Stephenson Accountancy Corporation

01/14/2026

Thinking about solar, EVs, or energy-efficient upgrades?

Several energy tax credits expire under the One Big Beautiful Bill Act including:
🚗 Clean vehicle credit
🏠 Residential clean energy credit
🔋 Energy-efficient home improvement credit

The IRS has published FAQs to help with eligibility and phase-out timelines.

Call for more information, but don’t make any changes until you speak with your tax, legal, or accounting professional.



Source: IRS.gov, September 16, 2025

01/12/2026

Starting in 2026, eligible taxpayers may deduct:
🔹Up to $25,000 in reported tips
🔹Up to $12,500 in overtime compensation ($25,000 if married filing jointly)

These deductions phase out for higher-income taxpayers.

Call for more information, but don’t make any changes until you speak with your tax, legal, or accounting professional.



Source: IRS.gov, September 10, 2025

01/10/2026

The One Big Beautiful Bill Act increases the Child Tax Credit to $2,200 per eligible child.

Other updates to the Child Tax Credit include:
➡️ The credit will be adjusted for inflation in future years
➡️ A valid Social Security number is required for the child
➡️ For joint filers, at least one spouse must have a valid SSN

These updates aim to clarify eligibility and streamline administration.

Call for more information, but don’t make any changes until you speak with your tax, legal, or accounting professional.



Source: IRS.gov, September 10, 2025

01/08/2026

Don’t itemize? In 2026, you can deduct cash donations to charity.

You can deduct up to:
🔹$1,000 if filing single
🔹$2,000 if married filing jointly

Donations must be made in cash and sent to qualified organizations. This is a new option for giving back while managing taxable income without requiring itemization.

Call for more information, but don’t make any changes until you speak with your tax, legal, or accounting professional.



Source: IRS.gov, May 30, 2025

01/06/2026

Recent tax legislation imposed by President Donald Trump and enacted by the One Big Beautiful Bill Act is at the heart of the increase, the White House said.

01/06/2026

Under the One Big Beautiful Bill Act, the standard deduction might impact your upcoming tax filing.

The updated standard deduction amounts for 2026 will be:
▪️$32,200 for married filing jointly
▪️$24,150 for head of household
▪️$16,100 for single or married filing separately

Call for more information, but don’t make any changes until you speak with your tax, legal, or accounting professional.



Source: IRS.gov, September 10, 2025

11/02/2025

09/23/2025

Our national debt & deficit are unsustainable.
How bad will things need to get before we force our politicians to change this ?
I think a balanced budget amendment is the only solution.

Opinion: With federal spending outpacing tax revenue collection, Americans should get used to a new normal of higher inflation as the US government's deficit continues to grow, an economist and political scientist say.

09/11/2025

“When Americans lend a hand to one another, nothing is impossible. We’re not about what happened on 9/11. We’re about what happened on 9/12.” — Jeff Parness

We will not forget those that we lost on 9-11 and the paid of those who loved them. Never Forget!!

Stephenson Accounting

09/08/2025

The recent tax and spending megabill significantly accelerates the repeal of the Biden-era clean energy credits.