NKC Accounting LLC

11/02/2026

💙 The best part of being a CPA? Seeing clients feel confident, supported, and ready for their next step.

It’s not just about balancing the books. It’s about building relationships, solving problems, and helping people feel less overwhelmed by their finances.

That’s what makes what we do at NKC Accounting so rewarding. 🤝

10/30/2026

Health Savings Accounts offer a powerful tax-advantaged way to pay for medical expenses. But they also come with some hidden tax traps. Here's what everyone should know.

Here's a tax tip worth keeping in your back pocket. Some may need it now, while others simply need to know this quirk exists.

10/30/2026

🎃 Forget ghosts and goblins. The real business nightmares are unorganized books, missing receipts, and unexpected tax bills! 👻

Keep your finances organized and avoid the scary surprises that can creep up on your business.

Need help keeping your books in order? NKC Accounting is here to help!

10/28/2026

Business owners, here's your reminder to stay alert! ⚠️

Scams can show up as fake IRS messages, suspicious emails, misleading tax tips, or requests for sensitive financial information.

Before clicking a link or sharing information, take a moment to verify who's contacting you. That simple step could help protect your business and your customers.

Take a look at these four common scams and keep them on your radar. 👇

10/26/2026

🎯 𝗦𝗽𝗼𝗿𝘁𝘀 𝗯𝗲𝘁𝘁𝗼𝗿𝘀, 𝗵𝗲𝗿𝗲'𝘀 𝘀𝗼𝗺𝗲𝘁𝗵𝗶𝗻𝗴 𝘄𝗼𝗿𝘁𝗵 𝗸𝗻𝗼𝘄𝗶𝗻𝗴 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗮𝘅 𝘀𝗲𝗮𝘀𝗼𝗻!

Did you know you could owe taxes on your sports betting activity even if your total winnings and losses balance out?

With sports betting and prediction markets becoming more common, it's important to understand how the IRS treats gambling income.

Here's a quick breakdown:

✅ 𝗚𝗮𝗺𝗯𝗹𝗶𝗻𝗴 𝗹𝗼𝘀𝘀𝗲𝘀 𝗺𝗮𝘆 𝗯𝗲 𝗹𝗶𝗺𝗶𝘁𝗲𝗱. Under the One Big Beautiful Bill Act of 2025, eligible gambling losses are generally deductible up to 90% of those losses, subject to applicable limitations.

✅ 𝗧𝗮𝘅 𝗳𝗼𝗿𝗺𝘀 𝗺𝗮𝘆 𝗯𝗲 𝗶𝘀𝘀𝘂𝗲𝗱. Depending on the type and amount of your winnings, you may receive Form W-2G.

✅ 𝗙𝗲𝗱𝗲𝗿𝗮𝗹 𝘄𝗶𝘁𝗵𝗵𝗼𝗹𝗱𝗶𝗻𝗴 𝗺𝗮𝘆 𝗮𝗽𝗽𝗹𝘆. Certain gambling winnings may be subject to 24% federal tax withholding.

✅ 𝗞𝗲𝗲𝗽 𝗮𝗰𝗰𝘂𝗿𝗮𝘁𝗲 𝗿𝗲𝗰𝗼𝗿𝗱𝘀. Track your wagers, winnings, losses, and any tax forms you receive.

One important reminder: 𝗬𝗼𝘂 𝗴𝗲𝗻𝗲𝗿𝗮𝗹𝗹𝘆 𝗺𝘂𝘀𝘁 𝗿𝗲𝗽𝗼𝗿𝘁 𝗴𝗮𝗺𝗯𝗹𝗶𝗻𝗴 𝘄𝗶𝗻𝗻𝗶𝗻𝗴𝘀 𝘄𝗵𝗲𝘁𝗵𝗲𝗿 𝗼𝗿 𝗻𝗼𝘁 𝘆𝗼𝘂 𝗿𝗲𝗰𝗲𝗶𝘃𝗲 𝗮 𝘁𝗮𝘅 𝗳𝗼𝗿𝗺.

Even if you feel like you've broken even, your tax bill could tell a different story. Staying informed and planning ahead can help you avoid surprises.

At NKC Accounting we're here to help you make sense of your tax obligations and prepare with confidence.

💬 Have questions about how sports betting could affect your taxes? Book a discovery call today nkcaccounting.com

10/23/2026

If you make a mistake on your tax return, it may be noticed by the IRS. Here are some of the most common causes.

October 15th marks the end of the 2025 tax filing season. Now the formal audit period for 2025 tax returns is underway. Here are some tips to be prepared.

10/23/2026

Are you keeping up with the latest tax updates? 👀

From IRS filing changes to paycheck withholdings and retirement planning, there are several things worth reviewing before year-end.

We've put together a quick guide to 5 tax updates that individuals and business owners should know about.

👉 Swipe through the carousel to see what deserves your attention.

Remember, planning ahead can help you make more informed decisions and avoid unnecessary tax-time stress.

10/19/2026

7 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿 𝗥𝗶𝗴𝗵𝘁𝘀 𝗬𝗼𝘂 𝗦𝗵𝗼𝘂𝗹𝗱 𝗞𝗻𝗼𝘄 𝗔𝗯𝗼𝘂𝘁 📌

Dealing with tax debt or an unresolved IRS issue can feel overwhelming, but it's important to know that you may have options.

The IRS Taxpayer Bill of Rights outlines protections that can help taxpayers understand their rights and explore potential solutions.

Here are 7 taxpayer rights worth knowing:

1. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗚𝗲𝘁 𝗛𝗲𝗹𝗽: Seek assistance from the Taxpayer Advocate Service or a Low Income Taxpayer Clinic for qualifying tax issues.

2. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗔𝗿𝗿𝗮𝗻𝗴𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗣𝗹𝗮𝗻𝘀: Eligible taxpayers may arrange monthly payments if they cannot pay their tax bill in full.

3. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝗧𝗮𝘅 𝗦𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁: An Offer in Compromise may allow eligible taxpayers to settle their tax debt for less than the full amount.

4. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗣𝗿𝗼𝘁𝗲𝗰𝘁 𝗕𝗮𝘀𝗶𝗰 𝗟𝗶𝘃𝗶𝗻𝗴 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀: IRS collection guidelines consider essential living costs when evaluating tax debt settlements.

5. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗪𝗮𝗴𝗲 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻: The IRS cannot levy all your wages. A portion is exempt to help cover basic living expenses.

6. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗧𝗮𝘅 𝗼𝗿 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗥𝗲𝗹𝗶𝗲𝗳: Certain taxes and interest may be reduced or removed when specific legal requirements are met.

7. 𝗥𝗶𝗴𝗵𝘁 𝘁𝗼 𝗥𝗲𝗹𝗶𝗲𝗳 𝗙𝗿𝗼𝗺 𝗖𝗲𝗿𝘁𝗮𝗶𝗻 𝗜𝗥𝗦 𝗘𝗿𝗿𝗼𝗿𝘀: Interest may be reduced or abated when unreasonable IRS delays or errors cause additional charges and the taxpayer meets the applicable requirements.

Knowing your rights is an important first step toward making informed decisions about your taxes.

Remember, eligibility and requirements vary based on individual circumstances.

Need guidance with your taxes? NKC Accounting is here to help you understand your options and plan with confidence.

Book a discovery call today!
🌐 www.nkcaccounting.com

10/16/2026

Contractor or employee? 👀

It’s not always as simple as what you call the worker.

Worker classification can affect taxes, benefits, and even potential penalties. The IRS looks at the overall working relationship and how much control and independence are involved.

If you're a business owner or independent contractor, this is one distinction you don't want to overlook.

👉 Swipe through for the basics!

Save this for later. 📌