Foster & Dolleck, CPA's

10/19/2026

Great insight on tax planning to potentially minimize the effects your Required Minimum Distribution can have. Speak with your tax advisor and financial planner.

Required minimum distributions can be used as a tool to help lower your tax bill, smarten your charitable giving and keep your retirement strategy on track.

10/19/2026

Social security wage base is going up to $192,300 from $184,500 in 2027. That means that you and your employer will pay the 6.2% social tax on wages up to the limit.

There will also be a 3.6% cost of living (COLA) adjustment for those receiving social security and Supplemental Security Income.

The Social Security Administration announced a 3.6% cost-of-living adjustment for 2027 and increased the Social Security wage base to $192,300. The annual update also includes changes to retirement earnings limits and other indexed Social Security amounts that affect taxpayers and employers.

10/19/2026

Every year I've cautioned clients with Affordable Care Act Insurance to properly report your income when signing up. If you receive an advanced premium tax credit, it is based on income. If the income on the tax return you file is less than you reported, you may receive additional credit. If it's higher, you have to pay a portion of the credit back. Up until this point, there was a cap on how much you had to pay back based on income. Under proposed new regulations outlined in the One Big Beautiful Bill, for any tax return filed after December 31, 2025, the cap will be removed. That means there will be no limit on the amount you have to pay back. This is more of an incentive to properly report your income if you receive a premium tax credit. A reminder that you can change you income on the exchange any time throughout the year.

The IRS and Treasury proposed regulations implementing Sec. 36B premium tax credit changes enacted in H.R. 1, including new eligibility and verification requirements, reporting changes, and rules governing repayment of excess advance premium tax credits.

09/14/2026

Electronic payments to and from the are generally processed faster, cost less to handle, and reduce errors compared to paper payments. It’s time to leave paper behind -- learn more at: IRS.gov/modernpayments

09/14/2026

If you make quarterly estimated tax payments, mark your calendar. The third estimated tax payment for 2026 is due September 15.

Self-employed individuals, retirees, investors, and others who have income that isn’t subject to withholding may need to make estimated tax payments. Making payments on time can help taxpayers avoid an unexpected tax bill or possible penalties.

Learn more about estimated taxes from the : www.irs.gov/estimatedtaxes

08/29/2026

One Big Beautiful Bill Act (OBBBA), new charitable contribution deduction for non-itemizers.

There’s a new tax benefit for charitable giving in 2026. Under the Working Families Tax Cuts, taxpayers who don’t itemize may be able to deduct up to $1,000 in cash contributions to certain qualified organizations, or up to $2,000 for married couples filing jointly. See the new charitable contribution deduction rules and find out what qualifies: https://ow.ly/yGkH50ZyczK

08/18/2026

A few great take aways from this article for retirement considerations.

Many Americans harbor misconceptions about Social Security, Medicare and other pillars of retirement. Here are 6 of the biggest retirement myths.

08/18/2026

There are new reporting requirements related to crypto. However, as is always the case, never provide personal information unless you are sure of the requester. It's always better to call the IRS directly, with a phone number you find on the IRS website. Also reach out to your tax preparer related to any IRS letters.

https://www.journalofaccountancy.com/news/2026/aug/irs-warns-crypto-holders-about-fake-compliance-portal-scam/?utm_source=mnl%3Aau&utm_medium=email&utm_campaign=14Aug2026&fbclid=IwY2xjawTxU5ZwZG9mAWV4dG4DYWVtAjEwAGJyaWQRMTdLeGhsd1BSY3M5eGZ6emdzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEe5aQ-lViY965YUKzKkhXVg3vYtKgJodOk1u9SLDpbVVv3Z-fGLutBMuJphIg_aem_4L92V6m_wkVJSiGRR_h4-w

08/12/2026

Business owners. Please ensure your third party payment systems (PayPal, Venmo, CashApp) are set up correctly. Verify your tax identification number (SSN, TIN) and other information is accurate. Final regulations are coming on when those payment systems will withhold taxes on your payments. See article for details.

Final IRS regulations reflect changes made by the OBBBA to rules governing backup withholding on third-party network transactions under Sec. 3406.

08/12/2026

Employers, make sure your payroll system is tracking overtime correctly and will be reported on the W2 appropriately. Otherwise, your employees will not be able to take advantange of the new overtime deduction as set out in the One Big Beautiful Bill.

Workers generally may claim the overtime pay deduction only for amounts reported on Form W-2, Wage and Tax Statement, beginning in tax year 2026, according to updated IRS FAQs. The IRS also clarified that the deduction does not make overtime pay exempt from gross income.