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Jones & Fry CPA

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Jones & Fry CPA

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Since its inception in 1949, our accounting firm has served this community with a combination of pro

10/13/2026

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.

10/12/2026

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax obligation and assessing whether estimated payments made throughout the year are sufficient. You may need to adjust your fourth payment to potentially avoid (or minimize) underpayment penalties.

Also consider tax-reduction strategies, such as timing revenue and expenses, taking advantage of the qualified business income deduction, contributing to a retirement plan and leveraging first-year depreciation write-offs for eligible asset purchases.

These moves require careful coordination, so contact us to explore your options. We can help develop a plan tailored to your situation.

10/09/2026

AI can help your business meet high customer service expectations without overburdening employees. It’s particularly effective for routine tasks. These include answering customers’ basic questions anytime on your website or social media accounts. AI can also help analyze and route customer requests to the right employees, and work behind the scenes to give staffers context and suggest next steps. Of course, AI is only as effective as how it’s trained and used. Your business should regularly test its systems, restrict access to confidential data and establish escalation rules. We can help calculate possible savings and recommend affordable solutions.

10/08/2026

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.

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

The “one-rollover-per-year” rule limits retirement account holders to one indirect IRA-to-IRA rollover within a 12-month period. “Indirect” means you withdraw funds from one IRA and deposit them yourself in the same or another IRA within 60 days. If you attempt a second indirect rollover during the one-year period, the portion not previously taxed will be treated as a taxable distribution. And if you’re under age 59½, a 10% penalty generally will apply (with exceptions). What’s more, a second rollover may be treated as an excess IRA contribution subject to a 6% annual tax. But the rollover rule doesn’t apply to rollovers from traditional IRAs to Roth IRAs. Contact us for details.

10/05/2026

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper preparation, detailed records and professional guidance, you can make the process far less stressful.

Some returns may be selected randomly, but the IRS also has some audit hot buttons. Examples include significant differences between current and prior-year returns, repeated business losses, profit margins and expenses that differ substantially from similar businesses, and mathematical errors.

If you receive an IRS notice, don’t panic; contact us immediately. We can help you understand the issues, gather the needed documents and respond to the inquiries effectively.

10/02/2026

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.

10/01/2026

Thinking about selling a valuable coin, antique or piece of art? The tax bill may surprise you. Collectibles are subject to special rules. If you’ve held a collectible for more than one year, your gain may be taxed at 28%. But if your ordinary-income tax rate is lower (10%, 12%, 22% or 24%), that lower rate applies. By comparison, most long-term stock and mutual fund gains are taxed at 0%, 15% or 20%, depending on taxable income. If you’ve held the collectible for one year or less, any gain is short-term and taxed at your ordinary-income rate (maximum of 37%). The 3.8% net investment income tax may also apply. Before selling a collectible, contact us to discuss the tax implications.

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.

Address

300 W Main Street
Greenville, OH
45331

Opening Hours

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

Telephone

(937) 548-3106

Website

http://www.frycpas.com/

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