Four Seasons Tax & Accounting Inc.

02/19/2026

🚨 ATTENTION: The 1099-DA is here!

If you use Coinbase, check your email or log in to your account ASAP. The new IRS Form 1099-DA (Digital Asset Proceeds) is officially landing in inboxes, and you cannot ignore this one.

What you need to know:

The IRS already has a copy: This isn't just an "information" form for you; Coinbase has sent this data directly to the IRS.

The "Cost Basis" Trap: For 2025, many 1099-DA forms only show your Gross Proceeds (the total amount you sold). If you just enter that number without providing your "Cost Basis" (what you paid), the IRS may assume your cost was $0 and try to tax you on the entire sale amount.

Crypto-to-Crypto counts: Even if you didn't cash out to a bank account, those trades from BTC to ETH are on this form and are taxable events.

Don't file your taxes until you've downloaded this form and reconciled it with your records. If you've already filed, you may need to look into an amendment.

Send a message to learn more

02/01/2026

🕒 Overtime Tax Update

On the Federal level, "tax-free overtime" is now law. Under the One Big Beautiful Bill Act, you can deduct up to $12,500 ($25,000 for joint filers) of your "Premium Overtime Pay" (the extra "half" in time-and-a-half) directly from your federal taxable income.

In Wisconsin, a matching state-level credit is still pending final signature in Madison, but I am monitoring it daily.

Since most 2025 W-2s won't break this number out, providing a final year-end paystub or an employer report will allow me to accurately calculate this deduction for your return.

12/16/2025

The Tax Deadline Train is Leaving the Station! 🚂

It's been a busy few weeks of year-end planning, and here's your friendly accounting PSA: There are only TWO WEEKS left in 2025!

If you're a business owner, this is your absolute last window to make capital purchases that could significantly lower your 2025 tax liability.

Why the Rush? Thanks to tax laws for 2025, you can often write off the full cost (100% deduction) of qualifying equipment, tools, computers, or other business assets. But the asset must be placed in service by December 31st.

Don't leave money on the table just because the clock ran out⏳