Real Tax Inc.

10/23/2026

𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐞 𝐨𝐫 𝐈𝐧𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐭 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐨𝐫? 𝐀 𝟏𝟎𝟗𝟗 𝐃𝐨𝐞𝐬𝐧'𝐭 𝐃𝐞𝐜𝐢𝐝𝐞 𝐈𝐭
Calling someone an independent contractor doesn't necessarily make that person one for federal tax purposes.
The IRS looks at the actual working relationship, including:
• Behavioral control — who controls how the work is performed?
• Financial control — who controls the financial aspects of the work?
• Type of relationship — contracts, benefits, permanency and the nature of the services
There is no single factor that automatically determines worker classification. IRS
Misclassification can create payroll and employment-tax problems, so businesses should address worker classification before simply issuing a W-2 or 1099.
IRS: Independent Contractor or Employee?

10/21/2026

𝐒𝐢𝐝𝐞 𝐇𝐮𝐬𝐭𝐥𝐞 𝐈𝐧𝐜𝐨𝐦𝐞 𝐈𝐬 𝐒𝐭𝐢𝐥𝐥 𝐈𝐧𝐜𝐨𝐦𝐞 — 𝐄𝐯𝐞𝐧 𝐖𝐢𝐭𝐡𝐨𝐮𝐭 𝐚 𝟏𝟎𝟗𝟗

Freelancing after work? Driving for an app? Selling services online? Doing occasional contract work?

Gig-economy income generally must be reported even when it is:

• Part-time or temporary
• Paid in cash or another form
• Not reported to you on a Form 1099

The IRS specifically states that gig income is taxable even if you don't receive an information return. IRS

Keep records of your income and eligible business expenses throughout the year.

A missing 1099 doesn't make taxable income disappear.

IRS Gig Economy Tax Center
https://www.irs.gov/businesses/gig-economy-tax-center

10/19/2026

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬: 𝐓𝐡𝐞 𝟏𝟎𝟗𝟗 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐓𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝 𝐂𝐡𝐚𝐧𝐠𝐞𝐝 𝐟𝐨𝐫 𝟐𝟎𝟐𝟔

This is an important change for businesses that pay independent contractors.

For certain payments made before 2026, the Form 1099-NEC reporting threshold was $600.

For qualifying payments made during 2026, the threshold increased to $2,000. The IRS notes that specific reporting and backup-withholding rules still apply, so the threshold isn't the only factor to consider. IRS

Don't wait until January to start looking for contractor information.

Make sure your vendor records and Forms W-9 are organized before year-end.

IRS: Form 1099 and Information-Return Requirements
https://www.irs.gov/businesses/small-businesses-self-employed/am-i-required-to-file-a-form-1099-or-other-information-return

10/16/2026

𝐃𝐨 𝐘𝐨𝐮 𝐊𝐧𝐨𝐰 𝐭𝐡𝐞 𝟐𝟎𝟐𝟔 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝 𝐃𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧?

The federal standard deduction increased again for tax year 2026.

For returns filed for 2026, the basic standard deduction is:

• $𝟏𝟔,𝟏𝟎𝟎— Single or Married Filing Separately
• $𝟐𝟒,𝟏𝟓𝟎 — Head of Household
•$𝟑𝟐,𝟐𝟎𝟎 — Married Filing Jointly

Additional rules and deductions can apply depending on your circumstances. IRS

Why does this matter before tax season?

Understanding the standard deduction is one part of determining whether itemizing deductions may benefit you and what records may be important to retain.

IRS: 2026 Tax Changes for Individuals and Workers
https://www.irs.gov/newsroom/working-families-tax-cuts-individuals-and-workers

10/14/2026

𝐖𝐨𝐫𝐤𝐢𝐧𝐠 𝐅𝐫𝐨𝐦 𝐇𝐨𝐦𝐞? 𝐓𝐡𝐞 𝐇𝐨𝐦𝐞 𝐎𝐟𝐟𝐢𝐜𝐞 𝐃𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐇𝐚𝐬 𝐑𝐮𝐥𝐞𝐬

Having a desk at home doesn't automatically mean you qualify for a home office deduction.

For many self-employed taxpayers, the space generally must be used regularly and exclusively for business, although special rules apply to certain uses such as daycare and storage.

If you qualify, there are two ways to calculate the deduction. Under the simplified method, the IRS generally allows $5 per square foot, up to 300 square feet. IRS

The important part isn't simply working from home — it's whether your situation meets the tax requirements.

IRS: Simplified Option for Home Office Deduction
https://www.irs.gov/businesses/small-businesses-self-employed/simplified-option-for-home-office-deduction

10/12/2026

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐄𝐱𝐩𝐞𝐧𝐬𝐞 𝐨𝐫 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐄𝐱𝐩𝐞𝐧𝐬𝐞? 𝐊𝐧𝐨𝐰 𝐭𝐡𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞

Using your business account doesn't automatically turn a purchase into a tax deduction.

Generally, a deductible business expense must be ordinary and necessary for your trade or business. Personal, living, and family expenses generally aren't deductible business expenses. Some expenses that have both business and personal use must be properly divided. IRS

Keeping business and personal finances separate can also make bookkeeping easier and your records much cleaner.

Before year-end, review your transactions and make sure personal purchases aren't being recorded as business expenses.

IRS: Income and Expenses for Small Businesses
https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses

10/09/2026

𝐂𝐨𝐮𝐥𝐝 𝐘𝐨𝐮 𝐁𝐞 𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐓𝐨𝐨 𝐌𝐮𝐜𝐡 — 𝐨𝐫 𝐓𝐨𝐨 𝐋𝐢𝐭𝐭𝐥𝐞?

A surprise tax bill isn't something you want to discover when preparing your return.

If your income or family situation changed during 2026, it may be worth checking your federal income tax withholding now.

This can be especially important if you:

• Changed jobs
• Have multiple jobs
• Have self-employment or side income
• Receive investment or rental income
• Experienced another significant financial change

The IRS updated its Tax Withholding Estimator to incorporate several current tax-law changes. IRS

There is still time in the year to review your situation and, when appropriate, adjust your withholding.

IRS Tax Withholding Estimator
https://www.irs.gov/individuals/tax-withholding-estimator

10/07/2026

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬: 𝐈𝐬 𝐘𝐨𝐮𝐫 𝐁𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐔𝐩 𝐭𝐨 𝐃𝐚𝐭𝐞?

If your bookkeeping hasn't been updated in months, waiting until tax season can turn a manageable job into a much bigger one.

Good records help business owners track income and expenses, prepare financial statements, monitor the business, prepare tax returns, and support deductions claimed on those returns. IRS

Before year-end, consider reviewing:

• Bank and credit-card transactions
• Business income
• Business expenses
• Contractor payments
• Payroll records
• Missing receipts and documentation

October is a much better time to find and correct missing information than January or February.

IRS: Business Recordkeeping
https://www.irs.gov/businesses/small-businesses-self-employed/recordkeeping

10/05/2026

𝟐𝟎𝟐𝟔 𝐈𝐬𝐧'𝐭 𝐎𝐯𝐞𝐫 𝐘𝐞𝐭: 𝐍𝐨𝐰 𝐈𝐬 𝐭𝐡𝐞 𝐓𝐢𝐦𝐞 𝐭𝐨 𝐑𝐞𝐯𝐢𝐞𝐰 𝐘𝐨𝐮𝐫 𝐓𝐚𝐱𝐞𝐬

There are still three months left in 2026 — which means there is still time to make certain tax decisions before the year ends.

This is a good time to review:

• Whether enough federal income tax is being withheld from your paycheck
• Whether your business bookkeeping is current
• Your estimated tax payments if you're self-employed
• Retirement contributions and other year-end planning opportunities

The IRS Tax Withholding Estimator was updated for current tax-law changes and can help taxpayers estimate their federal withholding. IRS

Tax preparation looks backward. Tax planning happens before the year is over.

IRS Tax Withholding Estimator

09/29/2026

𝐀𝐫𝐞 𝐘𝐨𝐮 𝐏𝐚𝐲𝐢𝐧𝐠 𝐄𝐧𝐨𝐮𝐠𝐡 𝐓𝐚𝐱 𝐃𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫?

Getting a big tax bill when you file is never a pleasant surprise.

The IRS Tax Withholding Estimator can help employees check whether enough federal income tax is being withheld from their paychecks.

It’s especially worth checking after changes such as:
• Starting a new job
• Getting married or divorced
• Having a child
• A significant change in income
• Starting a second job

A little planning during the year can help prevent surprises at tax time.
𝐀𝐫𝐞 𝐘𝐨𝐮 𝐏𝐚𝐲𝐢𝐧𝐠 𝐄𝐧𝐨𝐮𝐠𝐡 𝐓𝐚𝐱 𝐃𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫?
Real Tax Inc.

Check your W-4 tax withholding with the IRS Tax Withholding Estimator. See how your withholding affects your refund, paycheck or tax due.