Professional Tax Solutions

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Professional Tax Solutions Tax Preparation All types of Income Tax Preparation, Payroll, Year End Reporting, Accounting, and Quickbooks assistance.

Educators Have New Options to Deduct 2026 Classroom Expenses – Did You Know?If you work as a K–12 teacher, instructor, c...
10/19/2026

Educators Have New Options to Deduct 2026 Classroom Expenses – Did You Know?

If you work as a K–12 teacher, instructor, counselor, principal or aide for at least 900 hours during the school year at a qualifying school, you may be able to deduct qualifying unreimbursed classroom expenses on your tax return.

For 2026, eligible educators may deduct up to $350 of qualifying expenses as an above-the-line deduction without itemizing, or up to $700 for a married couple filing jointly if both qualify, with a limit of $350 each.

Additionally, a new itemized deduction is available beginning in 2026 for educator expenses, with no separate dollar cap. You must itemize deductions to claim this additional deduction. It is also available to interscholastic sports administrators and coaches who meet the K–12 school and 900-hour requirements, and may cover additional expenses.

Eligible educators may claim both deductions, as long as the expenses used to figure each deduction do not overlap. A tax professional can help you determine whether you qualify and which deduction strategy yields the greatest possible tax savings.

Charitable giving can make a meaningful difference—and with thoughtful planning, it may also support your tax strategy.B...
10/15/2026

Charitable giving can make a meaningful difference—and with thoughtful planning, it may also support your tax strategy.

Before making year-end donations, consider keeping clear records, confirming that organizations qualify, and reviewing how contributions may affect your return. Our team at Professional Tax Solutions can help you make informed decisions based on your individual situation.

If you would like to discuss tax-smart charitable giving, contact our Klamath Falls team at (541) 885-2170.

October 15 Filing Extension DeadlinesTaxpayers who timely requested an extension to file their 2025 federal income tax r...
10/12/2026

October 15 Filing Extension Deadlines

Taxpayers who timely requested an extension to file their 2025 federal income tax returns generally must file by Thursday, October 15, 2026. The same deadline generally applies to calendar-year C corporations that received an extension to file their 2025 corporate returns (Form 1120).

In addition, U.S. persons with a financial interest in or signature authority over foreign financial accounts whose combined value exceeded $10,000 at any time during 2025, and who are required to file a Report of Foreign Bank and Financial Accounts (FBAR), generally must file by October 15, 2026. The FBAR extension is automatic; no extension request is necessary.

Knowing whether you need bookkeeping support, accounting guidance, or both can make managing your business finances much...
10/08/2026

Knowing whether you need bookkeeping support, accounting guidance, or both can make managing your business finances much clearer.

At Professional Tax Solutions, we help Klamath Falls businesses understand the difference:

• Bookkeeping focuses on keeping day-to-day financial records accurate and organized.
• Accounting uses those records to provide insight, support tax preparation, and help guide financial decisions.

Swipe to learn how each service can support your business. If you would like personalized guidance, our team is here to help. Call us at (541) 885-2170.

If you requested an extension for your 2025 individual tax return, the final filing deadline is October 15, 2026.An exte...
10/06/2026

If you requested an extension for your 2025 individual tax return, the final filing deadline is October 15, 2026.

An extension provides additional time to file—not additional time to pay any tax due. If a balance remains unpaid, interest and penalties may already be accruing.

As the deadline approaches, keep these important reminders in mind:

🔹 File as soon as possible to help limit additional interest and penalties.
🔹 October 15 is the final deadline; no further extensions are available.
🔹 Review your return carefully for missing documents, accurate income reporting, and eligible deductions before filing.

At Professional Tax Solutions, Inc., we provide personalized tax preparation support for individuals in Klamath Falls and throughout Oregon. If you need help finalizing your return before the deadline, contact our office at (541) 885-2170.

Up to $5,120 of the Adoption Tax Credit Is Refundable for 2026 – Did You Know?The Adoption Tax Credit helps eligible fam...
10/05/2026

Up to $5,120 of the Adoption Tax Credit Is Refundable for 2026 – Did You Know?

The Adoption Tax Credit helps eligible families manage qualified costs such as adoption fees, travel, legal services and home studies. In recent years, the credit was nonrefundable: it could reduce a person's federal income tax, but any unused amount generally had to be carried forward.

Under rules that took effect in 2025, part of the credit is now refundable. For tax year 2026, up to $5,120 per eligible child may be refundable, even if the taxpayer owes no federal income tax. Any unused nonrefundable portion may be carried forward for up to five years, but a carryforward cannot become refundable in a later year.

The Adoption Tax Credit is subject to income limits and other restrictions, and the timing of a claim depends on the circumstances of the adoption. A tax professional can help determine whether you qualify and how much credit you may claim.

If you filed for an extension, the October 15 tax filing deadline is approaching.Now is a good time to gather your incom...
09/30/2026

If you filed for an extension, the October 15 tax filing deadline is approaching.

Now is a good time to gather your income documents, deduction records, and any prior IRS or tax-related correspondence. Having these materials organized can help make the preparation process more efficient.

If you need professional tax preparation support, our team at Professional Tax Solutions is here to help. Contact us at (541) 885-2170.

Enhanced Tax Credit Can Help Cover 2026 Care Costs – Did You Know? (1/2)If you pay for care for your qualifying child un...
09/21/2026

Enhanced Tax Credit Can Help Cover 2026 Care Costs – Did You Know? (1/2)

If you pay for care for your qualifying child under age 13, or for your spouse or other qualifying person who is physically or mentally incapable of self-care and lives with you for more than half the year, then you may qualify for a federal tax credit. The Child and Dependent Care Tax Credit (CDCTC) can help cover care expenses you pay in order to work or seek work. Rule changes that took effect this year have made the CDCTC more valuable for many households.

As in past years, you may use up to $3,000 of eligible expenses to figure the credit for one qualifying person, or up to $6,000 for two or more qualifying persons. However, beginning in 2026, the maximum credit rate increased from 35% to 50% of eligible expenses. The applicable percentage declines as adjusted gross income rises, but many households may qualify for a larger credit than under prior law. The increase can be as much as $900 for taxpayers with two or more qualifying persons.

In general, the CDCTC is available for all filing statuses except married filing separately (MFS). However, MFS filers may qualify if they meet special requirements, including filing separately, maintaining a home for a qualifying person for more than half the year, paying more than half the cost of maintaining the home, and not living with their spouse during the last six months of the year. To claim the credit, you must provide information about both the care recipient and care provider on your tax return. A tax professional can help you determine whether you are eligible for the CDCTC, and if so, help you meet the reporting requirements to claim the largest possible credit.

Quarterly Estimated Tax Payments - ReminderIf you are making quarterly estimated tax payments to the IRS, the due date f...
09/08/2026

Quarterly Estimated Tax Payments - Reminder

If you are making quarterly estimated tax payments to the IRS, the due date for the June 1 - August 31, 2026 payment period is coming up next week on Tuesday, September 15, 2026.

For payments made using IRS Direct Pay, you can make payments until 11:45 p.m. ET on the due date. Debit and credit card payments may also be made online through an IRS-approved payment processor.

Educator Classroom Expense Deduction – Did You Know?Eligible K-12 teachers, instructors, counselors, principals and aide...
09/01/2026

Educator Classroom Expense Deduction – Did You Know?

Eligible K-12 teachers, instructors, counselors, principals and aides who pay for classroom supplies out of pocket may deduct up to $350 of qualifying expenses per year. Married couples filing jointly who are both eligible educators may deduct up to $350 each, for a combined maximum of $700.

You do not need to itemize deductions to claim this deduction. Be sure to keep receipts and other records for any classroom expenses you plan to deduct.

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5624 Delaware Avenue
Klamath Falls, OR
97603

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