Ed Ransom, CPA

09/02/2026

Something we need to think about...

A colleague told me, half-terrified, that her son's becoming a full-blown socialist. Our kids have been taking notes on the new (broken) social contract.

07/19/2026

A new automatic process provides penalty relief for clients with a history of filing and paying on time reduces the need for tax professionals to request penalty abatement.

The new Automatic Exemption from Penalty (AEP) will replace the long-standing First Time Abate administrative relief. AEP is a systemic administrative relief program expected to begin this summer. AEP applies to eligible original returns beginning with tax year 2025 and 2026 quarterly returns, as well as future tax periods. Clients qualify if they have a history of timely filing the return and paying any tax due in the three prior years (or 12 consecutive quarters for quarterly returns). When taxpayers qualify, penalties are not assessed during processing for:

Failure to file;

Failure to pay; or

Failure to deposit.

Tax professionals and their clients do not need to take action to receive this relief. If a client is eligible, the IRS will apply AEP and issue a notice confirming that the relief was granted.

Clients who do not qualify for AEP may still request penalty relief based on reasonable cause. The IRS will review those requests and notify taxpayers of the outcome.

While AEP prevents the assessment of certain penalties, clients must still pay any tax and interest due, as well as any penalties not eligible for relief.

07/17/2026

IRS raises standard mileage rates for remainder of 2026

Citing the increase in the cost of fuel, the IRS has set a higher optional standard mileage rate used to calculate the deductible costs of operating an automobile for business for the remainder of 2026.

The revised standard mileage rates, effective July 1, are: 76 cents per mile for business, an increase from 72.5 cents, and 23.5 cents per mile for medical and moving purposes, up from 20.5 cents per mile for each.

The American Automobile Association reported that the average price for regular gasoline was $2.819 a gallon on Jan. 8, and $3.890 on July 15, an increase of 38%.

It's not too late to be planning your 2026 small business taxes, and certainly not too early for 2027, so reach out to me with questions. I'm accepting new clients now! Call or text (760) 963-3103.

03/04/2026

What exactly is the war powers resolution?

01/23/2026

It's tax time, so let's talk! Are you looking for a CPA in Bullhead City to file taxes this year?
Message me, or call (760) 963-3103

01/01/2026

Happy New Year!

12/25/2025

11/16/2025

Local CPA accepting new clients!

10/26/2025

Residential energy tax credits

Energy Efficient Home Improvement Credit (25C)

This credit offers 30% of the cost of qualified home improvements, up to a maximum of $3,200 annually. The annual limits are broken down as follows:

Insulation and air sealing: Up to $1,200.

Exterior windows and skylights: Up to $600.

Heat pumps, heat pump water heaters, and biomass stoves/boilers: Up to $2,000.

Exterior doors: Up to $250 per door, with a $500 total limit.

Home energy audits: Up to $150.

Expiration date: Property must be placed in service by December 31, 2025.

10/22/2025

The Internal Revenue Service spelled out some of the services that will be limited or unavailable during the government shutdown.