Wharton CPA, PLLC

10/22/2026

If you earn tips, November 10 is an important deadline to know—missing it could affect your tax withholding later. Our latest update breaks down what to report, how to report it, and what happens if your paycheck isn’t enough to cover the taxes. Read now to stay ahead!

As we head into the holiday season, November brings a few essential tax deadlines and reporting obligations to keep on your radar. Whether you are working with us locally in North Idaho or remotely across the country, staying ahead of these due dates is the best way to keep your financial life stres...

10/22/2026

Small businesses can now turn paid family leave into a smart tax strategy. Starting in 2026, IRC Section 45S becomes permanent—offering a valuable credit for employers who support their teams with paid leave. Curious how it works and what you can claim? Read now to see if your business qualifies.

Attracting and retaining top talent often requires offering competitive benefits, but funding paid family and medical leave can place a heavy burden on a small business's cash flow. Fortunately, the federal Paid Family and Medical Leave (PFML) credit under Internal Revenue Code Section 45S provides....

10/21/2026

EBITDA is important—but it doesn’t tell the whole story. Two businesses can have the same earnings and completely different risks, cash flow, and sale value. Curious what buyers and lenders really look at? Check it out and see how to strengthen your financial story before you sell or finance.

Revenue is strong. The company is profitable. And perhaps your accountant, banker, business broker, or advisor has started talking about a number you are hearing more and more:

10/20/2026

Think your loan interest is deductible just because it’s secured by your home? Not always. What really matters is how the money is spent. From HELOCs to refinances, the tax outcome can change fast. Read now to find out what counts—and what doesn’t.

Interest deduction rules frequently cause confusion because tax deductibility depends far less on how a lender labels a loan and far more on how the borrowed money is actually spent. Under tax law, interest expense is tracked directly to the underlying use of the loan proceeds. The tax treatment of....

10/19/2026

Could a new federal film tax credit bring production jobs back to the U.S.? 🎬 The proposed bill could offer 20%–30% in credits for qualifying domestic labor costs—possibly changing where movies and TV shows are made. Read now to see who qualifies and why it matters for local businesses.

Hollywood has spent years watching film and television projects move overseas to take advantage of lucrative foreign tax incentives. In response, a bipartisan group of lawmakers in Washington is proposing a federal tax break to keep production activities and dollars within the United States.

10/19/2026

Separation or divorce can change your tax picture faster than you think — but did you know the IRS may still consider you married until the final decree is signed? Learn what that means for your filing status and how to stay ahead of tax surprises. Read now and protect your next return.

Going through a separation or divorce brings a massive wave of changes to your life, and your tax situation is no exception. When your relationship status changes, how you approach your taxes must adjust as well.

10/19/2026

If you are going through a divorce or recently went through one, watch this video for potential changes to your tax situation.

10/16/2026

Could your car loan interest save you money at tax time? 🚗💡 A new federal deduction may let qualifying taxpayers write off up to $10,000 a year—but only if the loan, vehicle, use, and income rules line up. Find out what qualifies before you file. Read now.

And for years, the interest included in those payments generally did not create a federal income tax deduction when the vehicle was used personally.

10/15/2026

Thinking about buying a business? The numbers can be more complicated than they look. Revenue, SDE, add-backs, customer concentration, and hidden liabilities can completely change the deal. Before you make an offer, know what you’re really buying. Read now to make a smarter acquisition decision.

For a growing number of buyers, the opportunity is to acquire a business that already has customers, employees, systems, revenue, and cash flow.

10/15/2026

Want to reimburse employees for business expenses without turning it into taxable wages? An accountable plan can help your business stay compliant, protect deductions, and keep reimbursements tax-free when done right. Find out what the IRS requires before your policy falls short. Read now.

An accountable plan is one of the simplest ways for a business to reimburse employees for legitimate business expenses without turning those reimbursements into taxable wages. When the plan is set up and administered correctly, the business can reimburse ordinary and necessary expenses, the employee...