Excel Tax & Accounting LLC

03/05/2026

Great Article explaining the catch behind no tax on Overtime for the next few years.
https://www.nytimes.com/2026/03/05/business/no-tax-on-overtime-tax-returns.html?smid=url-share

02/22/2026

Early filers hoping for a “very large refund” in 2026 may have to wait a little longer than they planned if they claimed these two tax credits.

02/18/2026

Did you qualify for the Earned Income Tax Credit or Additional Child Tax Credit? On February 21st the IRS will start processing these returns for Refunds. Don't forget to Check Where's My Refund for your Status

02/16/2026

😂 It is also a great day to get your taxes done! Call us or come by TODAY

02/15/2026

The IRS continues to remind users of payment apps like Venmo, PayPal, and Cash App that all income earned from selling goods or services must be reported on tax returns, even if no official tax form is received.

The "All Income" Rule: Regardless of whether you receive a 1099-K, you must report all business income, including side hustles, part-time work, or selling personal items at a gain.
Personal vs. Business: Money received as gifts or reimbursements (e.g., splitting a dinner bill or rent) is not taxable and should not be reported as income

Get ready to file your taxes. See tips that can make filing taxes easier next year. Learn about tax law changes, how to view your tax account information online, and ways to get help.

02/13/2026

02/09/2026

Are you making these 6 mistakes? Book an appointment today and let us help you sort through the Tax Changes

Is your income tax bill bigger than expected? Here's how you should prepare for next year.

02/04/2026

Do you get Tips as part of your job? Have you read up on the changes within the OBBBA? Reach out today and we can help you work through the changes!

Under these special, temporary rules, qualifying tip recipients may be able to use any of the following as the basis for their deduction:

Tips shown in box 7 of Form W-2 (Social Security tips)
Tips properly reported to an employer, even if the tips do not separately appear on a W-2 form
Tips recorded separately in detailed records of self-employment income, even if the tips are not specifically reported on a Form 1099
If you are eligible to claim the “no tax on tips” deduction, the maximum annual deduction is $25,000, subject to income limits, with a phase-out range beginning at a modified adjusted gross income (MAGI) of $150,000 for individuals, or $300,000 for joint filers.

IR-2025-114, Nov. 21, 2025 — The Department of the Treasury and the Internal Revenue Service today issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025.

02/02/2026

Call Excel Tax to schedule an appointment TODAY!