Gordon Keeter Nichols CPAs

10/26/2026

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.

Separating or divorcing in 2026? Learn how filing status, alimony, property transfers, retirement accounts and other tax issues could affect you before year end.

10/23/2026

Infographic: Why C corporation owners might want to look at employee stock ownership plans.

10/22/2026

The “one-rollover-per-year” rule limits retirement account holders to one indirect IRA-to-IRA rollover within a 12-month period. “Indirect” means you withdraw funds from one IRA and deposit them yourself in the same or another IRA within 60 days. If you attempt a second indirect rollover during the one-year period, the portion not previously taxed will be treated as a taxable distribution. And if you’re under age 59½, a 10% penalty generally will apply (with exceptions). What’s more, a second rollover may be treated as an excess IRA contribution subject to a 6% annual tax. But the rollover rule doesn’t apply to rollovers from traditional IRAs to Roth IRAs. Contact us for details.

10/21/2026

Watch out for the growing reach of the 3.8% net investment income tax (NIIT). The income thresholds haven’t changed since the tax took effect in 2013, so it’s hitting more taxpayers.

If you have net investment income (NII) and your 2026 modified adjusted gross income (MAGI) exceeds $200,000 ($250,000 if you’re married and file jointly, half that if you file separately), you’ll be subject to the NIIT on the lesser of your NII or the amount by which your MAGI exceeds the applicable threshold. Some NII examples are taxable interest, dividends, and gains from stocks, bonds and mutual funds. Year-end planning may help reduce your MAGI or NII — and the NIIT’s impact. Contact us to learn more.

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Learn how the 3.8% net investment income tax (NIIT) may affect you and explore year-end tax strategies to help reduce your potential liability.

10/20/2026

The IRS’s Tax Withholding Estimator (https://bit.ly/4Af0hEz) can help you assess how much income tax to have your employer withhold from your paychecks. This tool can be useful if you have additional income not subject to withholding — such as from investments or gig work — and haven’t made estimated tax payments in 2026. Increasing your withholding by Dec. 31 could help prevent a large tax bill and underpayment penalties later. Unlike estimated payments, withholding is considered to have been paid ratably throughout the year, reducing underpayment penalty risk. Contact us for help determining appropriate withholding, given your income from all sources and potential deductions and credits.

10/19/2026

Working remotely may have unexpected state tax consequences if you aren’t careful.

Learn how working remotely across state lines can affect income taxes, residency, withholding and employer tax obligations in 2026.

10/16/2026

Quiz: This rate helps explain your property tax bill.

10/15/2026

Dividends aren’t the only way to take cash out of your C corporation. Here are some more tax-efficient alternatives to think about before year end.

Explore five ways C corporation owners can take cash out of their business, from shareholder loans and compensation to rental payments and property sales.

10/14/2026

The IRS has issued final regulations on the car loan interest deduction. For loans taken out after Dec. 31, 2024, on new, U.S.-assembled vehicles used primarily for personal use, eligible taxpayers may be able to deduct up to $10,000 in interest annually (through 2028), whether they itemize or claim the standard deduction. The deduction begins to phase out when modified adjusted gross income exceeds $100,000 ($200,000 for joint filers). Used and leased vehicles don’t qualify. Among other things, the final regs clarify the personal-use test. The test is applied only when the loan is taken out. The regs also clarify what can be included in the financed amount. Contact us for more details.

10/13/2026

If you’re opening a small business, you’ll need to get up to speed on tax compliance, pronto. Start by separating your personal and business finances (including bank accounts and credit cards) and choosing your business structure, which will determine how your business is taxed. Research small business deductions (https://bit.ly/3VlQ894) so you’ll know which items will require substantiation at tax time, and get into the habit of keeping excellent records. If you have employees, you’ll need to comply with payroll tax laws. If you don’t have payroll expertise, consider outsourcing this function. Indeed, knowing when you need professional assistance is critical. Contact us for help.