The 10% Early Withdrawal Penalty
2026 Mileage Rates are Here! Published: 02/23/2026 It’s one thing to be taxed on retirement contributions and their related earnings when you withdraw funds from your IRA or 401(k) during retirement. It’s quite another when you pay the tax PLUS a 10% penalty for an early withdrawal. Need funds prior to retirement and want to […]
2026 Mileage Rates are Here!
2026 Mileage Rates are Here! Published: 02/23/2026 Mileage rates for travel are now set for 2026. The standard business mileage rate increases by 2.5 cents to 72.5 cents per mile. The medical and moving mileage rates go down 1/2 cent to 20.5 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile. […]
Reminder: Fourth Quarter Estimated Taxes Now Due
Reminder: Fourth Quarter Estimated Taxes Now Due Published: 02/20/2026 If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 4th quarter due date for the 2025 tax year is due on or before January 15, 2026. Due date: […]
The IRS Says Late filing of S corporation and partnership returns can be costly
The IRS Says Late filing of S corporation and partnership returns can be costly Published: 02/17/2026 The IRS is penalizing late filers of S corporation and partnership tax returns. This despite the fact that late filing of the tax returns (Forms 1120S and 1065), due March 15th, often does not impact the receipt of the […]
Don’t Overlook Renters Insurance
The Hidden Costs All Around Us – and How to Stop Paying Them Published: 02/14/2026 Do you rent an apartment or condo? If so, do you have renters insurance to protect your belongings and to cover you against liability claims? A surprising number of renters don’t bother with insurance. Some assume they’re covered by their […]
Simple Ideas to Help Your Small Business
Simple Ideas to Help Your Small Business Published: 02/12/2026 Here are several ideas to help your business grow and thrive. Understand your cash flow. One of the biggest causes of business failure is lack of understanding cash flow. At the end of the day, you need enough cash to pay your vendors and your employees. […]
The Hidden Costs All Around Us – and How to Stop Paying Them
The Hidden Costs All Around Us – and How to Stop Paying Them Published: 02/10/2026 It’s tough out there. The cost of everything is going up, from healthcare to groceries. Plus the practice of companies using monthly fees as annuity income has become overwhelming. In an effort to give you ideas and tips to cut […]
Easy-to-Miss Income Sources That Can Cause Tax Headaches Later
Easy-to-Miss Income Sources That Can Cause Tax Headaches Later Published: 02/06/2026 The IRS is getting pretty good at comparing your income reports against what you claim on your tax return. The result is a notice in the mail called a correspondence audit. If you get one, it unfortunately takes a long time to straighten it […]
Your Ultimate Tax Filing Checklist
Your Ultimate Tax Filing Checklist Published: 02/03/2026 A smooth tax filing experience starts before your return is prepared. When your information is organized and easy to follow, everything moves faster and feels far less stressful. This checklist gives you a simple, practical way to gather all your tax information. Use last year as your cheat […]
Tips to Organize Your Tax Records
Tips to Organize Your Tax Records Published: 01/31/2026 As important tax records start filling mailboxes, how can you make sure your tax preparation goes smoothly and efficiently this year? Here are some tips. Keep it all in one place. It seems obvious, but how often have you found yourself going through piles of paper looking for […]