Kelly’s Tax Service

10/04/2026

🚨 **TAX TIP: OCTOBER 15 DEADLINE!** 🚨

If you filed an extension for your **2025 individual federal tax return**, your extended filing deadline is **October 15, 2026**. ⏰

📌 Remember: An extension gave you more time to **FILE**, not more time to **PAY**. Any tax originally due was generally due April 15, 2026, and unpaid balances may continue to accrue penalties and interest.

💡 **Don’t wait until the last minute!** Gather your documents and get your return filed before the deadline.

**Kelly’s Tax Service**
Helping you stay prepared, compliant, and ahead of tax deadlines. 💚💛

09/23/2026

💰 **TAX TIP: S-CORP OWNERS — DON’T FORGET PAYROLL!**

If you own an S Corporation and actively work in the business, you generally can’t just take distributions and skip payroll.

✅ Shareholder-employees who perform services must generally receive **reasonable compensation through payroll** before taking non-wage distributions.

That means:
💵 Pay yourself a reasonable salary
🧾 Withhold applicable payroll taxes
📄 File the required payroll tax returns
📬 Issue yourself a W-2
💰 Then take eligible shareholder distributions separately

⚠️ **Important:** There is no automatic “60/40 rule” or fixed IRS percentage for salary versus distributions. Reasonable compensation depends on factors such as your duties, experience, time devoted to the business, and what similar businesses pay for comparable work.

Taking distributions while paying yourself little or no reasonable salary can result in the IRS reclassifying distributions as wages subject to employment taxes.

📌 **Kelly’s Tax Service**
Helping business owners stay compliant and tax-ready.

09/22/2026

09/22/2026

www.kellystaxservices.com

09/06/2026

S-Corp extensions are due September 15th

09/01/2026

08/29/2026

💰 Tax Tip Saturday: Child & Other Dependent Care Credit

Paying someone to care for your **child or another qualifying person** while you work or look for work? You may qualify for the **Child and Dependent Care Credit**.

For 2026, eligible care expenses can generally be up to **$3,000 for one qualifying person** or **$6,000 for two or more**, with the credit percentage depending on income.

**Tax Tip:** Keep your childcare provider’s **name, address, Tax ID/SSN, payment receipts, and records of dates/amounts paid**. You’ll generally need provider information when filing **Form 2441**.

📌 This credit can also apply to care for a **spouse or dependent who is physically or mentally incapable of self-care**, when the requirements are met.

**Kelly’s Tax Service**
*Helping you understand the credits you may deserve.*

08/24/2026

**💰 Tax Tip Monday: LLC vs. S Corporation**

An **LLC** is a legal business structure that helps protect your personal assets. By default, a single-member LLC is generally taxed like a sole proprietorship.

An **S Corporation** is a **tax election**, not a business type. Eligible business owners can elect S Corp taxation, pay themselves a reasonable salary, and potentially reduce self-employment taxes on remaining profits.

📌 **Quick Tip:** An LLC can elect to be taxed as an S Corporation—so you can have **LLC legal protection + S Corp tax treatment**.

💚 **Kelly’s Tax Service**
*Helping you understand your business and your taxes.*

08/17/2026

💰 **MONEY-SAVING MONDAY TAX TIP**

**Don’t wait until tax season to find out you didn’t pay enough taxes!**

Now is a great time for taxpayers to review their **federal withholding and estimated tax payments**. The IRS follows a pay-as-you-go system, so falling behind during the year can potentially lead to an unexpected balance or underpayment penalty.

📌 **Self-employed or have untaxed income?** The next quarterly estimated tax payment is generally due **September 15, 2026**.

💡 **Employee?** Review your latest paystub and consider using the IRS Tax Withholding Estimator to see whether your withholding needs an adjustment.

**A tax checkup today could prevent a tax surprise tomorrow!**

📞 Contact **Kelly’s Tax Service** for your mid-year tax checkup.