Shelton, Mead & Shelton

10/12/2026

Estimated Taxes Aren't Just for the Self-Employed

Many people assume estimated tax payments only apply to self-employed individuals, but that isn't always the case.

If you receive income that typically doesn't have taxes withheld, such as: ✔️ Interest ✔️ Dividends ✔️ Rental income ✔️ Capital gains ✔️ Royalties ✔️ Prizes and awards
..you may be required to make estimated tax payments throughout the year. The IRS reminds taxpayers that federal taxes are generally paid as income is earned, either through withholding or estimated tax payments.

Making timely payments can help you avoid unexpected tax bills and potential penalties.

📖 Learn more: https://www.irs.gov/newsroom/estimated-taxes-arent-just-for-the-self-employed

10/07/2026

🍂 Our October Newsletter Is Here!

Stay informed and prepared with this month's newsletter, packed with helpful tax tips, important reminders, and feature articles designed to help individuals and businesses navigate tax and financial matters with confidence.

✅ Tax planning insights
✅ Filing and payment deadline reminders
✅ Business and payroll tax updates
✅ Helpful articles and resources

Take a few minutes to catch up on the latest information that could help you save time, avoid surprises, and stay compliant throughout the year.

📖 Read the October Newsletter here: https://www.smscpatx.com/newsletter.php

10/05/2026

⏰ October Tax Deadlines Are Approaching!
Don't let important tax deadlines sneak up on you this month.

📅 October 15, 2026
✅ Last day to file your individual income tax return (Form 1040) if you filed an extension
✅ Last day to file your corporate income tax return (Form 1120) if you filed an extension
✅ Any remaining tax liability is due

📅 October 31, 2026
✅ Last day to file Form 941 for the 3rd Quarter of 2026
✅ Last day to make your associated payroll tax payment through EFTPS

Staying ahead of these deadlines can help you avoid unnecessary penalties and interest. If you need assistance with filing or making payments, we're here to help!

09/30/2026

📄 Need a copy of your tax information? The IRS offers several types of tax transcripts that can help with filing returns, applying for a mortgage, financial aid, and more. Different transcripts provide different levels of information, such as tax return details, account history, wage and income records, and verification of non-filing status.

The good news? Tax transcripts are available free of charge and can be accessed online, requested by mail, or obtained using Form 4506-T. Learn which transcript you need and how to request it here: https://www.irs.gov/newsroom/tax-transcripts-know-the-different-types-and-how-to-get-them

09/28/2026

♿ Did you know accessibility improvements could help lower your business's tax bill?

Eligible small businesses may qualify for the Disabled Access Credit when making improvements that help individuals with disabilities access their products, services, or facilities.

Potential qualifying expenses may include:
✅ Providing sign language interpreters
✅ Providing readers for individuals with visual impairments
✅ Purchasing or modifying specialized equipment or devices
✅ Other accessibility-related improvements

The credit can cover 50% of eligible expenses above $250, up to a maximum qualifying amount of $10,250.

If you're considering accessibility upgrades or have already made improvements, contact our office to learn whether your business may qualify for this valuable tax credit.

09/23/2026

📢 Business owners and taxpayers: The IRS has updated its Frequently Asked Questions (FAQs) regarding the limitation on the deduction for business interest expense. These updates provide important clarifications to help taxpayers better understand how the deduction rules apply and support compliance with current tax requirements.

The revised guidance is available in Fact Sheet FS-2026-14, which updates prior guidance issued in December 2025. If your business carries debt or incurs interest expenses, staying informed about these rules can help you make more informed tax planning decisions.

Learn more: https://www.irs.gov/newsroom/irs-updates-faqs-about-the-limitation-on-the-deduction-for-business-interest-expense

IR-2026-94, Aug. 19, 2026 — The Internal Revenue Service today updated frequently asked questions about the limitation on the deduction for business interest expense.

09/21/2026

Planning a retirement account rollover?

The Treasury Department and IRS have announced new guidance designed to make rollovers between retirement plans and IRAs easier and more consistent. As part of the SECURE 2.0 Act, the IRS has released sample forms and proposed procedures to help simplify the rollover process while reducing paperwork and protecting personal information.

These resources are intended to make retirement account transfers smoother for both participants and plan administrators. The guidance applies to rollovers between retirement plans and IRAs, though it does not apply to IRA-to-IRA transfers.

Learn more: https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-rollovers-between-retirement-plans-and-individual-retirement-accounts

09/16/2026

Before 2026 ends, make sure your investments are working for your tax strategy, too!
A year-end portfolio review could uncover opportunities to help reduce your tax bill. Consider these tax-smart investment moves:

✅ Harvest investment losses to offset gains
✅ Avoid costly wash sale rule mistakes
✅ Time the sale of appreciated investments wisely

Every taxpayer's situation is different, and the right strategy depends on your income, goals, and overall financial picture.

📞 Before making major investment decisions, reach out to our office. We'll help you coordinate your investment choices with your tax planning strategy.

09/14/2026

Worked overtime this year? There may be a tax deduction available for qualifying overtime compensation.

The IRS recently updated its Frequently Asked Questions (FAQs) related to the qualified overtime deduction, providing taxpayers with additional guidance on how this deduction works and what may qualify. The updates revise earlier guidance released in January 2026 and are designed to help taxpayers better understand the new deduction.

If you earn overtime pay, now is a great time to review the latest IRS guidance and understand how it could affect your tax situation.

Learn more here: https://www.irs.gov/newsroom/irs-updates-faqs-on-qualified-overtime-deduction

09/09/2026

❤️ Giving back feels good, and keeping track of your donations can benefit you at tax time, too!

The IRS reminds taxpayers to keep organized records of charitable contributions throughout the year. Save receipts, bank records, and written acknowledgments from charities, especially for donations of $250 or more. If you're donating items instead of cash, be sure to document their fair market value. Beginning with tax year 2026, some taxpayers who don't itemize may also qualify for a charitable contribution deduction.

Before making a donation, verify that the organization is eligible to receive tax-deductible contributions using the IRS Tax Exempt Organization Search tool.

Learn more: https://www.irs.gov/newsroom/tips-for-tracking-charitable-donations