PS Young Bookkeeping

09/29/2026

👻 Tax TuesPAY | Tax Horror Story Edition
The October 15 federal extension deadline is approaching.
Individuals who timely requested an extension for their 2025 Form 1040 generally have until October 15, 2026 to file. One important distinction: an extension to file was not an extension to pay IRS

With Halloween coming, though, I want to hear something different this week:

What is the strangest, most unusual or downright scary tax situation you've encountered?

A surprise IRS notice?

A missing K-1 discovered at the last minute?

Years of bookkeeping that didn't match the tax returns?

A 1099 nobody remembered?

An old tax problem suddenly resurfacing?

One thing I've learned in tax work is that the unusual cases are often where careful questions matter the most.

No confidential details necessary — tell me your tax horror story in the comments.

And if yours isn't a story yet because you're currently living it, feel free to message me.

Send a message to learn more

09/22/2026

🚗 Tax TuesPAY | The IRS just clarified the new car-loan-interest deduction—and there's an interesting provision for business owners.

Treasury and the IRS have finalized regulations governing the new federal deduction for qualified passenger-vehicle loan interest.

For tax years 2025–2028, qualifying taxpayers may deduct up to $10,000 annually of eligible car-loan interest, even when taking the standard deduction.

The basic requirements include a new vehicle, qualifying financing incurred after December 31, 2024, U.S. final assembly and income limitations.

But the final regulations also address something relevant to entrepreneurs and sole proprietors: mixed-use vehicles.

A vehicle can potentially satisfy the personal-use requirement when, at the time of purchase, the taxpayer expects it to be used more than 50% for personal purposes—even if it will also be used in the business.

That doesn't mean simply deducting the same expense twice.

It means vehicle use, loan interest and the method used to deduct business-related costs should be evaluated together.

Tax planning isn't just knowing that a new deduction exists. It's knowing how the rules interact with your actual situation.

09/15/2026

Tax TuesPAY | September 15 is more than another day on the tax calendar.

Today is the third 2026 federal estimated-tax payment deadline.

A common misconception is that estimated payments only apply to self-employed taxpayers. They can also become relevant when a taxpayer has investment gains, interest, dividends, other income without withholding, or simply insufficient payroll withholding.

For business owners, September 15 carries another important deadline: calendar-year S corporations and partnerships that received a six-month extension generally must file their 2025 returns today.

The larger lesson is simple:

Tax preparation looks backward. Tax planning looks forward.

By September, business owners should have enough 2026 financial information to begin estimating income, reviewing withholding/payments, and identifying potential year-end planning opportunities.

Waiting until March or April means many planning decisions are already gone.

09/08/2026

TAX TuesPAY TIP | September 15 has multiple business-tax deadlines.

For business owners and independent professionals, September 15 isn't merely another date on the calendar.

The third 2026 individual estimated-tax installment is due September 15, and the IRS can assess an underpayment penalty when insufficient tax is paid during a payment period — even if the taxpayer ultimately receives a refund.

September 15 is also the extended filing deadline for calendar-year S corporations and partnerships that timely requested six-month extensions.

For Arizona taxpayers required to make state estimated payments, Q3 is also due September 15.

Good tax management isn't simply preparing a return in April. It's knowing what obligations are developing while the year is still happening.

Business owners: are quarterly tax projections part of your financial-management process, or are taxes still being calculated after the year is over?

Send a message to learn more

08/25/2026

TAX TuesPAY TIPS | Arizona Employers: Overtime Reporting Just Became More Important

Arizona has adopted state income-tax subtractions tied to the federal qualified overtime and tip deductions.

For 2026, employers also have new reporting responsibilities for qualified overtime compensation.

This makes payroll accuracy more than an administrative issue. Incorrect classification or poor payroll records can directly affect an employee’s ability to claim the deduction.

The headline is “No Tax on Overtime.”
The compliance issue is knowing what actually qualifies and documenting it correctly.

Business owners: has your payroll provider explained the 2026 overtime reporting changes to you?

08/18/2026

TAX TuesPAY TIPS — 60-Day Countdown ⏰

October 15 is getting closer.

If you filed an extension, now is the time to start thinking beyond simply “getting the return filed.”

Are your records complete?
Is your bookkeeping current?
Are you still missing tax documents?
Have you addressed anything that could create questions when the return is prepared?

An extension gives you additional time to file, not additional time to pay taxes that were due in April.

The goal over the next several weeks should be simple: replace last-minute tax preparation with organized tax preparation.

If you’re on extension, what’s the biggest thing you still need to get finished?

Send a message to learn more

08/18/2026

It's official! I am now admitted to practice before the IRS. For Tax Resolution & Collections; IRS Appeals & Administrative Representation; Tax Planning & Advisory; and Complex Compliance & Return Preparation, I'm your man.

08/11/2026

TAX TuesPAY TIPS

A New Tax-Preferred Employee Benefit Just Got More Guidance

The U.S. Treasury issued new guidance today regarding employer contributions to Trump Accounts.

Under the rules, employers may contribute up to $2,500 annually toward an employee’s or dependent’s Trump Account without the contribution generally being included in the employee’s taxable income. Employees may also have the ability to make pre-tax contributions through participating employer plans.

For business owners, this is worth watching for two reasons:

• It creates another potential tax-advantaged employee benefit.
• It could become another tool for attracting and retaining employees.

For families, it creates another potential avenue for building long-term savings for children.

The tax code changes constantly. Good planning means understanding new opportunities before tax season arrives.

Send a message to learn more

08/05/2026

I was told that the best rewards are at the end of the roads less traveled. In my experience, I found that the best rewards often lie where the road doesn’t exist. So, I make the road by walking.