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Carolyn Culp, EA, ATA

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Council Grove, KS
Carolyn Culp, EA, ATA

I have been a professional tax accountant since 1977 with offices located in Kansas and California.

10/30/2026

Getting an unexpected tax bill is a spooky experience. Prevent these surprise tax bills by checking your withholding with the Tax Withholding Estimator tool. Answer a series of questions online to find out if you need to increase your withholding or make an estimated tax payment.

Ghost ahead and get started at www.irs.gov/withholding.

10/30/2026

Caring for a loved one is important work. If you get paid to take care of a family member, different tax rules may apply. Learn more: https://ow.ly/exLN50ZW0r7

10/30/2026

Are you sending your child to a before or after school program while you work or look for work? You can get a credit for 2026 when you file your taxes with the next year. Under the Working Families Tax Cuts, the Child and Dependent Care Credit has expanded. Starting in tax year 2026, the maximum credit rate increases from 35% to 50%. This is a valuable tax savings for working families.

Learn more at www.irs.gov/wftc.

10/27/2026

Accurate W-2 Reporting Is Required to Deduct 2026 Overtime – Did You Know?

Eligible taxpayers may deduct up to $12,500 of qualified overtime compensation ($25,000 for joint filers) on their 2026 federal income tax returns without itemizing. The deduction begins phasing out when modified adjusted gross income exceeds $150,000 ($300,000 for joint filers). Married taxpayers generally must file jointly. Qualified overtime generally means the “half” portion of time-and-a-half pay required under the Fair Labor Standards Act. Social Security and Medicare taxes still generally apply.

For 2026, employers must report qualified overtime on Form W-2 in box 12 using code “TT.” If the amount is missing or incorrect, contact your employer and keep supporting pay stubs handy. Be sure to obtain a corrected Form W-2c (Corrected Wage and Tax Statement) if your employer omitted or incorrectly reported your qualified overtime pay.

10/19/2026

Educators Have New Options to Deduct 2026 Classroom Expenses – Did You Know?

If you work as a K–12 teacher, instructor, counselor, principal or aide for at least 900 hours during the school year at a qualifying school, you may be able to deduct qualifying unreimbursed classroom expenses on your tax return.

For 2026, eligible educators may deduct up to $350 of qualifying expenses as an above-the-line deduction without itemizing, or up to $700 for a married couple filing jointly if both qualify, with a limit of $350 each.

Additionally, a new itemized deduction is available beginning in 2026 for educator expenses, with no separate dollar cap. You must itemize deductions to claim this additional deduction. It is also available to interscholastic sports administrators and coaches who meet the K–12 school and 900-hour requirements, and may cover additional expenses.

Eligible educators may claim both deductions, as long as the expenses used to figure each deduction do not overlap. A tax professional can help you determine whether you qualify and which deduction strategy yields the greatest possible tax savings.

10/12/2026

October 15 Filing Extension Deadlines

Taxpayers who timely requested an extension to file their 2025 federal income tax returns generally must file by Thursday, October 15, 2026. The same deadline generally applies to calendar-year C corporations that received an extension to file their 2025 corporate returns (Form 1120).

In addition, U.S. persons with a financial interest in or signature authority over foreign financial accounts whose combined value exceeded $10,000 at any time during 2025, and who are required to file a Report of Foreign Bank and Financial Accounts (FBAR), generally must file by October 15, 2026. The FBAR extension is automatic; no extension request is necessary.

10/05/2026

Up to $5,120 of the Adoption Tax Credit Is Refundable for 2026 – Did You Know?

The Adoption Tax Credit helps eligible families manage qualified costs such as adoption fees, travel, legal services and home studies. In recent years, the credit was nonrefundable: it could reduce a person's federal income tax, but any unused amount generally had to be carried forward.

Under rules that took effect in 2025, part of the credit is now refundable. For tax year 2026, up to $5,120 per eligible child may be refundable, even if the taxpayer owes no federal income tax. Any unused nonrefundable portion may be carried forward for up to five years, but a carryforward cannot become refundable in a later year.

The Adoption Tax Credit is subject to income limits and other restrictions, and the timing of a claim depends on the circumstances of the adoption. A tax professional can help determine whether you qualify and how much credit you may claim.

07/29/2026

Good customer service from the is making things easier for you. Our new Automatic Exemption from Penalty (AEP) process does just that. It will apply to eligible original returns starting with tax year 2025 and 2026 quarterly returns. If you're eligible, the IRS will apply AEP and send you a notice.

Find out more about our new AEP process at https://ow.ly/wpur50Znur6.

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Council Grove, KS
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