Gordon Keeter Nichols CPAs

10/09/2026

Infographic: Your business should follow strong, consistent accounts payable procedures.

10/08/2026

Businesses that want to contribute to 530A (also known as Trump) accounts of their employees’ children can set up a written plan called a Trump Account Contribution Program (TACP). To be excludable from employee gross income, TACP contributions are limited to $2,500 per employee per year (no matter how many eligible children individual employees have). Also, employer contributions count toward the $5,000 annual limit for each 530A account. Employers must follow nondiscrimination rules. In practice, this means contributions for non-highly compensated employees should equal at least 55% of the average contribution for highly compensated employees. Contact us for additional guidance.

10/07/2026

Small business owners may be unsure about the proper tax classification of equipment repairs, facility renovations and replacements of worn building components. As you plan for the end of the 2026 tax year, it’s important to review the rules.

Learn how to distinguish deductible repairs from capital improvements and explore 2026 tax breaks, safe harbors, bonus depreciation and Section 179.

10/06/2026

Professional — and now college — athletes could face unexpected tax bills if they don’t plan carefully. Multistate taxation used to be an issue only for pros. Now that college players earn revenue from profit-sharing and endorsement deals, they may need to worry about the “jock tax,” which many states and cities impose on income earned by athletes playing road games. Also, athletes need to consider their state of domicile before they receive signing bonuses or other large payments. For example, those moving from low-tax to high-tax states may want to negotiate to receive payments before they move. For these (and other) reasons, all paid athletes should get professional tax advice.

10/05/2026

As year-end approaches, your business might want to review opportunities to deduct expenses in light of recent tax law. Most entertainment expenses, for example, remain nondeductible. But you may be able to deduct 50% of qualified business meals. And though qualified business travel costs are still 100% deductible, many commuting-related fringe benefits, such as mass transit passes, aren’t. In addition, employees can’t claim deductions for unreimbursed business expenses. This may make establishing an accountable reimbursement plan valuable for both your business and its employees. Spend a little time now to identify expenses that could yield significant deductions later. Contact us for help.

10/02/2026

Infographic: Primary differences between Health Savings Accounts and Flexible Spending Accounts.

10/01/2026

Payroll tax compliance involves more than calculating paychecks. Learn which areas deserve closer attention and how to respond when something goes wrong.

Payroll mistakes can lead to costly penalties and frustrated employees. Discover key steps to improve payroll accuracy, tax compliance, and error correction.

09/30/2026

Tax identity theft can victimize businesses as well as individuals. Perpetrators might file fraudulent returns using your organization’s employer identification number. Or they may impersonate your executives to steal employee W-2 data and create new, “synthetic” identities to file returns and apply for credit. To help prevent financial losses and the inconvenience of repairing your business’s reputation, safeguard data with robust cybersecurity software, complex passwords and comprehensive employee antifraud training. If you receive an IRS notice saying your return has been rejected, investigate immediately. Or ask for our help.

09/29/2026

Are long-term care (LTC) insurance premiums tax-deductible? It depends. Qualified LTC policies are considered health insurance under federal income tax rules. So if you buy a policy, your premiums are treated as medical expenses for itemized deduction purposes. But your total eligible medical expenses for the year must meet the 7.5% of adjusted gross income threshold before you can start deducting LTC premiums. And there are age limits on how much you can deduct — for example, $500 for individuals age 40 and under and $6,200 for those 70 and over. Other age groups’ 2026 maximums fall between these two. Contact us for more information.

09/28/2026

Taxes can affect the economics of an investment property from the time you buy it through the time you sell it. Find out the potential tax consequences of decisions you make about your involvement in rental activities, improvements to the property, and the timing and structure of a sale.

Learn key tax planning strategies for real estate investors, including rental activity rules, depreciation breaks, Section 1031 exchanges and ways to defer gains.