BGHN Associates, P.C.

10/19/2026

New Law Expands Disaster Tax Relief

The Doug LaMalfa Federal Disaster Tax Relief Certainty Act was signed into law in September. It extends expanded personal deductions for disaster-related losses temporarily available under the Federal Disaster Tax Relief Act. Without the relief, victims of a federally declared disaster can deduct personal casualty losses only if they itemize deductions and only to the extent those losses exceeded 10% of their adjusted gross income (AGI).

The now-extended relief allows eligible disaster victims — generally for disasters starting December 28, 2019, through December 31, 2026 — to deduct qualified losses above $500 without itemizing and removes the 10% of AGI threshold for those losses. The law also extends the exclusion of qualified wildfire relief payments from taxable gross income. Contact our office for details!

10/12/2026

Charitable Givers Get a New Tax Break!

Beginning in 2026, taxpayers who take the standard deduction may deduct up to $1,000 of qualifying charitable contributions, or up to $2,000 for married couples filing jointly. Only cash contributions qualify, such as gifts made by check, debit or credit card, payment app or payroll deduction. Contributions of property, such as clothing, household items or securities, don’t qualify.

Check out our website for more information!

Take a look at our Newsletter page. BGHN Associates, PC is a full service tax, accounting and business consulting firm located in Cedar Rapids, IA.

10/07/2026

Last Sunday, BGHN participated in the 36th Annual Especially for You Race Against Breast Cancer! It was a wonderful morning, and we were honored to contribute to a cause that is truly transforming lives. 💕

10/06/2026

Know What's New!

Major legislation enacted in July of 2025 made several changes affecting benefits, including dependent care and educational assistance.

For 2026, the maximum exclusion for employer-provided dependent care assistance increased to $7,500 ($3,750 for married taxpayers filing separately).

The 2025 law also made qualifying student loan payments permanently eligible for the educational assistance exclusion and added inflation adjustments after 2026. For 2026, employers generally can provide up to $5,250 in tax-free educational assistance, including qualifying student loan payments.

Visit our website for more info!

Take a look at our Newsletter page. BGHN Associates, PC is a full service tax, accounting and business consulting firm located in Cedar Rapids, IA.

10/05/2026

Upcoming Tax Due Date: October 15th

Individuals: File a 2025 income tax return (Form 1040 or Form 1040-SR) if an automatic six-month extension was filed (or if an automatic four-month extension was filed by a taxpayer living outside the United States and Puerto Rico). Pay any tax, interest and penalties due.

Individuals: Make contributions for 2025 to certain existing retirement plans or establish and contribute to a SEP for 2025 if an automatic six-month extension was filed.

Individuals: File a 2025 gift tax return (Form 709) and pay any tax, interest and penalties due if an automatic six-month extension was filed.

Calendar-year bankruptcy estates: File a 2025 income tax return (Form 1041) if an automatic six-month extension was filed. Pay any tax, interest and penalties due.

Calendar-year C corporations: File a 2025 income tax return (Form 1120) if an automatic six-month extension was filed. Pay any tax, interest and penalties due.

Calendar-year C corporations: Make contributions for 2025 to certain employer-sponsored retirement plans if an automatic six-month extension was filed.

Employers: Deposit Social Security, Medicare and withheld income taxes for September if the monthly deposit rule applies.

Employers: Deposit nonpayroll withheld income tax for September if the monthly deposit rule applies.

09/28/2026

Ready Your Books for Tax Season

One of the most common bookkeeping mistakes business owners make is mixing business and personal finances. Addressing this issue before year end can simplify tax preparation, improve the accuracy of your financial records and help reduce the risk of IRS questions.

Check out our newsletter for more tips on how to prepare your books for the upcoming tax season!

Take a look at our Newsletter page. BGHN Associates, PC is a full service tax, accounting and business consulting firm located in Cedar Rapids, IA.

09/25/2026

Upcoming Tax Due Date - September 30th

Calendar-year trusts and estates:
File a 2025 income tax return (Form 1041) if an automatic five-and-a-half-month extension was filed. Pay any tax, interest and penalties due.

09/24/2026

BGHN was honored with the opportunity to volunteer at Mission of Hope - Cedar Rapids! We enjoyed preparing and serving walking tacos, sharing smiles, and being part of a community that cares for one another. It was a privilege to give back, and help make a difference together!

09/21/2026

Make the Most of Your HSA Tax Benefits!

If you're eligible to contribute to a Health Savings Account (HSA), consider taking a closer look at your contribution strategy. You may be able to reduce your 2026 taxes while strengthening your long-term financial security. Although many people use HSAs to pay current medical expenses, they can also help fund retirement.

Take a look at our newsletter to learn more!

Take a look at our Newsletter page. BGHN Associates, PC is a full service tax, accounting and business consulting firm located in Cedar Rapids, IA.

09/16/2026

The BGHN office will be closed Wednesday, 9/16/26, 8:00am to 5:00pm for Staff Training Day. Normal business hours will resume on Thursday, 9/17/26.

Thank you!