Finnegan Tax & Accounting

10/08/2026

🐾💤 Some of us are handling tax season better than others…

With the October 15th tax extension deadline quickly approaching, things are getting busy here at Finnegan Tax & Accounting!

Well… for most of us. 😂

Prudence has decided that supervising from a horizontal position is the most efficient use of her time. And apparently, her stuffed lammy agrees. 🐑❤️

Meanwhile, the rest of us are hard at work getting those last-minute returns across the finish line!

📅 October 15th is almost here! If you filed an extension and still have documents to submit, now’s the time!

📞 816-284-6233

🐾 Prudence would answer the phone, but she’s currently unavailable.

10/07/2026

🎁 That employee “perk” might actually be taxable.
As we head toward the end of 2026, now is a good time for business owners to review any benefits or extras provided to employees during the year.
Things like gift cards, personal use of a company vehicle, certain event tickets, and other perks may need to be reported as taxable income on an employee’s W-2.
And S-Corp owners — this applies to you, too! Health insurance paid by the business for shareholders who own more than 2% has special W-2 reporting rules that are easy to overlook.
The important part? Don’t wait until W-2s are being prepared in January to figure it out.
A quick year-end review now can help avoid corrected W-2s, payroll tax issues, and surprises later.
📞 Not sure whether something your business paid for needs to be reported? Give Finnegan Tax & Accounting a call at 816-284-6233 and we’ll help you sort it out.

08/12/2026

💼 Looking for funding to grow your business? Choose the right financing—not just the fastest option.

Whether you're expanding your business, purchasing equipment, buying a building, or simply managing cash flow, there are several financing options to consider.

Some of the most common include:
💳 Business Lines of Credit – Great for managing short-term cash flow needs.
🏦 Term Loans – Ideal for larger investments like equipment or expansion.
🏢 Commercial Mortgages – For purchasing office, retail, or industrial property.
🤝 SBA Loans – Government-backed financing that may offer favorable terms for qualifying businesses.
⚙️ Equipment Leasing – A smart option for technology or equipment that may need frequent upgrades.

Remember, the right financing isn't just about getting approved—it's about finding the solution that supports your long-term business goals. Plus, some financing options may offer valuable tax benefits.

Before you borrow, let's talk. Finnegan Tax & Accounting can help you evaluate your options, understand the tax implications, and make informed financial decisions for your business.

📞 Reach out today—we're here to help your business grow with confidence.

08/06/2026

📅 October 15th is approaching!

If you filed a tax extension, this is your reminder that your return is due by October 15th.

A tax extension gives you more time to file—not more time to pay. If you owed taxes, interest and penalties may still apply to any unpaid balance.

If you haven't submitted your tax documents yet, now is the time! The sooner we receive everything, the more time we have to prepare an accurate return before the deadline.

📂 Still need to send us your documents? Don't wait until the last minute!

📞 Have questions about your extension or what you still need to provide? Give Finnegan Tax & Accounting a call—we're here to help.

08/05/2026

👶💰 There's a new way to save for your child's future!

A new tax-advantaged savings account—known as a Section 530A Account (sometimes called a "Trump Account")—is now available to help families build long-term savings for children.

Here's what you should know:

✅ Children under age 18 with a Social Security number may be eligible for an account.
✅ Eligible children born between January 1, 2025, and December 31, 2028 may qualify for a $1,000 government-funded contribution.
✅ Family members can contribute up to $5,000 per year (combined annual limit).
✅ Earnings grow tax-deferred, helping your child's savings grow over time.

Before opening a new account, it's important to consider your family's goals. If you're primarily saving for college, a 529 Plan may still be the better option. Every family's financial situation is different, and choosing the right savings strategy today can make a big difference tomorrow.

Have questions about whether a Section 530A Account or another savings option is right for your family? Finnegan Tax & Accounting is here to help you understand your options and make an informed decision.

📞 Reach out to our office—we're happy to help!

07/29/2026

📣 Business Owners: Don't overlook backup withholding.

When paying independent contractors, you typically don't withhold federal taxes—but there are exceptions.

🚨 Backup withholding may be required if a contractor:
• Doesn't provide a valid Taxpayer Identification Number (TIN)
• Doesn't properly complete Form W-9
• Is otherwise subject to IRS backup withholding requirements

If backup withholding applies, you'll generally need to:
✔️ Withhold 24% from payments
✔️ Remit those funds to the IRS
✔️ Report the withholding on the appropriate tax forms

It may seem like a small detail, but handling contractor payments incorrectly can lead to headaches down the road.

If you're unsure whether backup withholding applies to your business, Finnegan Tax & Accounting is here to help you stay compliant and avoid costly mistakes.

📞 Have questions? Reach out—we're happy to help.

07/22/2026

🎉🐾 Happy 12th Gotcha Day to our Office Dog in Charge, Prudence! 🐾🎉

Twelve years ago, one very special girl found her way into our lives—and we truly can't imagine Finnegan Tax & Accounting without her.

Whether she's greeting clients at the door, supervising tax returns from her favorite Lambchop bed, accepting well-deserved treats, or reminding us to take the occasional break, Prudence has become an important part of our office family.

Let's be honest... for many of our clients, she's the real reason they stop by the office. ❤️

Thank you for 12 years of tail wags, unconditional love, and being the best coworker anyone could ask for. We hope your day is filled with extra treats, naps, and all the attention your little heart desires.

Happy Gotcha Day, Prudence! 🦴🎂🐶

Drop a ❤️ in the comments to help us celebrate our favorite Office Dog in Charge!

07/21/2026

💼 Thinking about offering a retirement plan for your employees? It may be easier than you think.

Many small business owners assume retirement plans are too expensive or complicated—but options like SEP IRAs and SIMPLE IRAs are designed specifically for small businesses.

Benefits include:
✅ Tax-deductible employer contributions
✅ Helping attract and retain great employees
✅ Less paperwork than many traditional 401(k) plans
✅ Flexible options depending on your business size and goals

Every business is different, and choosing the right retirement plan can make a big difference for both you and your team.

If you're wondering which option makes the most sense for your business, we're happy to help you evaluate your choices.

07/15/2026

We 🫶 Englewood Arts District and the WestiNd Connection.

We are so grateful for our friends at Finnegan Tax & Accounting
for sponsoring our native flower bed!
Stop by and check out the Finnegan Tax Native Flower Bed!
(The plaque was made from a piece of wood that came from the garden property.)

07/14/2026

🏖️ Thinking about renting out your vacation home? Don't forget about the tax implications!

Whether you're listing your lake house, beach condo, or cabin for a little extra income, how many days you rent it matters.

📅 Rent it for 14 days or less?
In many cases, that rental income isn't taxable.

📅 Rent it for more than 14 days?
You'll generally need to report the rental income—but you may also qualify to deduct a portion of expenses like:
✔️ Utilities
✔️ Insurance
✔️ Maintenance
✔️ Property taxes
✔️ Mortgage interest
✔️ Depreciation

The catch? The amount you can deduct depends on how much you use the home personally versus how much it's rented, and the rules can get complicated quickly.

If you're planning to rent your vacation property—or already have—it's worth making sure you're taking advantage of every deduction you're entitled to while staying compliant with IRS rules.