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09/26/2026

FALL TAX PLANNING MEMO

TO: Our Valued Clients & Friends
FROM: Total Tax Service Inc.
RE: Your Fall Tax Planning Checkup
DATE: September 2026

DON'T WAIT UNTIL APRIL TO FIND OUT YOU COULD HAVE SAVED THOUSANDS

Fall is the ideal time to review your tax situation.

There are still several months left in the year to make decisions that could reduce your tax bill, increase your deductions, improve your retirement savings, and help prevent an unpleasant surprise when your tax return is prepared.

Once December 31 passes, many tax-saving opportunities disappear.

WE RECOMMEND THAT YOU REVIEW:

1. Your estimated 2026 tax liability
Are you on track to owe money—or receive a refund? If your income has changed significantly, your withholding or estimated payments may need to be adjusted.

2. Business income and expenses
Business owners should review year-to-date income, expenses, equipment purchases, vehicle expenses, retirement plans, and other potential deductions before year-end.

3. Equipment and major purchases
If you are considering purchasing equipment, machinery, computers, vehicles, or other business assets, timing can make a significant difference in your tax situation.

4. Retirement contributions
Review your IRA, SEP, SIMPLE, 401(k), or other retirement contributions and determine whether additional contributions could benefit you.

5. Charitable contributions
If you plan to make substantial charitable gifts, we can help you evaluate the potential tax consequences and the best way to structure your contributions.

6. Capital gains and losses
If you sold investments or are considering selling stocks, mutual funds, real estate, or other assets, now is the time to review the tax consequences.

7. Withholding and estimated taxes
A change in employment, wages, business income, retirement income, investment income, or other sources of income can dramatically change your tax liability.

8. Family and life changes
Marriage, divorce, retirement, a new child, college expenses, buying or selling a home, or starting a business can all affect your taxes.

9. Business entity and compensation planning
Business owners should review whether their current compensation, distributions, retirement contributions, and business structure still make sense.

10. Year-end tax moves
Depending on your circumstances, there may be actions you can take before December 31 that could reduce your taxable income or improve your overall tax position.

DON'T MAKE TAX DECISIONS AFTER THE YEAR IS OVER

One of the biggest mistakes taxpayers make is waiting until their tax return is being prepared to start thinking about taxes.

At that point, many opportunities are already gone.

Tax preparation looks backward.
Tax planning looks forward.

Our goal is to help you make informed decisions before December 31, while there is still time to act.

SCHEDULE YOUR FALL TAX PLANNING REVIEW

If your income, business, investments, family situation, or financial circumstances have changed this year, we strongly recommend a year-end tax planning review.

Bring us your questions, your year-to-date income information, and any major financial decisions you are considering.

We'll review your situation and identify potential tax-saving opportunities that may be available to you.

Call Total Tax Service Inc. today to schedule your Fall Tax Planning Review.

DON'T WAIT UNTIL TAX SEASON.

The best time to plan your taxes is before the year is over—not after it is too late.

Total Tax Service Inc.
519 Main Street Towanda, PA 18848
[email protected]
570-268-0989
Professional Tax Preparation • Tax Planning • Accounting Services

Tax strategies depend on your individual circumstances. Not every strategy applies to every taxpayer, and tax laws and limitations may change. A tax planning review does not guarantee a particular tax result.

08/13/2026

EIDL BORROWERS: DON'T LET A $100,000 LOAN TURN INTO A $130,000 PROBLEM
If your EIDL loan is delinquent, the clock may already be working against you.

Dear Business Owner:

If your business received an EIDL loan during the pandemic and you are behind on payments, you need to take this seriously.

Many business owners are making a dangerous assumption:

“The government hasn't contacted me, so everything must be okay.”

That's not necessarily true.

Once a federal debt is referred for collection, additional collection costs can potentially be added to the debt. In applicable cases, those costs can be as much as 30% of the debt.

Consider What That Could Mean

If you owe:

$50,000 → potentially $15,000 in additional collection costs

$100,000 → potentially $30,000 in additional collection costs

$200,000 → potentially $60,000 in additional collection costs

That's money that could otherwise be used to operate your business, pay employees, invest in equipment, or retire other debt.

DON'T WAIT FOR TREASURY COLLECTION

The worst time to start dealing with an EIDL problem is after it has already been referred for collection.

Your situation should be evaluated before the problem gets worse.

Our office can help you determine:

The current balance on your EIDL loan
Whether the loan is current, delinquent, or in default
Whether collection activity has begun
Whether the loan has been or may be referred for federal collection
What your business can realistically afford to pay
How the EIDL obligation affects your business's financial position
What options may be available based on your particular circumstances
Whether you should involve an attorney or other professional
AND THERE'S ANOTHER PROBLEM BUSINESS OWNERS OFTEN OVERLOOK

Closing your business doesn't automatically make the EIDL debt disappear.

Selling the business, shutting the doors, dissolving the LLC or corporation, or simply walking away from the loan does not necessarily eliminate the government's rights.

And depending on the loan documents and circumstances, personal guarantees and collateral can be important.

THE QUESTION ISN'T WHETHER YOU WANT TO PAY YOUR EIDL LOAN.

The question is:

WHAT IS THE BEST WAY TO DEAL WITH IT BEFORE THE SITUATION BECOMES MORE EXPENSIVE?

You don't need to panic.

But you do need to act.

A problem that can potentially be evaluated and addressed today can become much more difficult after collection proceedings begin.

GET YOUR EIDL SITUATION REVIEWED

If you're behind on your EIDL loan—or you're worried that you may not be able to continue making payments—call our office now.

We'll review your situation and help you understand where you stand and what steps should be considered next.

Don't wait until you receive a Treasury collection notice.

Call today.

Total Tax Service Inc
The next generation of accountants
570-268-0989
[email protected]
totaltaxpros.com

P.S. A 30% collection cost on a large EIDL balance can mean tens of thousands of additional dollars. Don't wait until the debt has progressed further into federal collection before finding out what your options are.

07/14/2026

Summer Tax Tips: Mid-Year Strategies to Save Money

Summer is an excellent time for a mid-year tax checkup. Making adjustments now can help reduce your tax bill, avoid penalties, and eliminate unpleasant surprises next filing season.

1. Review Your Tax Withholding

If you've had a raise, changed jobs, gotten married, divorced, or had a child, your withholding may need to be updated. The IRS recommends reviewing it during the summer rather than waiting until year-end.

2. Estimate Your Tax Liability

If you're self-employed, have investment income, rental income, or a side business, make sure you're paying enough through estimated tax payments to avoid penalties.

3. Maximize Retirement Contributions

Increasing contributions to:

Traditional IRA
Roth IRA (if eligible)
401(k)
SEP IRA or Solo 401(k) (for business owners)

can reduce current taxes and boost retirement savings.

4. Organize Your Tax Records

Keep receipts for:

Business expenses
Charitable contributions
Medical expenses
Property taxes
Vehicle mileage
Home office expenses

Good recordkeeping saves time and helps maximize deductions.

5. Business Owners: Review Your Income

Summer is a good time to:

Review year-to-date profits.
Purchase needed equipment before year-end if it will qualify for deductions.
Evaluate whether your business structure is still the most tax-efficient.

6. Watch Capital Gains

If you've sold stocks or other investments, estimate the tax impact now. You may be able to offset gains with capital losses later in the year.

7. Parents: Check Available Credits

Summer expenses may qualify for tax benefits:

Summer day camp may qualify for the Child and Dependent Care Credit.
College students should keep tuition records for education credits.

8. Seasonal and Gig Workers

If you earn income from:

Landscaping
Construction
Farmers markets
Ride-share driving
Online sales
Freelance work

set aside money for taxes and keep detailed records of income and expenses.

9. Plan Charitable Giving

If you expect to itemize deductions, keep track of donations and obtain proper receipts. Mid-year planning can help you maximize your tax benefit.

10. Meet With Your tax professional Before Fall

A summer tax planning meeting allows enough time to:

Adjust estimated payments
Increase retirement contributions
Plan equipment purchases
Review payroll and entity structure
Develop strategies before year-end deadlines

Waiting until December often limits available tax-saving opportunities.

Tax Tip of the Month

Don't wait until tax season to think about taxes. A 30-minute mid-year tax review can often save hundreds—or even thousands—of dollars by giving you time to make smart financial decisions before December 31.

Give us a call to set up a time to meet.

Total Tax Service
519 Main Street
Towanda, PA 18848
570-268-0989

06/23/2026

Do I have to pay taxes after I am dead?

In the U.S., yes — a tax return may still need to be filed after a person dies.

Here’s how it generally works:

Final individual return (Form 1040): A final return is filed for the deceased person covering January 1 through the date of death. The same filing thresholds apply as if they were alive.
Who files it: Usually the surviving spouse, executor, or personal representative.
Refunds: If there’s a refund due, the estate or eligible survivor may need to file IRS Form 1310 to claim it.
Estate income after death: If the deceased’s assets continue generating income (interest, dividends, rent, etc.), the estate may need its own return on IRS Form 1041.

Key point: Death does not erase tax obligations—it shifts responsibility to the estate or representative.

Example:

If someone dies in June 2026 and had wages, Social Security, IRA distributions, or business income before death, a 2026 final return may still be required (filed in 2027).

Have tax question, give us a call. Open year around

Total Tax Service
519 Main Street
Towanda, PA 18848
570-268-0989

06/04/2026

Summer Tax Tip: Hire Your Kids for the Summer

If you own a business, summer can be an excellent time to put your children to work and potentially reduce your family's overall tax bill.

How it works:

Pay your child a reasonable wage for actual work performed.
Common tasks include filing, organizing records, social media management, cleaning, data entry, and office support.
Wages paid are generally deductible as a business expense.
Your child may pay little or no federal income tax if their earnings are below the standard deduction amount.

Example:
If your business pays your child $8,000 during the summer for legitimate work:

The business may receive an $8,000 deduction.
The income shifts from a potentially higher tax bracket to your child's lower tax bracket.
The money can be used for college, a vehicle, or savings.

Important rules:

The work must be legitimate and age-appropriate.
Pay must be reasonable for the services performed.
Keep time records and job descriptions.
Pay by check and maintain payroll records.

For more information give us a call.

Total Tax Service
519 Main Street
Towanda, PA 18848
570-268-0989

05/08/2026

🚨 ATTENTION BUSINESS OWNERS AGE 55+ 🚨

Thinking About Retiring… But Not Sure What Your Business Is Worth (Or How to Sell It)?

You’ve spent YEARS—maybe DECADES—building your business…

Late nights. Payroll stress. Customers. Risk. Sacrifice.

Now you’re asking the big question:

👉 “How do I turn all this into a retirement… without leaving money on the table?”

💰 HERE’S THE TRUTH MOST OWNERS DON’T REALIZE:

Most businesses sell for LESS than they should
Many deals fall apart before closing
And too many owners wait too long… and lose leverage

📊 BEFORE YOU EVEN THINK ABOUT SELLING…

You Need Answers To These 3 Critical Questions:

What is my business REALLY worth right now?
How do I increase that value BEFORE selling?
What’s the smartest way to exit and minimize taxes?

✅ INTRODUCING:

FREE BUSINESS EXIT & VALUE REVIEW

We’ll show you:

✔ What buyers are ACTUALLY paying in today’s market
✔ Hidden value drivers that could increase your sale price
✔ Tax-smart strategies to keep more of what you’ve earned
✔ Your best options: sell, phase out, or transition

⚠️ THIS IS FOR YOU IF:
You’re within 1–10 years of retirement
Your business generates $300K+ in revenue
You want a clear exit plan—not guesswork

🎯 CLAIM YOUR FREE REVIEW NOW

(Spots are limited – we only work with a small number of owners each month)

👉 Call us at 570-268-0989 for a free review

👇 FINAL THOUGHT:

You only sell your business once.
Make sure you don’t learn the hard way what it was really worth.

Total Tax Service
519 Main Street
Towanda, PA 18848
570-268-0989
[email protected]

04/02/2026

WARNING—TIME IS RUNING OUT!!

The IRS has complicated filing an accurate tax return even more this year, so the chances of getting one of those nasty letters form the IRS has gone way up. The IRS filing deadline is only a few days away. Filing an incorrect tax return (or not filing at all) before April 15 could mean penalties, increased interest charges and possible fines. Total Tax offers a “Complete Peace of Mind” Accuracy Guarantee and a special “Procrastinator” discount for those waiting till the last minute to file. Here are some of the reasons to choose Total-Tax to file your returns:

Guaranteed Accuracy or your money back!
Biggest & Fastest Refunds Allowed by the IRS—Guaranteed!
FREE Electronic Filing!
Audit Protection Guarantee!
Same Day Tax Preparation!
No Money needed Up Front!
30 Years of Experience!
Best Prices in the Area!
FREE Gift: Kitchen Set (while they last)

Towanda
519 Main St
570-268-0989 (By the Theatre)

$50 OFF TAX PREPARATION WITH THIS CODE: 2020
(Expires 4/15) Code 2020
Visit us online at totaltaxpros.com

03/16/2026

“The Big Beautiful Tax Bill Created New Deductions… But Most Taxpayers Have No Idea How To Claim Them.” 1. Lower Tax Rates Continue The bill makes the lower individual tax brackets permanent, preventing tax rates from increasing after 2025. Example: Without the bill, many taxpayers would have moved into higher brackets starting in 2026. 2. Bigger Standard Deduction The higher standard deduction from the 2017 tax reform is now permanent, meaning many taxpayers can reduce taxable income without itemizing deductions. This helps middle-income taxpayers the most. 3. Higher Child Tax Credit The Child Tax Credit increased to about $2,200 per child and is indexed for inflation going forward. This directly reduces the taxes families owe. 4. Larger SALT Deduction The state and local tax (SALT) deduction limit increased from $10,000 to $40,000 for many taxpayers through 2029. This is a major benefit for homeowners and taxpayers who itemize. 5. New Deductions for Workers Several new deductions apply through 2028: Overtime pay deduction up to $12,500 ($25,000 joint filers). Tips tax exemption on up to $25,000 for qualifying workers. Car loan interest deduction up to $10,000 for qualifying vehicles. 6. Extra Deduction for Seniors Taxpayers 65 and older can deduct an additional $6,000 of income (subject to income limits). 7. Larger Estate Tax Exemption The estate tax exemption rises to $15 million per person, allowing more wealth to pass tax-free. 8. Overall Tax Savings Estimates suggest the law will reduce taxes by about $3,800 on average per taxpayer in 2026. ✅ Simple summary: The bill helps taxpayers mainly by: Keeping tax rates lower Increasing deductions and credits Creating new tax breaks for workers, families, and seniors Here are 5 practical tax strategies taxpayers can use to save money under the “One Big Beautiful Bill”. 1. Claim the New Overtime Deduction If you earn overtime pay, you may now deduct up to: $12,500 (single) $25,000 (married filing jointly) 💡 Strategy: Track overtime separately on your pay stubs and make sure your tax preparer claims the deduction. Many taxpayers will miss this deduction if their preparer doesn’t ask about overtime. 2. Deduct Car Loan Interest Taxpayers can deduct up to $10,000 of interest on qualifying vehicle loans. 💡 Strategy: If you recently bought a vehicle for commuting or work purposes, keep your loan interest statement from the lender. For many middle-income taxpayers this could mean $1,000–$2,000 more deductions. 3. Take Advantage of the Higher SALT Deduction The state and local tax deduction cap increased to $40,000. 💡 Strategy: Homeowners should track: Property taxes State income taxes Local taxes Many homeowners who previously couldn’t itemize now can again, which may reduce taxes significantly. 4. Maximize the Larger Child Tax Credit Families can claim about $2,200 per child. 💡 Strategy: If your child turns 17 during the year, plan carefully because eligibility changes. Families with multiple children could see thousands in tax savings. 5. Seniors Get an Extra Deduction Taxpayers age 65+ receive an additional $6,000 deduction. 💡 Strategy: Some retirees may now be able to offset Social Security income or IRA withdrawals with this deduction. Simple Example A middle-income family could see savings like this: Child tax credits: $4,400 Overtime deduction tax savings: $1,000+ SALT deduction increase: $1,500+ Vehicle interest deduction: $500+ Total potential savings: $5,000–$7,000 in some cases. Marketing Angle for a Tax Office This topic is perfect for attracting new clients. If you have questions or need help filing your tax returns, give us a call we can help. Get a Free second look if you have already filed to make sure you received all the new deductions. Total Tax Service Inc 519 Main Street Towanda, PA 18848 570-268-0989 [email protected]

03/04/2026

YOU WORK TOO HARD TO GIVE THE IRS A TIP.

If You Make Between $45,000 and $150,000…

There’s a Good Chance You’re Missing Money.

You’re not ultra-rich.
You’re not low income.
You’re the one who gets squeezed in the middle.

You:

Work a full-time job

Maybe have a side hustle

Own a home

Contribute to retirement

Pay for childcare, insurance, groceries, and everything else

And every year you wonder…

“Did I get everything I deserved?”

Here’s The Truth Most Tax Preparers Won’t Say:

Middle-income taxpayers lose the most money
because they assume their return is “simple.”

It’s not.

Between:

Child tax credits

Education credits

Retirement contributions

Energy efficiency credits

Dependent care expenses

Itemized deductions

Side income write-offs

There’s opportunity hiding everywhere.

But only if someone looks for it.

We Don’t Just Plug Numbers Into Software.

We:
✔️ Review your entire financial picture
✔️ Compare to last year for missed opportunities
✔️ Check for overlooked credits
✔️ Plan ahead so next year is better
✔️ Explain everything in plain English

No rushing you out the door.
No 12-minute tax prep assembly line.

And If You’re Getting a Refund…

We make sure:

It’s as large as legally possible

You understand where it came from

You don’t create problems for next year

Bring Last Year’s Return For A FREE Review.

If we don’t find at least one area worth improving —
you’ll know you’re already in great shape.

Either way, you win.

This Is For Responsible, Hardworking Taxpayers

Who Want It Done Right The First Time.

Call today.
Schedule now.
Appointments fill fast during peak season.

Stop guessing.
Stop hoping.
Start keeping more of what you earn.

Call today for an appointment or your FREE REVIEW.

Total Tax Service Inc
519 Main Street
Towanda, PA 18848
570-268-0989
[email protected]

02/14/2026

⚠️ WARNING:

The “Cheap” Tax Preparer Could Be Costing You THOUSANDS Every Year

Before you hand your financial life to the lowest bidder… read this.

Because when it comes to taxes, you don’t get what you pay for — you get what you don’t pay for.

And what you don’t pay for is:
❌ Strategy
❌ Accuracy
❌ Protection
❌ Maximum deductions
❌ Long-term tax savings
🎯 Cheap Preparers Are Trained To Be FAST — Not SMART

Their business model is simple:
👉 Get you in
👉 Rush the return
👉 Collect the fee
👉 Move on

No deep review.
No planning.
No digging for missed deductions.
No concern for what happens if the IRS comes knocking.

📬 And When the IRS DOES Come Knocking…

The Internal Revenue Service doesn’t care that you used a bargain preparer.
They come after YOU.
Not the $99 tax shop.
Not the seasonal worker who rushed your return.
You.

With penalties.

Interest.

And audit stress.

💡 What a Professional Does That Cheap Shops Never Will
✔ Finds deductions others miss
✔ Structures income smarter
✔ Plans ahead to lower future taxes
✔ Reduces audit risk
✔ Stands behind the return
✔ Helps with IRS letters & problems

A professional isn’t an expense.
They’re an investment that usually pays for itself many times over.

💥 The Brutal Truth

Most people who switch to a professional discover:
• Overpaid taxes for years
• Missed credits
• Sloppy filings
• Risky shortcuts
The “cheap” return quietly cost them thousands.

✅ Smart People Don’t Look For The Cheapest Surgeon…
And Smart Taxpayers Don’t Look For The Cheapest Tax Preparer

They look for:
✔ Accuracy
✔ Strategy
✔ Experience
✔ Protection
✔ Maximum legal savings

We prepare Individual, Corporate, Partnership and Fiduciary Income tax returns.
Give us a call for a Free Review and/or to help you prepare your income tax returns.

Total Tax Service Inc.
519 Main Street
Towanda, PA 18848
570-268-0989

[email protected]

Better Preparers--Better Returns

Address

519 Main Street
Towanda, PA
18848

Opening Hours

Tuesday 9am - 7pm
Wednesday 9am - 7pm
Thursday 9am - 7pm
Friday 9am - 7pm
Saturday 9am - 4pm

Telephone

(570) 268-0989

Website

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