Accentax Inc.

Business owners, this is your sign 👀

If you paid independent contractors in 2025, 1099s are due by February 2, 2026. No extensions. No excuses.

If you’re missing W-9s, unsure who qualifies, or just want this handled correctly.

👉 DM us the word “1099” and we’ll take it from there.

Simple. Clear. Done right.

#1099

Tax season is right around the corner.

The IRS officially opens the 2026 filing season on January 26, and this year brings important updates that create new planning opportunities for taxpayers.

Now is the time to organize, plan, and get ahead so filing season runs smoothly from start to finish.

We’re prepared to help you every step of the way.

Don’t wait until the last minute, schedule your appointment today.

🔗 Link in bio to schedule

2025 TAX UPDATE: NEW “NO TAX ON OVERTIME” RULE

Working overtime? For the 2025 tax year, the federal government introduced a new deduction that can reduce your taxable income for overtime earned. It’s rooted in the One Big Beautiful Bill Act and you’ll first claim it when you file your 2025 return in 2026.

Here’s how it works if your W-2 didn’t break out the overtime premium in Box 14:

1. Find your last pay stub for 2025

2. Take your Year-to-Date (YTD) total overtime pay

3. Calculate the “qualified overtime” premium:
• If you get time-and-a-half, divide your YTD overtime by 3 (this isolates the premium portion)
• If you get double time, divide by 4 to find the extra portion that qualifies for the deduction

4. Enter that number on the new OCI deduction line (Schedule 1-A when filing your Form 1040), that’s the amount you can deduct from taxable income.

Why this matters:
✔️ This deduction only applies to the premium, the extra pay beyond your normal rate.
✔️ You can deduct up to $12,500 (individual) or $25,000 (joint filers).
✔️ You still pay Social Security & Medicare taxes on overtime, but federal income tax on the qualified portion can be reduced.

For 2025 only, employers aren’t required to list this separately on your W-2, so using your pay stub and doing this math may be your best way to capture it.

The IRS has officially released the retirement contribution limits for 2026 and they’re higher across the board. Here’s what’s changing:

🔹 401(k), 403(b), 457 & TSP Plans

* 2026 Contribution Limit: $24,500 (up from $23,500 for 2025)
* Catch-Up (Age 50+): $8,000 (up from $7,500 for 2025)
* Special Catch-Up (Ages 60–63): $11,250 (unchanged)

🔹 IRA Contributions

* 2026 IRA Limit: $7,500 (up from $7,000 for 2025)
* IRA Catch-Up (Age 50+): $1,100 (up from $1,000 for 2025)

🔹 SIMPLE Retirement Accounts

* 2026 SIMPLE Limit: $17,000 (up from $16,500 for 2025)
* Higher SIMPLE Limit (SECURE 2.0): $18,100 (up from $17,600)
* Catch-Up (Age 50+): $4,000 (up from $3,500)

These increases come with higher income phase-out ranges for IRA deductions, Roth IRA contributions, and the Saver’s Credit, expanding opportunities for more taxpayers to save.

Now’s the time to review your retirement strategy and ensure you’re maximizing your limits for 2026.

📌 Save this post for your tax planning

Contact us if you want professional guidance.

It’s Small Business Saturday, and Accentax is here to support you, whether you’re building a business or handling your personal finances.

Supporting the entrepreneurs, dreamers, and families who trust us with their numbers.

From monthly bookkeeping to individual & business taxes, we keep your numbers organized so you can move forward with clarity and peace of mind.

Here’s to strong foundations and steady growth. 🤝✨

Happy Thanksgiving 🦃

Grateful, Thankful and Blessed…

Choosing the correct tax filing path for your LLC is one of the most important financial decisions you’ll make as a business owner.

Each structure, single-member, multi-member, or S-Corporation, comes with different requirements, deadlines, and tax implications. When you file correctly, you protect your business, minimize liability, and keep more of your earnings.

If you’re unsure whether you’re filing the right way or want to confirm whether an S-Corp election could reduce your tax burden, I offer guidance tailored to your business structure and goals.

📩 DM me “LLC REVIEW” for a professional tax assessment

💼 Gain clarity, avoid costly mistakes, and stay compliant year-round.

💾 Save this for your upcoming tax season planning.

Stop giving your money away to the IRS! 💰

Tax season doesn’t have to be stressful or expensive.

Meeting with your CPA before year-end helps you uncover legal deductions, plan smarter, and keep more of what you earn.

Whether you’re a small business owner, freelancer, or professional, a little planning now can save you a lot later.

✅ Maximize deductions
✅ Minimize surprises
✅ Build a stronger financial strategy

💼 Contact us today because smart planning always pays off.

🌿 Growth isn’t found in the chase, it’s built in alignment. When you stop pouring energy into what drains you, you make room for what’s divinely aligned with your purpose and prosperity. Keep building what feels right, not what looks busy. 💼✨