Perrin Tax and Accounting Services

07/20/2026

Form 1099-K – Did You Know?

If you receive a Form 1099-K, review it for payments that may not be taxable, such as reimbursements from friends or family. If these payments were mistakenly included, ask the payment processor to issue a corrected form. Keep in mind that some transactions involving personal items may still have tax consequences, particularly if you sold an item for more than you paid for it.

07/17/2026

Providing a gift of stock can make sense if handled properly. Read more.

Providing a gift of stock (or other property) to a friend or loved one can be a powerful tax planning tool. However, it is not without its complications.

07/14/2026

Increased Standard Mileage Rates Starting July 1, 2026

Due to higher fuel prices, the IRS has increased the standard mileage rate for business driving to 76 cents per mile for mileage incurred on or after July 1, 2026. The rates for medical travel and eligible moving expenses have also increased to 23.5 cents per mile.

The charitable mileage rate remains unchanged at 14 cents per mile, while the previously announced 2026 rates continue to apply to mileage incurred before July 1.

07/10/2026

Tax season doesn’t have to feel confusing. Perrin Tax & Accounting Services breaks down personal and business tax prep in clear, plain language—so you know what matters, what doesn’t, and what to do next. With local North Alabama roots and a team that stays current through continual education, you get fast, accurate work and a trusted advisor who’s actually responsive. If you’re ready to cut through the complexity and make smarter decisions with confidence, this is the guide you’ve been looking for.

https://www.perrintaxandaccounting.com

07/10/2026

Pass-through entities such as S corporations and certain partnerships offer legal protections and avoid double taxation. Does it make sense for your business?

Given the popularity of this business format, it continues to drive tax policy. Here is what you need to know.

07/06/2026

Employer-Provided Childcare Tax Credit – Did You Know?

Businesses that offer childcare benefits to employees may qualify for the Employer-Provided Childcare Tax Credit for some of the expenses involved. Eligible costs may include acquiring, constructing, or improving a childcare facility, operating an on-site childcare program, contracting with a qualified childcare provider, or paying for childcare resource and referral services.

Beginning in 2026, the credit generally equals 40% of qualified childcare expenditures (or 50% for eligible small businesses) plus 10% of qualified childcare resource and referral expenses. The maximum annual credit has also increased to $500,000, or $600,000 for eligible small businesses.

07/03/2026

The ensure you're ready for an audit, tax returns should be kept indefinitely and supporting documents should be kept a minimum of three years.

After filing your tax return, do not close the book on your taxes until you have set up next year's files, purged unneeded old records, and prepared your records in case of an audit. Here are some tips.

07/01/2026

Side hustle income, tax tips, smarter food budgeting, and the growing trend of unplugging from screens. This month's insights can help you keep more money and spend more time on what matters.

Many Americans are taking on side hustles and part-time jobs to boost their income. While earning extra money can help pay for vacations or provide a financial cushion for your family, it can also increase your tax bill. In this month's newsletter, learn how additional income may affect your tax sit...

06/29/2026

Digital Asset Tax Reporting – Did You Know?

If you use a broker for digital asset transactions, such as selling, exchanging, or otherwise disposing of cryptocurrency or other digital assets, you may receive Form 1099-DA. Keep this form with your tax records, as you will need it to accurately report those transactions on your tax return.

06/26/2026

It's not always a good idea to amend a tax return. Do you know how to choose?

Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.