ITBS LLC

04/01/2026

02/25/2026

No receipt = risky deduction.

When it comes to business expenses, documentation matters. If you’re ever audited, you need more than just a bank transaction to support your deduction.

Make sure you keep:
• Date
• Amount
• Vendor
• Business purpose

The good news? Digital copies are completely acceptable. A quick photo on your phone can protect you later.

Bank statements alone are not always enough to prove a deductible expense.

Screenshot it now — thank yourself later.

02/24/2026

W-2 and 1099 are NOT the same — and understanding the difference can save you from a very stressful April.

Here’s the breakdown:

🔹 W-2 Employee
Taxes are automatically withheld from each paycheck.

🔹 1099 Contractor
No taxes are withheld — you are responsible for setting aside and paying your own taxes (including self-employment tax).

If you’re a 1099 contractor and not planning ahead, tax season can come as an expensive surprise.

The key?
✔️ Set aside a percentage of every payment
✔️ Track your income and expenses
✔️ Make estimated tax payments if required

Contractors — don’t wait until April to find out what you owe. Plan now.

If you have questions about your situation, Idaho Tax & Bookkeeping is here to help.

02/19/2026

Not everything is a write-off… but more is than you think 👀
If it’s ordinary and necessary for your business — it might be deductible.

✅ Software�✅ Office supplies�✅ Marketing�✅ Education�❌ Random Target runs that have nothing to do with your business

The rule?�When in doubt — track it.

You can’t deduct what you didn’t document.

Save this for tax season ✔️

01/31/2026

Back Taxes and the Emotional Reality

People with unfiled returns or back taxes rarely live at peace. Sleep is hard. Anxiety follows them. Many carry it silently for years.

When someone comes to my office, I address the stress first. Before numbers or forms, I tell them this: you will be OK. Then we get to work and fix it.

If you have back taxes and are considering IRS resolution options like an Offer in Compromise or payment plans, acting sooner matters. Staying compliant keeps options open.

You do not have to carry this alone. Help exists.

01/15/2026

Filing 2025 Taxes With Back Taxes

Owing from prior years does not mean you skip filing in 2025. Staying current is often required before the IRS will consider relief options.

Not filing adds penalties. Filing keeps doors open.

Questions? Call 208 608 5653.

01/08/2026

📌 BIG 2025 TAX UPDATE FOR BUSINESS OWNERS

The new “Big Beautiful Bill” brings major depreciation changes starting in 2025 and they are a game changer for cash flow.

✅ 100 percent Bonus Depreciation is back and permanent
Most qualifying business equipment can be fully deducted in the year it is placed in service. No phase down. No waiting years to recover costs.

✅ Applies to new AND used equipment
Machinery, computers, office equipment, furniture, and certain vehicles qualify if new to your business.

✅ Expanded Section 179
Up to $2.5 million can be expensed immediately with phaseouts starting at $4 million in purchases.

✅ Certain production and manufacturing buildings may qualify
Special rules now allow full expensing for qualified production property placed in service after 2024.

💡 What this means for you
If you are planning equipment purchases, vehicle upgrades, or expansion in 2025, the tax savings could be substantial. Timing matters. Structure matters. Elections matter.

📞 If you want to plan this correctly before year end, talk to your CPA early.
Smart depreciation is one of the fastest ways to legally reduce your tax bill.

Idaho Tax and Bookkeeping Services
208 608 5653

01/05/2026

Tax season reminder for business owners

One of the most expensive mistakes I see every year is waiting until March or April to think about taxes.

By then, most planning opportunities are gone.

A few things worth checking right now if you own a business:
• Make sure your bookkeeping is actually reconciled, not just categorized
• Confirm your entity type still makes sense for your income level
• Review payroll and owner compensation early, not after the fact
• Separate personal and business expenses cleanly before year end pressure hits

Tax preparation is about reporting.
Tax planning is about reducing liability.

They are not the same thing, and timing matters.

If you are running a business, your CPA should not just be filing returns. They should be helping you think ahead.

Hope this helps someone avoid a surprise later.