Stanaland, Dodson & Associates LLP

Stanaland, Dodson & Associates LLP Stanaland, Dodson & Associates, LLP is a distinguished Certified Public Accountants firm founded in 1984.

Offering a suite of services including tax planning for businesses and individuals, accounting with reviews and compilations, strategic consulting, b

10/08/2026

Fourth Quarter Question with Tiffany Dodson, Enrolled Agent.

10/06/2026

๐Ÿ“ˆ Good Business Habits Pay Off
Tiffany Dodson, Enrolled Agent, shares tips from over 30 years of business experience.

๐Ÿ“ˆ Are More Investors Paying the 3.8% Net Investment Income Tax?The answer is yes.The ๐Ÿ‘.๐Ÿ–% ๐๐ž๐ญ ๐ˆ๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ ๐ˆ๐ง๐œ๐จ๐ฆ๐ž (๐๐ˆ๐ˆ) ๐“๐š...
10/01/2026

๐Ÿ“ˆ Are More Investors Paying the 3.8% Net Investment Income Tax?

The answer is yes.

The ๐Ÿ‘.๐Ÿ–% ๐๐ž๐ญ ๐ˆ๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ ๐ˆ๐ง๐œ๐จ๐ฆ๐ž (๐๐ˆ๐ˆ) ๐“๐š๐ฑ applies to certain investment income, including dividends, capital gains, interest, annuities, and some passive activity income.

The income thresholds are:
โ€ข $200,000 for single filers
โ€ข $250,000 for married couples filing jointly
โ€ข $125,000 for married filing separately

๐Ÿ“Œ One important detail: These thresholds have not been adjusted for inflation since the tax was introduced in 2013. As incomes and investment gains have grown, more taxpayers are finding themselves subject to the surtax.

If you've had significant investment income, a large stock sale, or the sale of real estate, it may be worth considering the potential impact of the NII tax as part of your overall tax planning.

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๐˜๐จ๐ฎ๐ซ ๐„๐ฌ๐ญ๐š๐ญ๐ž ๐Œ๐š๐ฒ ๐๐ž ๐๐ž๐ฅ๐จ๐ฐ ๐ญ๐ก๐ž ๐„๐ฌ๐ญ๐š๐ญ๐ž ๐“๐š๐ฑ ๐‹๐ข๐ฆ๐ข๐ญ โ€” ๐๐จ๐ซ๐ญ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐‚๐š๐ง ๐’๐ญ๐ข๐ฅ๐ฅ ๐Œ๐š๐ญ๐ญ๐ž๐ซThe federal estate and gift tax exemption is...
09/29/2026

๐˜๐จ๐ฎ๐ซ ๐„๐ฌ๐ญ๐š๐ญ๐ž ๐Œ๐š๐ฒ ๐๐ž ๐๐ž๐ฅ๐จ๐ฐ ๐ญ๐ก๐ž ๐„๐ฌ๐ญ๐š๐ญ๐ž ๐“๐š๐ฑ ๐‹๐ข๐ฆ๐ข๐ญ โ€” ๐๐จ๐ซ๐ญ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐‚๐š๐ง ๐’๐ญ๐ข๐ฅ๐ฅ ๐Œ๐š๐ญ๐ญ๐ž๐ซ

The federal estate and gift tax exemption is $๐Ÿ๐Ÿ“ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ฉ๐ž๐ซ ๐ฉ๐ž๐ซ๐ฌ๐จ๐ง ๐ข๐ง ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”, so itโ€™s easy to assume estate tax planning doesnโ€™t apply to your family.
But when one spouse dies, any unused portion of their exemption may be transferred to the surviving spouse through a ๐ฉ๐จ๐ซ๐ญ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐ž๐ฅ๐ž๐œ๐ญ๐ข๐จ๐ง.

Why consider it when your estate is well below $15 million? A business can grow, investments and real estate can appreciate, inheritances can increase wealth, and tax laws can change.

๐๐จ๐ซ๐ญ๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ ๐ข๐ฌ๐งโ€™๐ญ ๐š๐ฎ๐ญ๐จ๐ฆ๐š๐ญ๐ข๐œ. An estate tax return generally must be filed to preserve the unused exemptionโ€”even when no estate tax is currently due.

When a spouse dies, donโ€™t dismiss an estate tax return simply because the estate is below today's exemption. Preserving portability today could provide valuable flexibility tomorrow.

๐๐ž๐ฒ๐จ๐ง๐ ๐ญ๐ก๐ž ๐๐จ๐ญ๐ญ๐จ๐ฆ ๐‹๐ข๐ง๐ž.

๐ŸŽ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ” ๐†๐ข๐Ÿ๐ญ ๐“๐š๐ฑ ๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐Œ๐š๐๐ž ๐’๐ข๐ฆ๐ฉ๐ฅ๐žThe ๐š๐ง๐ง๐ฎ๐š๐ฅ ๐ ๐ข๐Ÿ๐ญ ๐ญ๐š๐ฑ ๐ž๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง for 2026 remains $๐Ÿ๐Ÿ—,๐ŸŽ๐ŸŽ๐ŸŽ ๐ฉ๐ž๐ซ ๐ฉ๐ž๐ซ๐ฌ๐จ๐ง.What does that mea...
09/24/2026

๐ŸŽ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ” ๐†๐ข๐Ÿ๐ญ ๐“๐š๐ฑ ๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐Œ๐š๐๐ž ๐’๐ข๐ฆ๐ฉ๐ฅ๐ž

The ๐š๐ง๐ง๐ฎ๐š๐ฅ ๐ ๐ข๐Ÿ๐ญ ๐ญ๐š๐ฑ ๐ž๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง for 2026 remains $๐Ÿ๐Ÿ—,๐ŸŽ๐ŸŽ๐ŸŽ ๐ฉ๐ž๐ซ ๐ฉ๐ž๐ซ๐ฌ๐จ๐ง.

What does that mean? You can give up to $๐Ÿ๐Ÿ—,๐ŸŽ๐ŸŽ๐ŸŽ ๐ญ๐จ ๐š๐ฌ ๐ฆ๐š๐ง๐ฒ ๐ข๐ง๐๐ข๐ฏ๐ข๐๐ฎ๐š๐ฅ๐ฌ ๐š๐ฌ ๐ฒ๐จ๐ฎโ€™๐ ๐ฅ๐ข๐ค๐ž this year without:
โ€ข Paying gift tax
โ€ข Using any of your lifetime exemption
โ€ข Filing a gift tax return

For example, gifting $19,000 to three family members allows you to transfer $๐Ÿ“๐Ÿ•,๐ŸŽ๐ŸŽ๐ŸŽ tax-free in 2026.

A few key points:
โœ” Gift recipients do ๐ง๐จ๐ญ pay income tax on the amount received
โœ” Gifts above $19,000 simply require filing ๐…๐จ๐ซ๐ฆ ๐Ÿ•๐ŸŽ๐Ÿ—
โœ” No tax is owed unless you exceed the $๐Ÿ๐Ÿ“ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ฅ๐ข๐Ÿ๐ž๐ญ๐ข๐ฆ๐ž ๐ž๐ฑ๐ž๐ฆ๐ฉ๐ญ๐ข๐จ๐ง
Strategic gifting can be a powerful way to transfer wealth over time while staying within the rules.

sdallp.com

๐Ÿ“Œ ๐ˆ๐ง๐ก๐ž๐ซ๐ข๐ญ๐ž๐ ๐ˆ๐‘๐€ ๐‘๐ฎ๐ฅ๐ž๐ฌ: ๐–๐ก๐š๐ญ ๐๐จ๐ง๐ฌ๐ฉ๐จ๐ฎ๐ฌ๐š๐ฅ ๐๐ž๐ง๐ž๐Ÿ๐ข๐œ๐ข๐š๐ซ๐ข๐ž๐ฌ ๐๐ž๐ž๐ ๐ญ๐จ ๐Š๐ง๐จ๐ฐIf you inherited an IRA from someone who passed away af...
09/22/2026

๐Ÿ“Œ ๐ˆ๐ง๐ก๐ž๐ซ๐ข๐ญ๐ž๐ ๐ˆ๐‘๐€ ๐‘๐ฎ๐ฅ๐ž๐ฌ: ๐–๐ก๐š๐ญ ๐๐จ๐ง๐ฌ๐ฉ๐จ๐ฎ๐ฌ๐š๐ฅ ๐๐ž๐ง๐ž๐Ÿ๐ข๐œ๐ข๐š๐ซ๐ข๐ž๐ฌ ๐๐ž๐ž๐ ๐ญ๐จ ๐Š๐ง๐จ๐ฐ

If you inherited an IRA from someone who passed away after 2019, the ๐Ÿ๐ŸŽ-๐ฒ๐ž๐š๐ซ ๐œ๐ฅ๐ž๐š๐ง๐จ๐ฎ๐ญ ๐ซ๐ฎ๐ฅ๐ž may apply. This means the entire account must be distributed ๐ฐ๐ข๐ญ๐ก๐ข๐ง ๐Ÿ๐ŸŽ ๐ฒ๐ž๐š๐ซ๐ฌ of the original ownerโ€™s death.

However, some beneficiaries are exempt and can use the more flexible โ€œstretchโ€ payout option. These ๐ž๐ฅ๐ข๐ ๐ข๐›๐ฅ๐ž ๐๐ž๐ฌ๐ข๐ ๐ง๐š๐ญ๐ž๐ ๐›๐ž๐ง๐ž๐Ÿ๐ข๐œ๐ข๐š๐ซ๐ข๐ž๐ฌ include:
โ€ข Surviving spouses
โ€ข Minor children (until age 21)
โ€ข Individuals who are disabled or chronically ill
โ€ข Beneficiaries no more than 10 years younger than the decedent

Spouses also have the option to treat the IRA as their own.

The 10-year rule can be complex, and the right choice depends on your situation. If youโ€™ve inherited an IRA, itโ€™s important to speak with your IRA custodian or financial advisor to avoid unexpected taxes.

sdallp.com

๐ŸŽ“ ๐๐จ๐ซ๐ญ๐ก ๐‚๐š๐ซ๐จ๐ฅ๐ข๐ง๐š ๐ˆ๐ฌ ๐ˆ๐ง!Good news for North Carolina taxpayers interested in supporting K-12 education.North Carolina has...
09/17/2026

๐ŸŽ“ ๐๐จ๐ซ๐ญ๐ก ๐‚๐š๐ซ๐จ๐ฅ๐ข๐ง๐š ๐ˆ๐ฌ ๐ˆ๐ง!

Good news for North Carolina taxpayers interested in supporting K-12 education.

North Carolina has ๐จ๐ฉ๐ญ๐ž๐ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ž ๐ง๐ž๐ฐ ๐…๐ž๐๐ž๐ซ๐š๐ฅ ๐’๐œ๐ก๐จ๐ฅ๐š๐ซ๐ฌ๐ก๐ข๐ฉ ๐“๐š๐ฑ ๐‚๐ซ๐ž๐๐ข๐ญ ๐ฉ๐ซ๐จ๐ ๐ซ๐š๐ฆ, making eligible donations to approved Scholarship Granting Organizations (SGOs) potentially eligible for a ๐Ÿ๐ž๐๐ž๐ซ๐š๐ฅ ๐ญ๐š๐ฑ ๐œ๐ซ๐ž๐๐ข๐ญ ๐จ๐Ÿ ๐ฎ๐ฉ ๐ญ๐จ $๐Ÿ,๐Ÿ•๐ŸŽ๐ŸŽ beginning with ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ• ๐ญ๐š๐ฑ ๐ซ๐ž๐ญ๐ฎ๐ซ๐ง๐ฌ.

Here's what to know:
โœ”๏ธ The credit is available for cash donations to IRS-approved SGOs.
โœ”๏ธ There are ๐ง๐จ ๐ข๐ง๐œ๐จ๐ฆ๐ž ๐ฅ๐ข๐ฆ๐ข๐ญ๐ฌ to qualify.
โœ”๏ธ Unused credits may be carried forward for up to five years.
โœ”๏ธ You cannot claim both the federal tax credit and a charitable deduction for the same donation.

The program doesn't begin until 2027, and North Carolina will publish participating Scholarship Granting Organizations before taxpayers can claim the credit.

๐Ÿ’ก If supporting educational opportunities is part of your charitable giving plan, this new credit may be worth discussing with your tax advisor.

sdallp.com

๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐๐ž๐š๐ญ๐ฌ ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ข๐š๐ง๐œ๐ž๐๐ซ๐ž๐ฉ๐š๐ซ๐ข๐ง๐  ๐š ๐“๐š๐ฑ ๐‘๐ž๐ญ๐ฎ๐ซ๐ง ๐‹๐จ๐จ๐ค๐ฌ ๐๐š๐œ๐ค. ๐“๐š๐ฑ ๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐‹๐จ๐จ๐ค๐ฌ ๐…๐จ๐ซ๐ฐ๐š๐ซ๐.Anyone can tell you what happened...
09/15/2026

๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐๐ž๐š๐ญ๐ฌ ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ข๐š๐ง๐œ๐ž

๐๐ซ๐ž๐ฉ๐š๐ซ๐ข๐ง๐  ๐š ๐“๐š๐ฑ ๐‘๐ž๐ญ๐ฎ๐ซ๐ง ๐‹๐จ๐จ๐ค๐ฌ ๐๐š๐œ๐ค. ๐“๐š๐ฑ ๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐‹๐จ๐จ๐ค๐ฌ ๐…๐จ๐ซ๐ฐ๐š๐ซ๐.

Anyone can tell you what happened last year.

The real value comes from helping you make better decisions for next year.

That's why we spend as much time discussing future opportunities as we do preparing returns.

Compliance is required.

Planning creates value.

sdallp.com

๐’๐ž๐ฉ๐ญ๐ž๐ฆ๐›๐ž๐ซ ๐Ÿ๐Ÿ, ๐Ÿ๐ŸŽ๐ŸŽ๐Ÿ โ€” ๐Ÿ๐Ÿ“ ๐˜๐ž๐š๐ซ๐ฌ ๐‹๐š๐ญ๐ž๐ซToday, we remember the lives lost, the families forever changed, the first responders...
09/11/2026

๐’๐ž๐ฉ๐ญ๐ž๐ฆ๐›๐ž๐ซ ๐Ÿ๐Ÿ, ๐Ÿ๐ŸŽ๐ŸŽ๐Ÿ โ€” ๐Ÿ๐Ÿ“ ๐˜๐ž๐š๐ซ๐ฌ ๐‹๐š๐ญ๐ž๐ซ

Today, we remember the lives lost, the families forever changed, the first responders who ran toward danger, and all those whose lives were impacted by the events of September 11, 2001.

๐“๐ฐ๐ž๐ง๐ญ๐ฒ-๐Ÿ๐ข๐ฏ๐ž ๐ฒ๐ž๐š๐ซ๐ฌ ๐ฅ๐š๐ญ๐ž๐ซ, ๐ฐ๐ž ๐ฐ๐ข๐ฅ๐ฅ ๐ง๐ž๐ฏ๐ž๐ซ ๐Ÿ๐จ๐ซ๐ ๐ž๐ญ.
๐Ÿ‡บ๐Ÿ‡ธ

๐Ÿ’ป ๐’๐œ๐š๐ฆ๐ฆ๐ž๐ ๐Ž๐ง๐ฅ๐ข๐ง๐ž? ๐€ ๐“๐š๐ฑ ๐ƒ๐ž๐๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ˆ๐ฌ๐ง'๐ญ ๐€๐ฅ๐ฐ๐š๐ฒ๐ฌ ๐€๐ฏ๐š๐ข๐ฅ๐š๐›๐ฅ๐ž.Victims of internet scams often ask whether their losses are ta...
09/10/2026

๐Ÿ’ป ๐’๐œ๐š๐ฆ๐ฆ๐ž๐ ๐Ž๐ง๐ฅ๐ข๐ง๐ž? ๐€ ๐“๐š๐ฑ ๐ƒ๐ž๐๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ˆ๐ฌ๐ง'๐ญ ๐€๐ฅ๐ฐ๐š๐ฒ๐ฌ ๐€๐ฏ๐š๐ข๐ฅ๐š๐›๐ฅ๐ž.

Victims of internet scams often ask whether their losses are tax deductible. The answer depends on the nature of the scam.

Generally:
โŒ ๐๐ž๐ซ๐ฌ๐จ๐ง๐š๐ฅ ๐ฅ๐จ๐ฌ๐ฌ๐ž๐ฌ, such as romance or kidnapping scams, are ๐ง๐จ๐ญ ๐๐ž๐๐ฎ๐œ๐ญ๐ข๐›๐ฅ๐ž.
โœ”๏ธ Losses connected to an ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ ๐จ๐ซ ๐ฉ๐ซ๐จ๐Ÿ๐ข๐ญ-๐ฌ๐ž๐ž๐ค๐ข๐ง๐  ๐ญ๐ซ๐š๐ง๐ฌ๐š๐œ๐ญ๐ข๐จ๐ง may qualify. This can include certain investment frauds, Ponzi schemes, or scams involving fake investment opportunities.

The IRS evaluates these situations on a case-by-case basis, and the rules can be complex.

๐Ÿ’ก If you've been the victim of a financial scam, don't assume the tax treatment. Speak with your tax advisor to determine whether any deduction may be available.

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3809 Forrestgate Drive
Asheboro, NC
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