VAN DE VEN CPAs + BUSINESS CONSULTANTS

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VAN DE VEN CPAs + BUSINESS CONSULTANTS CPA firm focused on Audit, Tax & Consulting for Individuals & Small/Medium Size Businesses

Harvest a bounty of tax benefits with an ESOP
10/25/2026

Harvest a bounty of tax benefits with an ESOP

The IRS has released Standard Industry Fare Level (SIFL) rates for valuing noncommercial flights on employer-provided ai...
10/24/2026

The IRS has released Standard Industry Fare Level (SIFL) rates for valuing noncommercial flights on employer-provided aircraft from July 1, 2026, through Dec. 31, 2026. The rates, combined with an adjustment based on the aircraft’s weight and employee’s status, are used to calculate the taxable value of certain personal flights provided as employee fringe benefits. The rates are $0.3225 per mile for the first 500 miles, $0.2459 per mile for 501 through 1,500 miles, and $0.2364 per mile for miles exceeding 1,500. A $58.95 terminal charge also applies. The Dept. of Transportation calculates the SIFL rates and terminal charge. They’re reviewed semiannually. Contact us with questions.

Did a lender forgive or discharge some of your debt? You could face an unexpected federal income tax bill. Canceled debt...
10/23/2026

Did a lender forgive or discharge some of your debt? You could face an unexpected federal income tax bill. Canceled debt is generally treated as taxable income, even though you never received any cash. But exceptions and exclusions may apply. For example, debt discharged in bankruptcy or canceled while you’re insolvent may be partially or fully excluded from income. Insolvency generally means your total liabilities exceed the fair market value of your assets. Other exclusions may apply to specific types of debt, such as certain business-related real estate debt. If you receive a Form 1099-C, “Cancellation of Debt,” let us know. We can help determine how the canceled debt affects your taxes.

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s inc...
10/23/2026

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s income — typically 45% to 65% of pre-disability earnings. But in some cases, income taxes can take a bite out of disability benefits.

Taxability usually hinges on who paid the premiums. If your employer paid them, the payouts from the policy generally will be taxed to you just as if the income were paid directly to you by your employer. If you paid the premiums, the payments you receive generally won’t be taxable. State tax treatment of disability benefits varies.

We can help you assess how much disability coverage you need depending on the tax consequences and other factors.

One of the 10 basic rights the IRS guarantees taxpayers is the right to a fair and just tax system. In practice, this me...
10/23/2026

One of the 10 basic rights the IRS guarantees taxpayers is the right to a fair and just tax system. In practice, this means that if you can’t pay your tax bill, you may be able to arrange a payment plan and can request an “offer in compromise” to reduce the debt. The IRS consults cost-of-living guidelines when assessing settlement offers. The agency can’t seize all of your wages to collect unpaid tax. It must leave you with enough to pay living expenses. The IRS is authorized to abate any interest that’s excessive or assessed erroneously, illegally or outside the legal collection period. Contact us for help if you believe the IRS is handling your situation unfairly. We can work with them.

Selling an investment in a taxable account at a loss can help reduce your federal tax bill, but beware of the wash sale ...
10/22/2026

Selling an investment in a taxable account at a loss can help reduce your federal tax bill, but beware of the wash sale rule. If you sell securities at a loss and buy substantially identical securities within 30 days before the loss sale date or 30 days after that date, the IRS generally disallows the loss deduction. However, the loss isn’t necessarily gone forever. It’s typically added to the cost basis of the replacement securities, potentially reducing taxable gains or increasing your tax loss when you sell the replacement securities. Before harvesting investment losses, contact us to discuss strategies for avoiding costly tax surprises.

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptl...
10/22/2026

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptly and strategically.

If you or your business receives a tax notice from the IRS or a state agency, don’t ignore it. Be mindful of the notice’s deadline and work with your tax advisor to prepare supporting documentation and an appropriate response. If you owe back taxes that you can’t pay in full, explore potential relief options, such as a temporary delay in collection due to hardship, an installment agreement or payment plan, or a settlement plan.

We can help you communicate with tax authorities and create a plan to get your business back on track. Contact us to learn more.

The IRS has provided a safe harbor for certain exchange-traded digital asset trusts. Under Rev. Proc. 2026-20, qualifyin...
10/22/2026

The IRS has provided a safe harbor for certain exchange-traded digital asset trusts. Under Rev. Proc. 2026-20, qualifying trusts that hold cash and one type of digital asset on a permissionless proof-of-stake network can earn staking rewards without jeopardizing their status as investment trusts or grantor trusts for federal tax purposes. The safe harbor includes requirements for custodians, staking providers, liquidity management and reward distributions. Existing trusts have six months after Oct. 6, 2026, to comply. For investors, the guidance provides clearer rules for how qualifying trusts can earn and distribute staking rewards. Contact us with questions.

Planning to sell appreciated investments before year end? Don’t overlook the net investment income tax (NIIT). A large c...
10/21/2026

Planning to sell appreciated investments before year end? Don’t overlook the net investment income tax (NIIT). A large capital gain could push your modified adjusted gross income (MAGI) above the NIIT threshold ($200,000 for single filers, $250,000 for married joint filers or $125,000 for married filing separately), potentially increasing your tax bill. The NIIT equals 3.8% of the lesser of net investment income or MAGI above the threshold. Net investment income generally includes taxable interest, dividends, capital gains, rents and royalties. Before selling highly appreciated investments, contact us. We can help assess your potential NIIT liability and discuss ways to limit your exposure.

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, wh...
10/21/2026

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take?

Cash-basis businesses recognize income when received and deduct expenses when paid, providing greater flexibility in the timing of income and deductions. In contrast, accrual-basis businesses recognize income when earned and deduct expenses when incurred, regardless of the timing of cash receipts or payments.

Even if you meet the eligibility requirements, the cash method isn’t right for every business. And switching methods adds administrative costs. Contact us to learn more about each option.

Address

1020 N Kingshighway Suite D
Cape Girardeau, MO
63701

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+15733351231

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