11/03/2026
Good morning everyone time to post some updates, as I said before not alot changing. State local updates will come after my conference mid Nov.
For personal taxes:
1. First and foremost beware of scams. They always ramp up a few months before tax season. The most important thing to remember is the taxing authority don't initiate contact via emails, social media, texts, or phone calls. They will send a letter first.
2. Gambling thresholds have increased from 1200 to 2000. Even though some will issue a W2G for lower amount. All gambling income is still considered taxable.
3. The threshold for 1099 misc and 1099Nec is up from 600 to 2000. 1099k is 20000.
4. This year you can take up to an 1000 deduction and 2000 for married filing joint above the line deduction for cash charitable deductions.
5. If your 65 or older and want to convert some of your traditional IRA money to a Roth IRA remember as long as you are under the income guidance you can transfer up to 6000 per person tax free.
Business Taxes
1. Time to get those books cleaned up for the end of the year
2. Business use of vehicle mileage was raised in July so you need to make sure you have it marked Jan through June and July through December.
3. Please refer to my personal tax updates number 3 for your 1099nec thresholds.
Office updates: I will start taking appointments for the tax season January 5th 2027. If you are referring a new client please remember to tell the to get their spot before the end of the first week in February before I shut off new clients.
Again I encourage drop offs this year and you will still be scheduled to come and go over the return and sign. Hours. Will be posted in January.
