Denise H. Lunt, CPA

10/15/2026

🎁 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.

If you expect to claim the standard deduction, you may want to make qualifying charitable gifts before December 31st. Doing so could reduce your taxable income while supporting causes that are important to you. Keep records supporting any deduction claimed. Contact the office with any questions.

Check out our Monthly Newsletter; all this information is available at the following link:

https://www.starcpa.com/newsletter.php

*Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. We would be happy to conduct the required research and provide a detailed written analysis. We may document such an engagement in a separate engagement letter that defines the scope and limits of the desired consultation services.

Take a look at our Newsletter page. Denise H. Lunt, CPA is a full service tax, accounting and business consulting firm located in Guymon, OK.

10/13/2026

💵 Get Ahead of Taxable Benefits 💵

As year-end approaches, businesses have plenty of tax and payroll tasks competing for attention. One easy-to-overlook area is employee and owner benefits. Identifying taxable benefits before the final payroll runs of 2026 can help prevent reporting errors, payroll tax problems, and unexpected Form W-2 adjustments.

Take Stock of Fringe Benefits...

Many fringe benefits are excluded from employees’ taxable income, yet employers generally may still deduct their cost as a business expense. Benefits that don’t qualify for an exclusion usually must be included in employees’ taxable compensation.

Common examples of benefits that may be excluded from taxable wages include employer-provided health insurance, dependent care assistance, group-term life insurance, educational assistance, and certain transportation benefits (but the employer can’t deduct them), subject to various limits.

Taxable fringe benefits may include personal use of a company vehicle, many entertainment and sporting event tickets, gift cards and other cash-equivalent benefits. Generally, the taxable amount is the benefit’s fair market value, less any amount paid by the employee or excludable by law. Special valuation rules may apply.

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.

Don’t Overlook Special Owner Rules...

Fringe-benefit rules can differ for business owners, depending on the entity type and benefit involved. For instance, one particularly important year-end payroll issue applies to S corporation shareholder-employees who own more than 2% of the company. Health and accident insurance premiums paid or reimbursed by the S corporation generally must be included in the shareholder-employee’s Form W-2 wages for federal income tax purposes.

Provided certain requirements are met, the premiums generally aren’t subject to Social Security, Medicare, or federal unemployment taxes. Proper reporting can also affect the shareholder’s ability to claim the self-employed health insurance deduction.

Act Before Year End...

Don’t wait until Forms W-2 are prepared. Failing to account for taxable benefits properly can lead to insufficient federal income and payroll tax withholding, underpaid employer payroll taxes, penalties, and incorrect wage reporting. Contact the office for help reviewing employee and owner benefits and determining the proper tax treatment before year-end.

Check out our Monthly Newsletter; all this information is available at the following link:

https://www.starcpa.com/newsletter.php

*Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. We would be happy to conduct the required research and provide a detailed written analysis. We may document such an engagement in a separate engagement letter that defines the scope and limits of the desired consultation services.

Take a look at our Newsletter page. Denise H. Lunt, CPA is a full service tax, accounting and business consulting firm located in Guymon, OK.

10/08/2026

🗓️ Upcoming Tax Due Dates 🗓️

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.

November 2nd...

Employers: Report Social Security and Medicare taxes and income tax withholding for third quarter 2026 (Form 941) and pay any tax due if all of the associated taxes due weren’t deposited on time and in full.

November 10th...

Individuals: Report October tip income of $20 or more to employers (Form 4070).

Employers: Report Social Security and Medicare taxes and income tax withholding for the third quarter of 2026 (Form 941) if all of the associated taxes due were deposited on time and in full.

Check out our Monthly Newsletter; all this information is available at the following link:

https://www.starcpa.com/newsletter.php

*Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. We would be happy to conduct the required research and provide a detailed written analysis. We may document such an engagement in a separate engagement letter that defines the scope and limits of the desired consultation services.

Take a look at our Newsletter page. Denise H. Lunt, CPA is a full service tax, accounting and business consulting firm located in Guymon, OK.

10/07/2026

⚠️Scam of the Week⚠️
✅ Invoice Approved, Scam Confirmed ✅

You're at work when an email arrives that appears to come from your CEO or another executive, asking you to pay an invoice. The email includes a forwarded annual subscription invoice with bank transfer instructions and an email conversation between the executive and the vendor. It seems real, so you may be inclined to pay it.

But this email is actually a phishing scam, and both the invoice and the forwarded conversation are fake! Cybercriminals target many organizations with these emails by impersonating both the executive and the vendor. Cybercriminals hope the email and invoice look real enough that you'll pay without stopping to think. But if you make this payment, the money goes to a bank account controlled by the cybercriminals!

Follow these tips to avoid this executive phishing scam:

1. Confirm any payment request with the sender by phone or in person, using contact information you already know is real.
2. Follow your organization's payment approval process for every invoice, no matter who appears to approve it.
3. Report any unexpected email that asks for a large sum of money, no matter who sent it, by following your organization's procedures.

🚨 Always stop and think before you take action! 🚨

This week's scam alert is brought to you by The KnowBe4 Security Team! We take our clients' online safety seriously and want to keep everyone informed about what's going on and what can put them at risk.

Feel free to contact our office with any questions!

10/01/2026

⚠️Scam of the Week⚠️
🎣 Small Fee, Big Catch 🎣

You’re scrolling through your emails, and suddenly you read one that says your package couldn't be delivered because a small customs fee wasn’t paid. The email says you need to pay the fee through a link in the email right away so the package can be delivered. The fee is just a few dollars, so you may be tempted to pay it to get your package.

But this email is actually a phishing scam! If you select the link in the email, you’ll be taken to a website, which will prompt you to enter your name, contact information, credit card details, and other banking information. If you enter your information, cybercriminals can use it to make fraudulent purchases or even sell it to other scammers!

Follow these tips to avoid falling victim to this phishing scam:

1. If you’re expecting a package and haven’t received it, go directly to the package delivery service’s official app or website and use your tracking number.
2. Be wary if a message asks for your credit card number to cover a small delivery fee. Legitimate customs charges don't require that much financial information.
3. Always stop and think before you act! If an email asks for an unexpected payment, that’s a red flag.

🚨 Always stop and think before you take action! 🚨

This week's scam alert is brought to you by The KnowBe4 Security Team! We take our clients' online safety seriously and want to keep everyone informed about what's going on and what can put them at risk.

Feel free to contact our office with any questions!

09/29/2026

⚠️Scam of the Week⚠️
🔒Worth Its Weight in Scams...🔒

Imagine your computer screen suddenly locks up and a pop-up message appears. The alert warns you that cybercriminals have attacked your device and instructs you to call a number right away to connect with law enforcement and resolve the issue. You connect with a helpful official who tells you to grant them remote access so they can fix your computer and catch the hackers. But this supposed official is actually a scammer!

Once you let them into your computer, they quietly capture your financial information. The criminals will then claim that your money is no longer safe in your accounts. They will advise you to withdraw it all and buy physical gold bars instead. They will even send a courier to your house to pick up the gold and take it somewhere for "safekeeping.” But in reality, that courier is just another scammer, and your savings are gone for good!

Follow these tips to avoid falling victim to this scam:

1. Real security software never says your computer is infected and demands you call a number to fix it. Always stop and think before you act.
2. Never give remote access to your computer to someone who contacts you unexpectedly, even if they claim to be an official or a law enforcement agent.
3. No real law enforcement official will ever tell you to withdraw your savings and turn them into gold, cash, or gift cards. If you have questions about your money, call your bank directly or check its official app or website.

🚨Always stop and think before you take action!🚨

This week's scam alert is brought to you by The KnowBe4 Security Team! We take our clients' online safety seriously and want to keep everyone informed about what's going on and what can put them at risk.

Feel free to contact our office with any questions! See less

09/24/2026

When LTC Premiums Provide a Tax Break!

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 the office for more information.

Check out our Monthly Newsletter; all this information is available at the following link:
https://www.starcpa.com/newsletter.php

*Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. We would be happy to do the required research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter defining the scope and limits of the desired consultation services.

Take a look at our Newsletter page. Denise H. Lunt, CPA is a full service tax, accounting and business consulting firm located in Guymon, OK.

09/23/2026

⚠️Scam of the Week⚠️
📊This Chart Doesn't Check Out📊

Imagine opening an email that appears to be from your patient portal, telling you your test results are ready. You select the button in the email and land on a sign-in page that looks just like the real one, so you enter your email address and password. Then a pop-up window appears, stating that an "AI-powered review" found problems with your blood work. To see more, the page says you must complete a quick verification step.

Unfortunately, this email is actually a phishing scam! By signing in, you handed your login details straight to cybercriminals. The "verification" step might ask you to press a key combination, then paste and run a command. If you do, you could install malware on your device as well!

Follow these tips to avoid falling victim to this phishing scam:

1. Open your patient portal through the official app or your healthcare provider's website. Don't select a button in an email about test results.
2. Never press key combinations, paste commands, or download files because a website tells you to. Real patient portals don't work that way.
3. Whichever health service you use, and wherever you live, confirm surprising results by contacting your provider directly through a phone number you know is real.

🚨Always stop and think before you take action!🚨

This week's scam alert is brought to you by the KnowBe4 Security Team! We take our clients' online safety seriously and want to keep everyone informed about what's going on and what can put them at risk.

Feel free to contact our office with any questions!

09/22/2026

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.

Maximize Tax Savings...

HSAs offer valuable tax advantages. Generally, contributions are pre-tax if made through payroll deductions or tax-deductible (without itemizing) if made directly to an HSA you establish yourself. Investment earnings grow tax-deferred, and withdrawals used for qualified medical expenses are tax-free.

If you haven’t reached the 2026 contribution limit, there’s still time before year-end. For 2026, you can contribute up to $4,400 for self-only coverage or $8,750 for family coverage, plus an additional $1,000 catch-up contribution if you’re age 55 or older.

To be eligible to contribute, you generally must be covered by a qualifying high-deductible health plan (HDHP) and not be enrolled in Medicare or covered by certain other health plans. For 2026, an HDHP generally must have a minimum deductible of $1,700 for self-only coverage ($3,400 for family coverage) and maximum annual out-of-pocket expenses of $8,500 ($17,000 for family coverage). Beginning in 2026, HSA eligibility has expanded by generally treating bronze and catastrophic plans as HDHPs.

Think Beyond Medical Expenses...

An HSA can do more than help pay today’s health care costs. If your financial situation allows, consider paying current qualified medical expenses out of pocket and leaving your HSA balance invested. Unused funds carry forward indefinitely and can continue growing on a tax-advantaged basis.

This strategy may also help build additional tax-deferred retirement savings. After age 65, you may withdraw HSA funds for nonmedical expenses without the 20% penalty that generally applies to earlier nonqualified withdrawals, though you’ll owe regular income tax on those distributions. Withdrawals used for qualified medical expenses remain tax-free, so tax-free HSA funds may be used to pay certain Medicare premiums and other eligible health care expenses during retirement.

Don’t Wait...

Now is a good time to review whether you’re making the most of your HSA. Contact the office for assistance!

Check out our Monthly Newsletter; all this information is available at the following link:
https://www.starcpa.com/newsletter.php

*Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. We would be happy to do the required research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter defining the scope and limits of the desired consultation services.

Take a look at our Newsletter page. Denise H. Lunt, CPA is a full service tax, accounting and business consulting firm located in Guymon, OK.

09/18/2026

⚠️Scam of the Week⚠️
The Reply Trap...

A text lights up your phone screen from a number you don't recognize, saying, "Hey, are we still on for dinner tomorrow?" The message is clearly meant for someone else, but it seems ordinary and friendly. Since it feels rude not to respond, you consider sending a quick reply just to let the sender know they've got the wrong person.

But that seemingly harmless text is actually a trap set by cybercriminals! Scammers rely on your reply to mark you as an easy target. Your reply confirms to cybercriminals that your number is active, and then they'll sell it on the dark web to other scammers. Once your phone number appears on one of these dark web lists, you might see more scam texts or calls in the future!

Follow these tips to avoid falling victim to this smishing, or text phishing, scam:

1. If you receive a suspicious text, mark it as spam or junk and block the sender’s number. These actions also help your phone provider flag and block similar messages for other users.
2. Avoid sharing your phone number publicly. The less accessible your number is, the harder it is for cybercriminals to find and target it.
3. You may think replying to these kinds of texts is friendly, but it could mark you as a target for future scams.

🚨Always stop and think before you take action!🚨

This week's scam alert is brought to you by The KnowBe4 Security Team! We take our clients' online safety seriously and want to keep everyone informed about what's going on and what can put them at risk.

Feel free to contact our office with any questions!