Mobile T-A-X and Finances

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Mobile T-A-X and Finances

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Welcome to Mobile T-A-X and Finances! We offer virtual tax and financial services nationwide. Our team streamlines your finances and helps you reach your goals.

Contact us today for personalized and convenient service! Virtual Tax Preparation Service for Individual and Small Business.

10/30/2026

Accurate W-2 Reporting Is Required to Deduct 2026 Overtime – Did You Know?

Eligible taxpayers may deduct up to $12,500 of qualified overtime compensation ($25,000 for joint filers) on their 2026 federal income tax returns without itemizing. The deduction begins phasing out when modified adjusted gross income exceeds $150,000 ($300,000 for joint filers). Married taxpayers generally must file jointly. Qualified overtime generally means the “half” portion of time-and-a-half pay required under the Fair Labor Standards Act. Social Security and Medicare taxes still generally apply.

For 2026, employers must report qualified overtime on Form W-2 in box 12 using code “TT.” If the amount is missing or incorrect, contact your employer and keep supporting pay stubs handy. Be sure to obtain a corrected Form W-2c (Corrected Wage and Tax Statement) if your employer omitted or incorrectly reported your qualified overtime pay.

10/20/2026

Educators Have New Options to Deduct 2026 Classroom Expenses – Did You Know?

If you work as a K–12 teacher, instructor, counselor, principal or aide for at least 900 hours during the school year at a qualifying school, you may be able to deduct qualifying unreimbursed classroom expenses on your tax return.

For 2026, eligible educators may deduct up to $350 of qualifying expenses as an above-the-line deduction without itemizing, or up to $700 for a married couple filing jointly if both qualify, with a limit of $350 each.

Additionally, a new itemized deduction is available beginning in 2026 for educator expenses, with no separate dollar cap. You must itemize deductions to claim this additional deduction. It is also available to interscholastic sports administrators and coaches who meet the K–12 school and 900-hour requirements, and may cover additional expenses.

Eligible educators may claim both deductions, as long as the expenses used to figure each deduction do not overlap. A tax professional can help you determine whether you qualify and which deduction strategy yields the greatest possible tax savings.

10/20/2026

Friends, family, and community, 💛

Mobile T-A-X and Finances is growing, and today I’d like you to meet someone helping us do it: Jay Hunter, managing partner of 575 Asset Management.

Jay brings more than 20 years of experience in accounting and finance, including work with Big Four firms and large consulting firms. He helps business owners with financial reporting, planning, and the systems behind their numbers.

I value Jay’s perspective that tax planning and business planning shouldn’t happen in separate rooms. Your books may be filed for taxes—but are they useful for running your business?

Together, Mobile T-A-X and Finances and 575 Asset Management are expanding into tax planning and preparation, bringing those conversations into the same room.

Jay brings the same discipline to life outside the office, too. He biked from Chicago to Mobile in 21 days, rode from Chicago to Milwaukee, and completed a 15K. Next up: a ride from Chicago to South Bend. That endurance and careful planning carry over to the work he does for clients.

Please join me in welcoming Jay!

FinancialClarity BusinessPlanning

10/14/2026

You can do everything right for years—save money, pay your bills on time, and live within your means.

Then one rush decision ruins it:

🔴 Buying things you can’t truly afford.

🔴 Signing for someone else's loan when they can't pay.

🔴 Maxing out a credit card to look rich today.

🔴 Putting your money into a "get rich quick" scheme.

🔴 Skipping important bills to save a few bucks.

Growing your money is mostly about avoiding dumb mistakes.

Before you make a big move with your cash, ask yourself:

Is this helping my future, or just making me feel good right now?

Protect what you have first.

Save this post as a quick reminder before you spend big. 🛑

SmartSpending

10/12/2026

October 15 Filing Extension Deadlines

Taxpayers who timely requested an extension to file their 2025 federal income tax returns generally must file by Thursday, October 15, 2026. The same deadline generally applies to calendar-year C corporations that received an extension to file their 2025 corporate returns (Form 1120).

In addition, U.S. persons with a financial interest in or signature authority over foreign financial accounts whose combined value exceeded $10,000 at any time during 2025, and who are required to file a Report of Foreign Bank and Financial Accounts (FBAR), generally must file by October 15, 2026. The FBAR extension is automatic; no extension request is necessary.

10/09/2026

Up to $5,120 of the Adoption Tax Credit Is Refundable for 2026 – Did You Know?

The Adoption Tax Credit helps eligible families manage qualified costs such as adoption fees, travel, legal services and home studies. In recent years, the credit was nonrefundable: it could reduce a person's federal income tax, but any unused amount generally had to be carried forward.

Under rules that took effect in 2025, part of the credit is now refundable. For tax year 2026, up to $5,120 per eligible child may be refundable, even if the taxpayer owes no federal income tax. Any unused nonrefundable portion may be carried forward for up to five years, but a carryforward cannot become refundable in a later year.

The Adoption Tax Credit is subject to income limits and other restrictions, and the timing of a claim depends on the circumstances of the adoption. A tax professional can help determine whether you qualify and how much credit you may claim.

10/05/2026

A lot of us grew up thinking the routine was simple: you wake up, give your best hours to work, and squeeze your family into the leftover time before bed.

Let’s be real—the bills aren’t going anywhere, and most of us don’t have the luxury not to work. But at some point, another truth hits you: you can always pick up another shift, land another contract, or find another job. What you can’t replace is this time with the people you love.

Shifting your mindset around how you spend your time doesn’t mean you’re lazy. It just means you’re deciding to work to live, not live to work.

Your schedule should serve your life, not the other way around.

Where are you at right now? Drop a 1 or a 2 in the comments:

1️⃣ My family comes first; work fits around them

2️⃣ Still trying to untangle work from taking over everything

Hashtags:

09/30/2026

Enhanced Tax Credit Can Help Cover 2026 Childcare Costs – Did You Know? (2/2)

If you pay for care for your child under 13 years of age, or for your spouse or other dependent who requires help with basic self-care, then you may qualify for a federal tax credit. The Child and Dependent Care Tax Credit (CDCTC) can help reduce your federal income tax based on care expenses that you pay in order to work or seek work.

The CDCTC is calculated as a percentage of eligible care expenses. As in the past, the credit is subject to phase-down ranges, meaning that the maximum credit amount may decrease based on a person's adjusted gross income (AGI). However, new rules that took effect this year have significantly increased the maximum credit amount for people with AGIs both below and within the phase-down ranges.

For example, a married couple filing a joint return with an AGI of 75,000-150,000 may qualify for a credit of up to 35% of eligible care costs, up from 20% in 2025. Meanwhile, a single filer with an AGI of $15,000 or less may be entitled to a credit equaling 50% of qualifying expenses. Above $15,000, the rate gradually declines, reaching 35% once AGI exceeds $43,000. A tax professional can help you determine whether you qualify for the CDCTC, and if so, what percentage you may use to figure your credit amount.

09/22/2026

You can’t fix a financial problem with the same mindset that created it.

More income won’t solve money stress if your habits stay the same—it just funds higher-priced mistakes. If you want your balance to grow, shift how you think:

Budgets aren't cages: They just give your money direction instead of leaving you wondering where it went.

Peace over impulse: Temporary retail therapy costs long-term freedom. Financial freedom is having options, not just things.

Face the numbers: Avoidance feeds anxiety. Your balances aren't a judgment—they're your starting point.

Build, don't just spend: Stop asking what a dollar can buy today; start asking what it can build tomorrow.

Change your mindset, and the money will follow.

FinancialLiteracy MindsetShift PersonalFinance BudgetingTips BuildWealth

09/21/2026

Enhanced Tax Credit Can Help Cover 2026 Care Costs – Did You Know? (1/2)

If you pay for care for your qualifying child under age 13, or for your spouse or other qualifying person who is physically or mentally incapable of self-care and lives with you for more than half the year, then you may qualify for a federal tax credit. The Child and Dependent Care Tax Credit (CDCTC) can help cover care expenses you pay in order to work or seek work. Rule changes that took effect this year have made the CDCTC more valuable for many households.

As in past years, you may use up to $3,000 of eligible expenses to figure the credit for one qualifying person, or up to $6,000 for two or more qualifying persons. However, beginning in 2026, the maximum credit rate increased from 35% to 50% of eligible expenses. The applicable percentage declines as adjusted gross income rises, but many households may qualify for a larger credit than under prior law. The increase can be as much as $900 for taxpayers with two or more qualifying persons.

In general, the CDCTC is available for all filing statuses except married filing separately (MFS). However, MFS filers may qualify if they meet special requirements, including filing separately, maintaining a home for a qualifying person for more than half the year, paying more than half the cost of maintaining the home, and not living with their spouse during the last six months of the year. To claim the credit, you must provide information about both the care recipient and care provider on your tax return. A tax professional can help you determine whether you are eligible for the CDCTC, and if so, help you meet the reporting requirements to claim the largest possible credit.

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