.

Because every dollar you don’t send to the IRS is one you can invest in your business, your health, or your future.