Covenant CPA LLC

09/04/2026

For more than 130 years, labor workers have been recognized and celebrated for their contributions to America’s strength, prosperity, advancement and well-being.

Whether you choose to celebration Labor Day with parades and parties, or a quiet day of rest, we celebrate you! The American worker is the creator of so much of our nation’s strength, freedom, and leadership. As the backbone of the American dream, labor workers have continually contributed to raising the nation’s standard of living and contributing to the greatest production of goods and services the world has ever known. Thank you!

08/13/2026

The Heavy Vehicle Use Tax Form 2290 is coming due at the end of August.

What is it?
Any highway motor vehicle with a gross weight over 55,000 lbs. are subject the Federal Heavy Vehicle Use Tax (HVUT).
An exemption from this tax is provided for any qualifying vehicle that was not used for more than 5000 miles on public highways during the past taxable period. Public highways are defined as any road that is not private, including federal, state, county, and city roads.

Exempt vehicles include vehicles operated by:
* The Federal or a state or local government
* A non-profit volunteer fire department, ambulance association or rescue squad
* Certain mobile machinery that meets the specs for a chassis as described under the specially designed mobile machinery for non-transportation functions

Need more information? Check out the IRS webpage on Form 2290.

Information about Form 2290, Heavy Highway Vehicle Use Tax Return, including recent updates, related forms, and instructions on how to file. Form 2290 is used to figure and pay the tax due on certain heavy highway motor vehicles.

07/16/2026

IRS just announced an increase to the standard mileage rate for 2026 to help offset increasing gas prices! Sometimes pennies don't seem like much, but they definitely add up.

The revised standard mileage rates are:
1) Business 76 cents per mile
2) Medical and moving 23.5 cents per mile

The revised standard mileage rates apply to deductible transportation expenses paid or incurred for business, medical, or moving expense purposes on or after July 1, 2026, and to mileage allowances that are paid both (1) to an employee on or after July 1, 2026, and (2) for transportation expenses paid or incurred by the employee on or after July 1, 2026.

Is this an example of the government giving us their "two cents" worth?

06/29/2026

A Mid-Year Tax Checkup May Help Manage Unwanted Tax Consequences

With the tax season a distant memory and summer already here, you have probably stopped thinking about taxes and are busy planning your annual vacation. However, mid-year is also a good time for a tax checkup.

Your midyear tax checkup does not require a detailed analysis of every financial transaction; rather, it simply means reviewing your records, withholding, and major life changes to help make next year's filing season a little less stressful.

06/19/2026

05/21/2026

Got kids? Got kids who love Summer Camp?

Did you know you can offset summer camp costs with the Child and Dependent Care tax credit, worth up to 35% of eligible expenses?

Key IRS Rules to know:
✔️ Day camps only – no overnight camps qualify. Specialty Day Camps (sports, music, science, arts, etc.) do qualify as long as they are for daytime childcare.
✔️ Child must be under the age of 16 when the care is provided
✔️ Parent or Parents must be working, actively looking for work or a full-time student during the camp period.
💲 💲 Up to $3,000 for one child or $6,000 for 2 or more.

How do I claim the credit?
🌟 You will need the camp’s name, address, Taxpayer ID or Employer ID
🌟 File Form 2441 with your federal tax return

Need help? Reach out today to speak to a tax specialist!

04/22/2026

Want to fine-tune your tax withholding and/or estimated tax payments for 2026 taxes? Plan ahead and use the IRS Tax Withholding Estimator.

With some basic information like your income from your most recent paystub(s) and your 2025 tax return, it takes about 25 minutes to go through the questions and offers the opportunity to print a completed W-4 or W-4P form to give to your employer or pension provider.

Just to note: The estimator does not ask for personal info like your name, SS number, address, or bank account info. Your responses won’t be saved or shared with the IRS.

Taking a short half hour now to complete the withholding estimator can:
> Help avoid too little tax withheld and avoid owing a penalty next April
> Help avoid too much tax withheld and get a bigger paycheck now with a smaller refund later

Visit the IRS website for more details.

Check your W-4 tax withholding with the IRS Tax Withholding Estimator. See how your withholding affects your refund, paycheck or tax due.

04/08/2026

The 5-Minute "Trick" to Increase Productivity & Successes.
Did you know...
most people who procrastinate aren't lazy...they are OVERWHELMED.
Too many tasks, too large of tasks, not enough time, too much...

03/11/2026

The Internal Revenue Service announced its annual Dirty Dozen list of tax scams for 2026 that threaten the tax and financial information of taxpayers, businesses, AND tax professionals.
The IRS advises all taxpayers to remain cautious year-round, as criminals will always be on the lookout for new ways to obtain money, personal identifiable information, and data.

Check out the full story on the IRS website:

IR-2026-30, March 5, 2026 — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2026 that threaten the tax and financial information of taxpayers, businesses, and tax professionals.

02/25/2026

The tax filing deadline is approaching fast, which means time is running out to fund an IRA for 2025. If you earned income last year, you may be able to contribute up to $7,000 for 2025 ($8,000 for those who were aged 50 or older by December 31, 2025) up until your tax return due date, excluding extensions. For most people, that date is Wednesday, April 15, 2026.

Making a last-minute contribution to an IRA may help you reduce your 2025 tax bill. In addition to the potential for tax-deductible contributions to a traditional IRA, you may also be able to claim the Saver's Credit for contributions to a traditional or Roth IRA, depending on your income. For more information, visit irs.gov.