John A Folan CPA

10/09/2026

10/08/2026

Tax Extension Deadline: October 15! ⏰

If you filed for a tax extension earlier this year, October 15, 2026 is your final deadline to submit your completed return to the IRS.

Here are three quick reminders to keep in mind as the date approaches:

1️⃣ Extension to file ≠ extension to pay: An extension grants extra time to file your paperwork, not to pay any taxes owed. Interest and late-payment penalties continue to accumulate on unpaid balances.

2️⃣ Gather missing documents now: Don’t wait until October 14th to search for missing 1099s, K-1s, or receipts. Having your documents organized now ensures an accurate return.

3️⃣ E-filing is fast and secure: Filing electronically provides instant proof of receipt and ensures faster processing compared to mail.

Need help finalizing your return or making sure you're taking advantage of all eligible deductions? Don't stress—our team is here to help you cross the finish line smoothly!

📞 Call us: [508-971-0018]
💻 Visit our website: [www.FolanCPA.com]
📧 Email us: [[email protected]]
📍 Location: [24 Eric Rd Dartmouth, MA 02747]

#[John A Folan CPA, LLC]

10/08/2026

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New Tax Regulations
The U.S. government sometimes changes tax rules. In 2025–2026, new laws and updates changed how some taxes work. Many of these changes came from a law called the One Big Beautiful Bill Act.
Here are some of the main changes explained simply.
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1. Bigger Standard Deduction
The standard deduction is the amount of money you can subtract from your income before taxes are calculated.
• Single people: about $16,100
• Married couples filing together: about $32,200
This means people may pay taxes on less of their income, which can lower the amount they owe.
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2. New Tax Break for Tips
Workers who earn tips (like restaurant servers or hair stylists) may be able to deduct up to $25,000 in tip income from their taxes.
This rule is planned to last from 2025 to 2028.
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3. New Tax Break for Overtime Pay
People who earn overtime pay can deduct up to $12,500 of that overtime income from their taxes.
This can help workers who work extra hours keep more of their earnings.
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4. New Deduction for Seniors
People age 65 or older may receive an extra tax deduction of up to $6,000.
This helps many seniors lower their taxable income.
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5. Child Tax Credit Increase
Families with children can receive a tax credit of about $2,200 per child.
A tax credit directly lowers the amount of taxes owed.
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6. Car Loan Interest Deduction
If someone buys a new car made in the U.S., they may deduct up to $10,000 of car loan interest from their taxes.
This rule is also temporary (2025–2028).
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7. Higher Limit for State and Local Tax Deductions
People who pay state or local taxes can deduct up to $40,000 instead of the previous $10,000 limit.
This mostly helps people who live in states with higher taxes.
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✅ In simple terms:
Many of the new tax rules try to lower taxes for certain groups, such as workers with tips, seniors, and families with children.
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John A Folan, CPA LLC
24 Eric Rd Dartmouth, MA 02747
508-971-0018
www.FolanCPA.com
[email protected]

John A. Folan offers expert accounting, bookkeeping & tax services including tax planning & preparation for individuals & small businesses on the Southcoast.

05/24/2026

Hey there! Ever wonder how our communities get the money to build cool parks, keep our schools running, and fix those annoying potholes in the road?
It all comes from something called taxes, and as an accountant, I’m kind of like a financial detective who helps people figure them out!
Think of taxes like a group subscription fee for living in a town or country. Here is a quick breakdown of how it works:
The Three Main Types of Taxes 🏛️
Income Tax: When you get an older-sibling job (like babysitting, mowing lawns, or eventually a career), the government takes a small percentage of the money you earn to help pay for big public things, like the military or space exploration.
Sales Tax: Notice how a $1.00 candy bar sometimes costs $1.07 at the register? That extra 7 cents is sales tax, which goes straight to your local government.
Property Tax: People who own houses or buildings pay a yearly tax based on how much their property is worth. This money usually goes directly to funding your local schools and paying firemen and police officers.
What Does an Accountant Actually Do? 🧮
A lot of people think accounting is just doing hard math all day. Honestly? Calculators do the heavy lifting! My actual job is more like solving a puzzle.
I help regular people and businesses look at their spending, follow the law, and make sure they don't pay more than their fair share. It’s like helping a friend find all the hidden cheat codes in a video game, but for their wallet!
Fun Fact: The income tax wasn't always around in the U.S. It was officially created in 1913 with the 16th Amendment. Before that, the government made most of its money from taxes on things brought in from other countries!
Got any questions about how money works behind the scenes? Drop them in the comments!