Angell Accounting Associates

Directions Website Contact the business

Angell Accounting Associates Certified Public Accountants , Tax Return Preparation , Accounting Auditing & Bookkeeping Services PayrollAdvisory and Tax Advisory ServicesFax: 740-446-2046

10/07/2026

To my gamblers. Only 90% of gambling losses can be deducted on schedule A compared to 100% of winnings on the 1040. This is for 2026. But 1099s from casinos will be for winning during the year of over $2,000. You are still supposed to report all winnings. Online sports betting is considered gambling winnings along with fantasy sports leagues so be careful.

09/29/2026

There will be a new deduction for charity without itemizing deductions for 2026 of $1,000 for singles and $2,000 for married couples. This is nice

09/29/2026

For parents to deduct student loan interest they paid they must be legally liable for the loan either as a co-signer or the borrower. Children can deduct interest parent pay on their behalf as a gift from the parent

09/29/2026

Teachers your expense deduction for 2026 tax returns will be $350. Please save your receipts. Also for 2026 preschool teachers can use this deduction. This incluee de s professional development books supplies and classroom materials

09/23/2026

The mileage rate has been raised to 76 cents per mile for business for the last six months of 2026. The medical and military travel rates raise to 23.5 cents per mile. Charitable mileage rate remains at 14 cents per mile

09/17/2026

There are tax rule changes on damage awards or settlement proceeds. Amounts received for physical injuries or physical illness are nontaxable. Money received for emotional distress is generally taxed. If the emotional distress is caused by physical injuries or if there are bills for medical treatment those funds are nontaxable. Lost wages due to injury are taxed. You are taxed on the total amount paid not the amount less attorney fees in most cases. Make sure everything is defined well in your settlement. My complaint when u come to see me afterwards is that there was a lump sum payment and I can’t prove what was paid for what. Call if you have questions before signing paperwork and getting the check

12/24/2025

Trump accounts for children. There will be a portal opening in 2026 or form 4457 to open the accounts. They will have a lot of attributes of Ira’s with distinctive differences. Children born in 2025 thru 2029 get $1,000 from the government. Up to $5,000 a year can be added until age 18 and employers can contribute $2,500 tax free by a parent or child’s employer. Children up to age 10 in certain zip codes of which southeastern Ohio mostly qualifies will be eligible for $250 from the Dell computer family. Nice programs

11/20/2025

Anyone with Medicare. IRMA kicks in at $212,000 for married couples $106,000 for singles. If your agi on your tax return is over that amount. Your Medicare will cost you extra in 2027. It is always a surprise when u get the notice so I am trying to get a heads up for the clients this year

11/19/2025

Starting in 2026 filed in 2027 we can deduct $1,000 in charity without itemizing. Save your receipts next year. Has to be a real church or charity not a go fund me to help a specific family.

One more piece of information on 529 plans if you have unused 529 tuition funds for a child up to $10,000 can be paid on...
09/30/2025

One more piece of information on 529 plans if you have unused 529 tuition funds for a child up to $10,000 can be paid on student loans tax free from the funds. This is a lifetime limit. So if your child got a scholarship and didn’t need their funds and their sibling did not funds can be transferred between plans and payments made on the siblings student loans tax free

Address

736 2nd Avenue
Gallipolis, OH
45631

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Website

Alerts

Be the first to know and let us send you an email when Angell Accounting Associates posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Angell Accounting Associates:

Shortcuts

Share

Category