Fleming Accounting Solutions LLC

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Fleming Accounting Solutions LLC Allowing owners freedom to manage their business without worrying over financials, payroll & taxes. READY TO LEARN MORE?

YOUR STRUGGLE: Managing the accounting side of your business can be a challenge. You know you need to get the right processes in place to increase your profits and cash flow, but you just don't have the time. HOW WE CAN HELP: We specialize in helping businesses of various sizes increase profits and cash flow through Outsourced Accounting/Tax Preparation services. We handle the accounting side of your business, allowing you to focus on handling your patients. Send us a message directly here on Facebook or visit our website at: www.flemingaccountingsolutions.com

09/29/2026

Caring for a Family Member? Don’t Overlook the Tax Rules for Caregiver Payments

When a family member needs additional care, it’s not unusual for a spouse, child, parent, or other relative to step in and provide that care.

But what happens when that family member is paid for providing those services?

This is where things can get a little more complicated from a tax perspective.

The IRS has specific rules for family caregivers, and the tax treatment can depend on a number of factors.

Is the caregiver an employee?

Caregivers who provide in-home services to an elderly or disabled individual are generally considered household employees when the person receiving care has the right to control what work is done and how it is performed.

In that situation, the person receiving the care may be considered the employer and could have household employment tax responsibilities.

There are exceptions, however. For example, certain wages paid to a spouse, a child under age 21, a parent, or an employee under age 18 may not be subject to some federal employment taxes. Even when employment taxes aren't owed, there can still be reporting requirements, including reporting the caregiver's compensation on Form W-2.

What if the caregiver isn't an employee?

Not every family caregiver is considered an employee.

In some situations, a family member may receive payments that must still be reported as income but may not be subject to self-employment tax.

For example, the IRS specifically addresses situations where a family member is paid by an insurance company to care for a spouse or receives payments from a state agency to care for grandchildren so their daughter can work. If the caregiver isn't operating a business providing care services, the payments may not be subject to self-employment tax. The income still generally needs to be reported.

When can self-employment tax apply?

The answer can change when caregiving is part of an actual trade or business.

For example, the IRS describes a situation where someone operates a sole-proprietorship adult day-care business serving multiple clients, including a grandmother. Payments received for caring for the grandmother in that business are subject to self-employment tax and are reported on Schedule C and Schedule SE.

Why does this matter?

If you're caring for a family member and receiving compensation, don't assume that the payment is automatic.

The correct treatment depends on the specific facts and circumstances.

And this is one of those situations where getting the tax treatment right from the beginning can save you from having to correct reporting issues later.

If you or a family member is being paid for caregiving services, it's worth discussing the arrangement before tax season. We can help you determine how the payments should be reported, whether employment taxes apply, and what records you should keep.

09/10/2026

How to reconstruct records after a disaster

Some taxpayers may need to reconstruct vital records that were lost in a disaster. Having these records is important for tax purposes, federal assistance or insurance reimbursement. Here are a few steps people who were affected by a disaster can take if they need to obtain their lost records.

Replace tax records
The most common type of tax transcripts needed after a disaster loss is a tax return transcript. Taxpayers can:

• Register to use Individual Online Account to view, print, or download transcript(s).
• Order a transcript by mail or call the automated phone transcript service at 800-908-9946.
• Request by submitting Form 4506-T, Request for Transcript of Tax Return.

Financial and bank records
Credit card companies and banks often provide users with access to past statements.

Reconstruct personal property records

Photos, videos, canceled checks, receipts can help establish the value of damaged or lost property. They can also check online sources to help determine fair market value.

Real property records
• Property documents can be obtained from the title or escrow company or bank that handled the purchase of the property.
• Home improvement contractors can provide statements to verify the work and cost of any improvements made to the property.
• In the case of inherited property, court records can provide probate values, and attorneys who handled the trust can provide information about the value of the property.
• If no records are available, taxpayers can check the county assessor’s office for old records that might provide information about the value of the property.

Vehicle records

Vehicle owners can research the current fair-market value for most vehicles. Resources are available online and at most libraries. They can also contact the dealer where the car was purchased and ask for a copy of the contract.

Taxpayers in a disaster area may now see personalized messages in their IRS Individual Online Account. The messages highlight tax relief, including extended filing and payment deadlines as well as a link to other disaster assistance information. They can also find news about disaster tax relief specific to their area on the Around the nation page of IRS.com

08/11/2026

Don't Let Your Generosity Become Someone Else's Payday

When disasters strike or heartbreaking stories make the headlines, most of us want to help. Unfortunately, scammers know that too.

Every year, the IRS warns taxpayers about charitable giving scams, and this year is no exception. Fraudsters often take advantage of people's generosity by creating fake charities, collecting personal information, or promoting questionable tax schemes involving charitable donations.

Before making your next donation, here are a few simple steps to help protect yourself:

Verify the charity. Before donating, confirm that the organization is a qualified tax-exempt charity. Not every organization claiming to support a cause is eligible for tax-deductible donations.

Keep good records. Save receipts and documentation for both cash and non-cash donations. Good records are essential if you plan to claim a deduction.

Be cautious with donated property. If you're donating items such as artwork, collectibles, or other valuable assets, make sure they're valued accurately. Be wary of anyone promising inflated appraisals or claiming a donation can dramatically reduce your tax bill.

A good rule of thumb...

If a charitable opportunity seems too urgent, too good to be true, or comes with promises of unusually large tax savings, take a step back before moving forward.

The best charitable gifts are made with both your heart and a little due diligence.

A few extra minutes spent verifying an organization today can help ensure your contribution reaches the people who truly need it and help you avoid becoming the victim of a costly scam tomorrow.

08/06/2026

Life Changed This Year? Don't Forget Your Taxes Will Too.

Welcoming a new baby. Going through a divorce. Losing a loved one.

These are some of life's biggest milestones and while taxes may be the last thing on your mind during these moments, they can have a significant impact on your next tax return.

One of the most common misconceptions we see is that taxes only change when your income changes. In reality, many of life's major events can affect everything from your filing status and withholding to the tax credits and deductions you're eligible to claim.

Here are a few examples:

Birth or Adoption of a Child
Adding a new member to your family may open the door to valuable tax benefits, including the Child Tax Credit, Adoption Credit, or Child and Dependent Care Credit. Making sure both you and your child have the appropriate Social Security information in place is an important first step.

Divorce or Legal Separation
Changes in marital status often bring changes to tax responsibilities. Filing status, dependents, withholding, and eligibility for certain deductions and credits may all need to be revisited to avoid surprises at tax time.

Loss of a Spouse or Loved One
Losing someone is never easy, and handling tax matters can feel overwhelming. A final tax return generally must be filed for the deceased individual, reporting income earned through the date of death while also claiming any credits or deductions that still apply.

A Good Rule of Thumb
Whenever life changes, it's worth asking yourself one simple question:

"Does this change affect my taxes?"

Reviewing your tax withholding, updating your personal information, and keeping your records current throughout the year can help prevent unexpected tax bills or missed tax-saving opportunities when it's time to file.

Don't Wait Until Tax Season
Many tax issues are much easier and less stressful to address when they happen rather than months later during filing season.

If you've experienced a major life event this year and aren't sure how it could impact your taxes, now is a great time to ask. A quick conversation today with the tax experts at Fleming Accounting Solutions can help prevent confusion, missed opportunities, or costly surprises down the road.

Life changes. Your tax strategy should too.

08/04/2026

If you use the standard mileage method to deduct business driving or reimburse employees for business mileage, there's an important change for 2026 that shouldn't be overlooked.

The IRS has announced a mid-year increase to the optional standard mileage rates, effective July 1, 2026. While the rate increase itself is welcome news, it also creates a new challenge: 2026 now requires two different mileage rates.

The New 2026 Mileage Rates

For business mileage:

• January 1 - June 30, 2026: 72.5¢ per mile
• July 1 - December 31, 2026: 76¢ per mile

For medical and qualified moving mileage:

• January 1 - June 30, 2026: 20.5¢ per mile
• July 1 - December 31, 2026: 23.5¢ per mile

This is the first mid-year adjustment to the standard mileage rate since 2022.

Why This Matters
Many people are accustomed to applying one mileage rate for the entire calendar year. In 2026, that approach could result in an incorrect deduction or reimbursement calculation.

This change may affect:

• Small business owners and Schedule C filers
• Independent contractors and gig workers
• Real estate professionals
• Businesses reimbursing employees under an accountable plan

If your reimbursement policy automatically references the IRS standard mileage rate, now is a good time to review your process to ensure it reflects the new split-year rates.

A Simple Step That Can Prevent Bigger Problems

Mileage deductions are often overlooked because they seem straightforward. However, using the wrong rate, even unintentionally, can lead to inaccurate deductions, reimbursement discrepancies, and additional work when it's time to prepare tax returns.

Taking a few minutes now to update your mileage tracking and reimbursement procedures can help avoid unnecessary corrections later.

As always, if you're unsure how this change affects your business or your clients, it's worth reviewing your processes before year-end. A small adjustment today can save a lot of time and frustration during tax season. Still need assistance? Let’s chat today.

07/30/2026

Tax planning shouldn’t feel rushed, confusing, or limited to a single conversation once a year.

The strongest tax strategies are built through ongoing planning and small adjustments made throughout the year, not just at filing time.

Whether you’re a small business owner, self-employed, or managing growing personal finances, it’s important to work with a team that helps you:

• Plan ahead instead of reacting later
• Understand the impact of major financial decisions
• Identify opportunities before deadlines pass
• Feel confident about your overall tax strategy

Is your current process giving you the level of guidance and planning you need?

If not, our team is here to help you develop a new proactive approach.

07/28/2026

One thing most people don’t realize is that tax planning should be a collaborative process.

Your accountant or tax professional should help you understand why decisions are being made, not just send forms to sign once a year.

Good communication, proactive planning, and regular check-ins can make a significant difference over time, especially for small business owners and growing families.

If your current process leaves you with more questions than answers, let’s explore a different approach together.

07/23/2026

Receiving a tax refund doesn’t always mean your tax strategy is working in your favor. In many cases, it simply means you overpaid throughout the year.

Strong tax planning is less about chasing refunds and more about:
• Managing cash flow effectively
• Planning ahead for tax liabilities
• Structuring income and expenses strategically
• Making informed financial decisions year-round

Wondering whether there may be a more proactive approach for you to take? Let’s start a conversation that focuses on planning alongside preparation.

07/21/2026

Many people assume tax planning only happens during tax season but the biggest opportunities to reduce taxes usually happen before year-end.

A good tax strategy should help you:
• Understand upcoming tax obligations
• Plan for major financial decisions
• Identify available deductions and credits
• Avoid surprises at filing time

If you’ve finished tax season feeling unclear about your overall strategy, it may be worth reviewing whether your current process is truly proactive or simply reactive.

Our team enjoys helping clients create tax plans that support their long-term goals, not just complete returns once a year.

07/14/2026

Just Married? Don't Forget About Your Taxes

Wedding planning usually ends with the honeymoon but there are a few financial tasks that shouldn't wait until next tax season.

We often see newlyweds caught off guard by unexpected tax issues that could have been avoided with a little planning.

Here are a few simple steps to take after saying "I do":

Update your name. If you've changed your name, be sure to update it with the Social Security Administration. Your tax return must match their records to avoid processing delays.

Update your address. If you've moved, notify the IRS, your employer, financial institutions, and the post office so important tax documents reach you.

Review your tax withholding. Marriage can change your tax situation, especially if both spouses work. Updating your Form W-4 now can help prevent an unexpected tax bill or a large refund next year.

Understand your filing options. Your marital status on December 31 determines your filing status for the entire tax year. While filing jointly is often the better option, it's worth comparing both joint and separate returns to determine what works best for your situation.

Organize your records. Bringing together W-2s, 1099s, prior-year tax returns, and other important documents now will make tax season much less stressful.

Review available tax credits and deductions. Marriage may change your eligibility for certain tax benefits, making it worthwhile to review your options before filing.

Marriage is one of life's biggest milestones, and it's also a good opportunity to make sure your financial and tax plans are aligned.

A few small updates today can save time, reduce stress, and help you avoid surprises when it's time to file your return.

If you recently got married and have questions about how it may affect your taxes, we're always happy to help.

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Punxsutawney, PA
15767

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+18149383715

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