QTax, LLC

10/09/2026

Tax Tip of the Week 4-46.

You may have received—or may soon receive—a federal rebate payment: $500 for certain eligible HealthCare.gov enrollees or $90 for certain Medicare Part B enrollees.

First, these rebate programs are legitimate. If you receive an authentic payment, go ahead and cash or deposit it.

Second, keep the accompanying letter and all related documentation for tax time. The tax treatment may depend on your circumstances, including whether you deducted the related health insurance premiums. We’ll watch for guidance specific to these payments.

If you’re bored—or need help falling asleep—check out §213 and §162(l) of the Internal Revenue Code.

We speak and read tax, so you don’t have to.

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10/03/2026

💡 Tax Tip of the Week 4-43
Caring for family? Know the tax rules.

🥪 Many people in the “Sandwich Generation” are caring for aging parents while also supporting their children. If you pay for care—or receive payment for providing it—special tax rules may apply.

🏠 Paying a caregiver?
You may be a household employer, depending on who controls the work and how it’s done. That can mean payroll responsibilities and Form W-2 reporting.

Certain wages are generally exempt from Social Security and Medicare taxes when paid to:

• Your spouse
• Your child under age 21
• Your parent, with certain exceptions
• Someone under age 18 at any time during the year, unless household work is their principal occupation

These exceptions don’t automatically eliminate every tax or reporting obligation.

🤝 Getting paid to provide care?
Independent caregivers operating a business generally owe self-employment tax. Some family caregivers who aren’t employees may be exempt, depending on their circumstances.

Before you pay or accept compensation, talk with your friendly neighborhood tax professional. A little guidance can help you understand your responsibilities.

💬 We speak tax so you don’t have to.

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10/01/2026

09/24/2026

Tax Tip of the Week 4-43

🚨 DISASTERS HAPPEN — COULD YOU RECONSTRUCT YOUR RECORDS?

Having a disaster plan is important, but that plan should include more than protecting your property. Think about how you would reconstruct important financial and tax records if the originals were lost or destroyed.

📄 TAX RECORDS
W-2s, 1099s and other tax information may be available through your IRS Individual Online Account. Having your account established before you need it can make accessing tax information much easier.

🏦 BANK & FINANCIAL RECORDS
Bank statements, credit card statements and other financial records can generally be requested from your bank, credit card company or other financial institution.

🏠 PERSONAL PROPERTY RECORDS
Photos, videos, receipts and other documentation can help establish the existence and value of damaged or lost property. Consider periodically taking photos or video of your home and valuable possessions and storing copies somewhere safe.

🏡 REAL PROPERTY RECORDS
If records relating to your home or other real estate are lost, you may be able to reconstruct them by contacting the title or escrow company. Contractors may be able to help document renovations and additions. For inherited property, probate and estate records may also be useful.

💾 BACK UP YOUR DATA
One backup may not be enough. Keep multiple backups, with at least one offsite or securely in the cloud.

━━━━━━━━━━━━━━━━━━

✅ QUICK RECORDKEEPING CHECKLIST

Keep copies of your:

☐ 📑 Tax records — returns, W-2s & 1099s
☐ 🏦 Financial records — bank & credit card statements
☐ 🏡 Property records — closing documents & improvement receipts
☐ 📸 Personal property records — photos, videos & major receipts
☐ 🛡️ Insurance & estate records
☐ 💼 Important business records

━━━━━━━━━━━━━━━━━━

💡 DON'T KEEP EVERYTHING IN ONE PLACE!

A backup sitting next to your computer may not do much good if the same fire, flood or other disaster destroys both.

Think 3-2-1:

3️⃣ Keep 3 copies of important data
2️⃣ Use 2 different types of storage
1️⃣ Keep at least 1 copy offsite or in the cloud

📅 Review your records and backups periodically. Make sure they are current — and, just as importantly, make sure you can actually access them.

And remember, your Tax Pro can help you reconstruct the tax side of the puzzle.

Planning ahead today can make recovering from a disaster a little less overwhelming tomorrow.

We speak and read tax so you don't have to.

09/19/2026

🔐 Tax Tip of the Week 4-42

Identity Protection PINs Help Protect Against Tax-Related Identity Theft

One of the best ways taxpayers can protect themselves from tax-related identity theft is by obtaining an Identity Protection Personal Identification Number (IP PIN).

An IP PIN is a unique six-digit number known only to you and the IRS. It helps prevent someone else from filing a federal income tax return using your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN).

A few things to know about IP PINs:

• Anyone with an SSN or ITIN who can verify their identity can request a free IP PIN, including taxpayers living abroad.
• An IP PIN helps verify your identity when you file your federal tax return and can protect your account even if you aren't required to file a return.
• Tax professionals cannot request an IP PIN for a client. The taxpayer must obtain it and provide it to the tax professional when it is time to prepare and file the return.
• A new IP PIN is issued each year.
• If you obtain your IP PIN online, you'll need to retrieve the new number annually.
• Your current IP PIN must be used on federal income tax returns filed during that calendar year, including prior-year and amended returns.
• The IRS will never call, email, text or contact you through social media asking for your IP PIN.

How do you get one?

1️⃣ IRS Individual Online Account — Fastest and easiest

Sign in to your IRS Individual Online Account and select the IP PIN option under your profile.

2️⃣ Form 15227

If you cannot verify your identity online and the adjusted gross income on your last filed return was below $84,000 for an individual or $168,000 for Married Filing Jointly, you may be able to apply using Form 15227.

3️⃣ Visit an IRS Taxpayer Assistance Center

If you cannot verify your identity online or are not eligible to use Form 15227, you can make an appointment at a nearby IRS Taxpayer Assistance Center.

⚠️ Why do I recommend getting an IP PIN?

If you don't have an IP PIN and someone successfully files a fraudulent tax return using your SSN before you file, you may discover the problem when your electronically filed return is rejected.

Then you have an identity-theft mess to straighten out with the IRS.

How big a mess?

The National Taxpayer Advocate reported that the average time to close an Identity Theft Victim Assistance case was 600 days during fiscal year 2026.

That's about 20 months.

Getting an IP PIN takes a little time.

Correcting tax-related identity theft can take considerably longer.

👉 If you have an IP PIN, remember that you receive a new one each year. Please provide the current year's IP PIN to your Tax Professional when you provide your tax documents.

We speak & read tax so you don't have to.

If you can't solve your tax issues online, you can find your local IRS Tax Assistance Center (TAC), services offered, office hours and how to schedule an appointment.

08/27/2026

Tax Tip of the Week 4-41

Charitable Deductions — What Changes in 2026? 💵❤️

If you have made—or plan to make—charitable donations this year, keep good records. Organized documentation makes tax preparation easier and helps support your deduction if the IRS ever asks.

A BIG change for 2026:
In the past, you generally needed to itemize deductions on Schedule A to receive a federal tax benefit for charitable contributions.

Starting in 2026, even if you don't itemize, you may be able to deduct qualified CASH contributions of up to:

💵 $1,000 — Single filers
💵 $2,000 — Married Filing Jointly

A few things to remember:

Know what qualifies. Contributions generally must be made to a qualified charitable organization.
Keep proof of all cash donations. Bank records, credit card statements, receipts, or other appropriate documentation can be important.
Contributions of $250 or more generally require a written acknowledgment from the charity.
Non-cash donations have additional recordkeeping rules. Larger non-cash contributions may require a qualified appraisal and additional tax forms.

📁 When in doubt, document it. It's much easier to keep the records now than try to recreate them at tax time.

And, of course, contact your Tax Pro when you have questions.

We know things. 😎

Tax Tip of the Week is for general informational purposes and is not intended as individual tax advice.

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08/19/2026

Tax Tip of the Week 4-40

Remember all the BOI reporting confusion? Here’s an important follow-up.

For those of you with small businesses who were going a little nutty last year trying to file—or actually filing—the Beneficial Ownership Information (BOI) Report, only to find out the requirement was placed on hold, we finally have some closure.

On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information under the Corporate Transparency Act.

That answered one question, but when I read the announcement last week, I immediately had another:

What happens to all the data that U.S. companies already submitted on their BOI reports?

A tax colleague pointed me to the FAQs accompanying the final rule. FAQ #4 addresses exactly that question.

FinCEN says it is implementing a process to delete previously submitted information about company applicants, beneficial owners, and FinCEN ID recipients that it reasonably believes was provided by a U.S. person.

So, if you spent time last year gathering information, figuring out the rules, and filing a BOI report, at least we now know what FinCEN plans to do with that information.

Bottom line: BOI reporting for U.S. companies and U.S. persons is over, and FinCEN is working on deleting previously submitted information from U.S. persons.

FinCEN Final Rule Announcement:
https://www.fincen.gov/news/news-releases/fincen-permanently-ends-beneficial-ownership-reporting-requirements-millions

FinCEN Final Rule Questions & Answers — see FAQ #4:
https://www.fincen.gov/system/files/2026-08/QAs_BOIFinalRule.pdf

As always, if you have questions about how this applies to your business, talk with your tax or legal professional.

QTax, LLC
We speak tax so you don't have to.

08/14/2026

💰 Tax Tip of the Week 4-39

Life Happens — and It May Affect Your Taxes

💍 Marriage

“Marriage is a wonderful institution...but who wants to live in an institution?” — Groucho Marx

Marriage can change your filing status, withholding, deductions, credits, and other parts of your tax situation.

👶 Birth or Adoption of a Child
A new family member can mean new tax benefits, including potential credits and changes to your withholding.

💔 Divorce or Legal Separation
Divorce can affect filing status, dependents, credits, withholding, and the tax treatment of certain assets.

🕊️ Death of a Spouse or Family Member
The loss of a loved one can bring tax issues involving filing status, inherited assets, retirement accounts, and final tax returns.

📌 The Bottom Line

Major life events often come with tax consequences. Don't wait until tax season to find out what changed.

When life happens, contact your Tax Pro. A quick conversation can help determine whether you need to adjust your withholding, update personal information, change estimated tax payments, or take other steps.

Life changes. Your tax situation may need to change with it.

We speak Tax so you don't have to.

Send a message to learn more

08/06/2026

Tax Tip of the Week 4-38

I had a different topic planned for this week, but something happened that reminded me this is far more important.

Earlier this year, a client lost their home in a devastating fire. They lost everything—including their beloved dogs. This week, they reached out because they are now trying to reconstruct their 2025 tax records.

Backup, baby. It's all about the backup.

When I deliver completed tax returns through our secure client portal, I've always encouraged clients to download their tax package and save it in a secure location that is backed up regularly.

From now on, I'll be adding one more recommendation:

Make sure at least one of your backups is stored in a different physical location.

For those interested, here's my backup routine:

💾 At the end of each workday, I back up to an external 1TB hard drive, which is stored in a fireproof safe.
☁️ I also back up to two separate cloud storage providers every day.
🔄 Once a week, I rotate my external hard drives with another set stored off-site.

You don't have to go to these extremes (although it's probably reassuring to know your tax professional does!), but having secure, redundant backups is one of the least expensive forms of insurance you can buy. It takes very little time and can save countless hours—and heartache—if disaster strikes.

I follow the same process for our personal documents as well, including wills, estate planning documents, insurance policies, and other important records.

Disasters don't give us advance notice. A good backup plan can make the difference between starting over and simply restoring what you already have.

We speak tax so you don't have to.

Send a message to learn more