Melita Love CPA

03/30/2026

Some new deductions; New Schedule 1A

The has published Schedule 1-A along with updated instructions taxpayers will use with their 2025 federal tax returns to claim new deductions created by the One, Big, Beautiful Bill. This new schedule explains how to calculate and claim deductions that may help reduce your taxable income, including:
✅ Deduction for qualified tips earned on the job
✅ Deduction for overtime compensation
✅ Deduction for car loan interest on eligible vehicles
✅ Enhanced deduction for seniors (age 65+)

🔗Read more: https://ow.ly/vA2J50YoIfg

03/26/2026

FYI

06/27/2025

IRS statement regarding the delay of processing payments (in case anyone receives this notice).

"The IRS is aware that there is a delay in processing some electronic payments, and that some taxpayers are receiving IRS notices indicating a balance due even though payments were made timely"

June 12, 2025 — The IRS is aware that there is a delay in processing some electronic payments, and that some taxpayers are receiving IRS notices indicating a balance due even though payments were made timely.

03/17/2025

Happy St Patty’s

09/20/2024

09/13/2024

Real Estate is a passion of mine, I always enjoy researching and talking about it.

08/12/2024

We love working with therapists!

08/02/2024

NYS is sending out small checks to individuals that qualified for a Empire State Child Credit in 2023.
Eligibility is generally based on federal AGI being $110,000 or less (Married Joint) or $75,000 (Single).

Services News Government Department of Taxation and Finance NYS Tax Department: Additional Empire State child credit payments New York State Department of Taxation and Finance sent this bulletin at 08/01/2024 07:24 PM EDT Having trouble viewing this email? View it as a webpage. To assist you with pr...

07/30/2024

Are you curious about your tax rate? The brackets below show which part of your income is taxed at which rates. The tax rate is progressive. The lower income is taxed at a lower rate, only the income above the previous bracket is taxed at the higher rate. The math is cool, taxes not so much.

06/30/2024

The IRS has sent out incorrect balance due notices to taxpayers that paid tax with their 2023 returns. They say you don't need to do anything; they are going to fix it. (No comment from me)

June 12, 2024 — The IRS is aware that some taxpayers are receiving CP14 (Balance Due, No Math Error) notices indicating a balance due even though payments were made with their 2023 tax return.

01/31/2024

What do you get when you cross a dog with a calculator? A friend you can COUNT on