Riley's Accounting Inc

08/11/2026

Attention teachers, school staff, and coaches in our local school districts! Under recent tax law changes (the One Big Beautiful Bill Act), your tax breaks for classroom supplies and school purchases got a helpful upgrade for tax year 2026. The direct tax deduction you can claim without needing to itemize rises to $350 for single educators (or $700 if both you and your spouse are educators filing jointly). Even better, school sports coaches and athletic administrators are now officially eligible for educator write-offs, too!

07/22/2026

Donation deduction for non-itemizers is back!! Beginning with tax year 2026, if you do not itemize, you may deduct up to $1,000 ($2,000 if filing jointly) of your donations to certain qualified organizations.

If you receive a benefit in exchange for the contribution such as merchandise, goods or services, including admission to a charity event, banquet, theatrical performance, or sporting event, you can only deduct the amount that exceeds the fair market value of the benefit received or expected to be received.

Be sure to read this article so that you plan appropriately - https://www.irs.gov/taxtopics/tc506

07/14/2026

07/02/2026

You've seen Shark Tank; now check out TROUT TANK!

The Outdoor Business Alliance of Pennsylvania is proud to announce the launch of its inaugural grant program, Trout Tank, an opportunity for outdoor entrepreneurs across the Commonwealth to secure awards of $500 to $2,500 to elevate their business.

Grant proposals will be accepted from Wednesday, July 8 at 8 am. through Friday, August 7 at 5 pm. Finalists will be required to participate in a virtual pitch competition--the Trout Tank--held on Thursday, August 27 from 3-6 pm. The application, guidelines and technical assistance are available in English and Spanish.

An informational webinar will be held on Wednesday, July 15 at 5:30 pm. via Zoom. Register here: https://lnkd.in/dDZTC7B5

Trout Tank guidelines can be found here: https://lnkd.in/dA3m5rKP

Stay tuned - the application portal will be launched on July 8. You can sign up for OBA's e-alerts at www.OBAPA.org.

PennWest Clarion SBDC is located at PennWest Clarion and we are hear to help you prepare for TROUT TANK!!

07/01/2026

05/08/2026

Have you received a letter from the IRS called Notice CP53E. If you get one, don’t panic—but do be careful. Lately, these notices have been popping up everywhere for two main reasons:

-->Errors: The IRS has reportedly sent many of these out by mistake. People who weren't even expecting a refund are getting them.

-->Scam Risks: Because so many people are confused, scammers are trying to use fake versions of this letter to steal bank account details.

If you receive a CP53E notice:

-->Check your records: Were you actually expecting a refund? If you already got your refund or didn't have one coming, the letter might be an error or a scam.

-->Don’t click or scan: Avoid using QR codes or links in the letter if you are suspicious.

-->Go to the source: Instead of following instructions in the letter, go directly to www.irs.gov and log into your "Online Account" to see if there are any real messages for you.

-->Wait for the check: If you do nothing, the IRS will usually just mail a paper check to your house after about 6 weeks.

As always, if you’re a client and you receive one of these, give us a call. I’m happy to look it over!

https://www.kiplinger.com/taxes/irs-refund-letters-spark-confusion-over-fake-cp53e-notices

https://www.cbiz.com/insights/article/irs-notice-cp53e-issued-in-error-what-taxpayers-should-know

Some CP53E IRS notices may be erroneous. Take a careful and informed approach to help avoid unnecessary action and reduce the risk of fraud.

05/05/2026

Was your PA Refund larger than you expected?
The Working Pennsylvanians Tax Credit (WPTC) is a new state-level tax credit modeled after the federal Earned Income Tax Credit (EITC). The state credit equals 10 percent of your federal credit.

If you qualified for the federal EITC, you automatically qualify for the state credit — helping to lower your taxes or increase your refund. The maximum state credit is $805.

The Department of Revenue will automatically calculate your WPTC and apply it to reduce your PA taxes or increase your refund.

https://www.pa.gov/agencies/revenue/resources/tax-types-and-information/personal-income-tax/working-pennsylvanians-tax-credit

04/15/2026

📣 𝗡𝗢𝗪 𝗛𝗜𝗥𝗜𝗡𝗚 𝗮𝘁 𝗣𝗲𝗻𝗻𝗪𝗲𝘀𝘁 𝗖𝗹𝗮𝗿𝗶𝗼𝗻! PennWest University is seeking a 𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗼𝗿/𝗪𝗘𝗗𝗻𝗲𝘁 𝗣𝗿𝗼𝗴𝗿𝗮𝗺 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗼𝗿 to support two impactful, grant-funded programs. This role works closely with the Small Business Development Center, helping expand outreach to new and existing entrepreneurs and small business owners, while also coordinating the WEDnet program to allocate funding for employee training needs. Reporting to the SBDC Director and based on the Clarion campus, this is a great opportunity to make a meaningful impact on local businesses and workforce development. Learn more and apply here: https://pennwest.peopleadmin.com/postings/1423

04/10/2026

Our clients with kiddos 10 & under have been applying for Trump Accounts. Start a retirement account now for your littles. Newborns born 2025 - 2028 will receive $1,000 towards their Trump Account from the Fed government. That $1,000 could turn into $6,000 at age 18, could be $15,000 at age 27, and could be $243,000 at age 55. ***Kiddos older than newborn up to 10 could receive $250.***

P.S. Chocolate? or Vanilla?

04/10/2026

We are here to help you through the tax season race...