Squires & Lee PLLC

10/09/2026

10/08/2026

Retirement is far from most teenagers’ minds when they get their first jobs. But those early earnings create a significant tax-advantaged savings opportunity. Even modest IRA contributions now can substantially multiply over time. For example, just $2,000 contributed to an IRA earning 5% annually will grow to nearly $23,000 50 years later. A Roth IRA can be especially powerful because qualified distributions will be tax-free. For 2026, the annual contribution limit for IRAs is the lesser of taxable compensation or $7,500. 2026 contributions can be made until April 15, 2027, but the income to support them must be earned by Dec. 31, 2026. Contact us to discuss tax-smart planning for your teen.

10/07/2026

Employee training should evolve along with your organization’s strategic objectives. Start by identifying skills staff members need now and in the future. Look for gaps that could hinder productivity, growth or adoption of new technologies. Use performance reviews and regular check-ins to learn how employees want or need to develop. As you develop training programs, set clear expectations and measurable objectives so you can evaluate whether your efforts are delivering results. Ultimately, training tied to your strategic plan can strengthen both your workforce and organizational performance. Contact us to discuss the financial implications of current or prospective training investments.

10/06/2026

Occupational fraud perpetrated by owners and senior executives can be particularly costly for businesses because these individuals usually have greater authority to override internal controls. To reduce fraud risk, familiarize yourself with the three sides of the “fraud triangle”: pressure, opportunity and rationalization. These factors generally enable fraud. Also establish strong controls and policies that prevent owners and executives from overriding them. And offer an anonymous tipline or web portal so that workers can report suspicions without fear of retribution. Contact us for help assessing controls and investigating incidents.

10/01/2026

Watch out for the growing reach of the 3.8% net investment income tax (NIIT). The income thresholds haven’t changed since the tax took effect in 2013, so it’s hitting more taxpayers. If you have net investment income (NII) and your 2026 modified adjusted gross income (MAGI) exceeds $200,000 ($250,000 if you’re married and file jointly, half that if you file separately), you’ll be subject to the NIIT on the lesser of your NII or the amount by which your MAGI exceeds the applicable threshold. Some NII examples are taxable interest, dividends, and gains from stocks, bonds and mutual funds. Year-end planning may help reduce your MAGI or NII — and the NIIT’s impact. Contact us to learn more.

09/30/2026

Individual Coverage Health Reimbursement Arrangements (ICHRAs) are drawing interest from many employers. Under an ICHRA, participants buy their own health insurance and the employer-sponsor reimburses them up to a specified amount for qualifying coverage premiums (and sometimes other expenses). One recent survey found strong employer interest but limited implementation, reflecting concerns about individual-market premiums, out-of-pocket costs, provider networks, administration and compliance. Although ICHRAs can support cost control and reduce administrative burdens, they aren’t right for every organization. Contact us to evaluate the potential advantages and risks.

09/29/2026

Which of your small business’s expenses are deductible? Even with a tax advisor, it’s worth knowing because daily decisions can significantly reduce taxable income before year end. Deductible business expenses must be ordinary and necessary, but they don’t need to be indispensable. Business travel costs are typically deductible in the current year, but buildings, equipment and other capital assets generally must be deducted over time. Personal expenses aren’t deductible, but mixed-use ones could be if you can support your cost allocation. Rules vary on meal, entertainment, gift and vehicle expenses. Contact us for help claiming every available tax deduction.

09/25/2026

Employers: Have you considered housing as an employee benefit? For some organizations, this can be a key recruiting and retention tool. Generally, it’s offered through either employer-provided lodging or a housing allowance. The tax treatment differs significantly. Qualifying employer-provided lodging may be excluded from an employee’s taxable income if it meets specific IRS requirements. Meanwhile, allowances — cash payments to cover eligible housing expenses — are typically treated as taxable compensation. Employers may often deduct the costs associated with either approach, but proper documentation is essential. Contact us to explore this strategy further.