Newell & Newell, PC

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Newell & Newell, PC is a full-service accounting firm serving clients throughout the Columbus, GA area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.

The IRS recently announced special per diem travel rates that are effective from Oct. 1, 2026, through Sept. 30, 2027. U...
10/23/2026

The IRS recently announced special per diem travel rates that are effective from Oct. 1, 2026, through Sept. 30, 2027. Under the simplified high-low method, employers can use two per diem rates to reimburse employees for lodging, meals and incidental expenses for business travel within the continental U.S. The new rate is $329 for high-cost localities and $230 for all other areas. In some locations, the high-cost rate applies only for certain periods of the year. The high-low method can simplify expense reimbursements and reduce paperwork, but you must follow specific IRS rules and restrictions. Contact us to help determine whether this method is right for your business.

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax ob...
10/23/2026

It’s time to address year-end tax planning, especially if your business is booming. Start by projecting your 2026 tax obligation and assessing whether estimated payments made throughout the year are sufficient. You may need to adjust your fourth payment to potentially avoid (or minimize) underpayment penalties.

Also consider tax-reduction strategies, such as timing revenue and expenses, taking advantage of the qualified business income deduction, contributing to a retirement plan and leveraging first-year depreciation write-offs for eligible asset purchases.

These moves require careful coordination, so contact us to explore your options. We can help develop a plan tailored to your situation.

As the year draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your 2026 income taxes. If ...
10/23/2026

As the year draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your 2026 income taxes. If you haven’t been contributing, it may not be too late to start. And if you’re already contributing, increasing the amount you contribute from each paycheck before year end could boost your 2026 tax savings. If your employer matches contributions, try to contribute at least enough to receive the maximum match. Otherwise, you’ll lose out on free money! Check with your employer about deadlines and available options. We can help you evaluate the tax implications and determine whether increasing your contributions makes sense for your situation.

Are you separating or divorcing this year? Decisions made before your divorce is finalized can affect your 2026 income t...
10/23/2026

Are you separating or divorcing this year? Decisions made before your divorce is finalized can affect your 2026 income tax liability and your tax situation in future years. Some of the most critical tax issues to consider as you work through a separation or divorce are related to: 1) tax filing status and, if you have dependent children, who’ll claim them for tax purposes, 2) support payments, 3) home ownership, 4) retirement accounts, and 5) business interests. We can help you evaluate the tax consequences of your separation or divorce so you can make informed decisions before year end. Contact us to get started.

Helping your children, grandchildren or other loved ones obtain a quality education can be one of the most meaningful wa...
10/23/2026

Helping your children, grandchildren or other loved ones obtain a quality education can be one of the most meaningful ways to pass on your wealth. By establishing an irrevocable family education trust, you can set aside assets for children, grandchildren and other loved ones while specifying how funds will be used. The trust can also own one or more 529 plans, combining flexible estate planning with tax-advantaged educational savings. A properly structured trust may even reduce your taxable estate by removing assets and future appreciation. However, gift and generation-skipping transfer taxes may apply. Contact us to discuss whether a family education trust belongs in your estate plan.

Gifting interests in a closely held business or family limited partnership can reduce your taxable estate. But valuation...
10/23/2026

Gifting interests in a closely held business or family limited partnership can reduce your taxable estate. But valuation disputes with the IRS may lead to unexpected gift taxes, interest and penalties. A defined-value gift can help manage this risk by transferring an interest worth a fixed dollar amount rather than a set ownership percentage. If the IRS adjusts the asset’s value, a properly drafted formula clause adjusts the percentage transferred. Precise wording and qualified appraisals are essential. Contact us for help determining if a defined-value gift may be right for your situation.

Blended and nontraditional families shouldn’t assume inheritance and other laws will produce the results they expect. Fo...
10/23/2026

Blended and nontraditional families shouldn’t assume inheritance and other laws will produce the results they expect. For example, if you’re a stepparent, a stepchild generally will have no automatic right to inherit from you. Similarly, if you’re unmarried and raising a child with a long-term partner and the child is legally related to only your partner, you likely will have no automatic parental rights and the child will likely have no automatic right to inherit from you. Legal adoption can help, but you should understand all the consequences. You may instead be able to use estate planning documents and beneficiary designations to achieve your goals. Contact us to get started.

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper ...
10/06/2026

Business owners often have more complex tax situations that can trigger an IRS audit. The good news is that with proper preparation, detailed records and professional guidance, you can make the process far less stressful.

Some returns may be selected randomly, but the IRS also has some audit hot buttons. Examples include significant differences between current and prior-year returns, repeated business losses, profit margins and expenses that differ substantially from similar businesses, and mathematical errors.

If you receive an IRS notice, don’t panic; contact us immediately. We can help you understand the issues, gather the needed documents and respond to the inquiries effectively.

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread...
10/06/2026

If you want to sell your business, receiving the purchase price over time in an installment sale may allow you to spread your gain — and the related tax — over several years.

The buyer typically makes a down payment and issues a note for the balance. Each principal payment generally includes a tax-free return of basis and taxable gain; interest on the note is taxed separately as ordinary income. This arrangement may also expand the pool of buyers or help you obtain a higher price. But depreciation recapture may be taxable upfront, and you assume the risk that the buyer won’t pay.

Contact us to discuss the pros and cons and determine the optimal deal structure for your situation.

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business t...
10/06/2026

Does your business accept, spend or invest in cryptocurrency? The IRS scrutinizes digital-asset transactions. Business tax returns include a question about digital assets, and brokers must report certain transactions on Form 1099-DA.

Digital assets are treated as property for federal tax purposes. Cryptocurrency accepted for goods or services is taxable income based on its fair market value when received. Selling, exchanging or spending it may create a separate gain or loss. Crypto payments to employees and contractors are subject to the usual tax-reporting rules and can produce a business gain or loss. Contact us to review your 2026 digital-asset activity and reporting obligations.

Address

400 Brookstone Centre Parkway Suite 450
Columbus, GA
31904

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

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