Nuttall & Patel LLP

10/08/2026

For mortgage professionals, Q4 can be the strongest stretch of the year. It's also when tax planning most often falls behind the income.

Commissions don't come with withholding W-2 employees have tax taken out of every paycheck. Commission-based brokers and loan officers paid as independent contractors don't. Every estimated payment is a decision you make yourself, often based on numbers from earlier in the year.

Where the gap shows up If your estimates were set during a slower first half, a strong fourth quarter can leave you underpaid. You often won't feel it until the January 15 estimated payment or when your return is prepared, and by then the options are limited.

The safe harbor rule To generally avoid federal underpayment penalties, total payments need to cover at least 90% of this year's tax or 100% of last year's tax. If last year's adjusted gross income was over $150,000, that becomes 110%. Knowing which target applies to you turns a guess into a plan.

Three questions to answer before December 31 What have I earned year-to-date? What have I already paid in? What's the realistic gap, and how will I cover it?

Answering these in October or November leaves room to adjust payments, time business purchases or plan retirement contributions. Answering them in April leaves you writing a check.

Variable income is part of the mortgage business. A variable tax plan doesn't have to be.

If you'd like to run your Q4 numbers before year-end, book a call.

📞 (714) 630-0440 📍 Anaheim, CA 🌐 nuttallpatel.com Nuttall & Patel LLP | Anaheim, CA | Serving clients nationwide

10/07/2026

Every January, contractors run into the same problem. The 1099 deadline is January 31, and half the W-9s they need are still missing.

This year there's an added change to plan around.

The threshold moved For payments made in 2026, the 1099-NEC reporting threshold rises from $600 to $2,000. Fewer small payments will need a form. But the subcontractors you pay most still will, and they're the ones where mistakes cost the most.

W-9s still come first A sub you've paid $1,500 so far can cross $2,000 with one more invoice in December. Collecting the W-9 before the first payment is still the simplest rule to follow.

Not every payment is yours to report Payments made by credit card or through certain third-party payment platforms are generally reported by the processor on Form 1099-K. Knowing how each sub was paid prevents both duplicate and missing reports.

Entity type matters Most payments to corporations don't need a 1099. For an LLC, it depends on how the LLC is taxed. The W-9 answers this; assumptions don't.

Classification is the bigger risk A missed 1099 brings a penalty. Treating an employee as a subcontractor can bring back payroll taxes, penalties and state-level exposure. California applies some of the strictest classification rules in the country.

None of this is complicated. It's just easier to fix with three months of runway than with three weeks.

If you want a second set of eyes on your subcontractor records before year-end, book a call.

📞 (714) 630-0440 📍 Anaheim, CA 🌐 nuttallpatel.com Nuttall & Patel LLP | Anaheim, CA | Serving clients nationwide

10/07/2026

Take a moment this week to recognize how far you've come. Gratitude has a way of turning ordinary moments into extraordinary ones.

10/07/2026

When you're applying for financing, your application is only part of the picture.

Lenders may also look closely at your financial statements to understand how your business is performing.

Your Profit & Loss Statement helps show the story behind the numbers your revenue, operating expenses, and net income.

But outdated or inconsistent financials can make that story harder to understand.

For mortgage brokers, keeping your books current and your financial statements accurate can help you stay prepared when financing opportunities come up.

Know your numbers before the lender asks for them.

Connect with Nuttall & Patel LLP for clearer business financials.

10/06/2026

Does your business accept large cash payments? Receiving more than $10,000 can trigger Form 8300 reporting requirements. Learn what counts as cash, key deadlines, and why accurate filing matters.

Businesses receiving large cash payments may need to file Form 8300. Learn what counts as cash, filing deadlines, and when reporting is required.

10/06/2026

It's never too early to think about year-end giving. Planning ahead can help maximize both your charitable impact and potential tax benefits.

10/05/2026

Year-end tax planning isn't about waiting until tax season to find out what you owe.

It starts with understanding where your business stands before the year ends.

Review your year-to-date income and expenses. Check your estimated tax payments. Look at major purchases, business investments, retirement contributions, and changes in income that could affect your tax position.

Most importantly, identify what decisions still need to be made before December 31.

The earlier you understand your numbers, the more time you have to plan.

Connect with Nuttall & Patel LLP to start your year-end tax planning.

10/05/2026

Learn when businesses must file Form 8300, what counts as cash, and the reporting rules that apply to large cash payments.

10/02/2026

A new week is another opportunity to grow. Focus on making progress each day, and you'll be amazed at how far you can go.

10/02/2026

Holiday shoppers are already starting to browse. Preparing your inventory and online store now can help you stay ahead of the rush.