Prospera Tax & Accounting

Prospera Tax & Accounting We help home contractors & sole proprietors build profit into every estimate
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Picking a favorite client is like picking your favorite child... I truly love working with you ALL! 🫶But if I had to cho...
03/06/2026

Picking a favorite client is like picking your favorite child... I truly love working with you ALL! 🫶

But if I had to choose, clients that do these things are at the top of my favorites list:

→ upload PDFs (not JPEGs)
→ understand extensions aren’t a bad thing
→ don’t go AWOL on 4/14
→ refer their friends + family to me
→ keep me in the loop on big life changes
→ send proof of their est. tax payments
→ give me a heads up when they start a brand new business

P.S. If this describes you and you're in the market for a new tax accountant, let's talk!

So, you owe taxes this year... boo! ☹️The question now is, how do you actually pay your tax bill?A few of the most commo...
03/04/2026

So, you owe taxes this year... boo! ☹️

The question now is, how do you actually pay your tax bill?

A few of the most common ways are to pay via IRS Direct Pay, withdrawal from your bank account when you file your return, use EFTPS, mail a check or money order, wire, or pay via debit or credit card.

Keep in mind, if you owe taxes, the IRS considers your payment late if it's received after the original tax filing due date (even if you file an extension). 📆

👀 Calling all S corps + partnerships... Your tax returns are due on March 16th this year! 📆Not ready to file yet? That's...
03/01/2026

👀 Calling all S corps + partnerships...

Your tax returns are due on March 16th this year! 📆

Not ready to file yet?

That's okay, filing an extension is totally normal, super easy, and buys you that extra time you need to get your life together.

If you're waiting to file because your books aren't ready, you know who to call!😏

What a great night! Attended the first event for , made connections, and most importantly was able to help answer quest...
02/27/2026

What a great night! Attended the first event for , made connections, and most importantly was able to help answer questions for other small business owners in the area. Praying for a blessed year, and looking forward to more of these!

Say goodbye to your paper refund checks of the past! 👋According to the IRS, they'll now be sending refunds to most taxpa...
02/25/2026

Say goodbye to your paper refund checks of the past! 👋

According to the IRS, they'll now be sending refunds to most taxpayers via direct deposit or other secure electronic methods.

For taxpayers who are unable to use direct deposit, the IRS is working on alternative options like prepaid debit cards and digital wallets.

While this might seem like a huge change, just know that 93% of refunds issued during the 2025 filing season were via direct deposit! 💸

When your tax accountant tells you to set aside money for estimated taxes, here's what they actually want you to do:Calc...
02/25/2026

When your tax accountant tells you to set aside money for estimated taxes, here's what they actually want you to do:

Calculate a portion of your net profit to set aside, park it somewhere you won't accidentally spend it, and don't forget to make your quarterly payments. 💸

I know so many contractors stress about estimated taxes, but it doesn't have to be that way!

If you work with Prospera Tax and Accounting, we provide all of our clients with estimated tax vouchers showing *exactly* how much to pay to avoid costly penalties + stress.

If you're feeling personally attacked by this post... It's time to give me a call! 📲
02/23/2026

If you're feeling personally attacked by this post... It's time to give me a call! 📲

I have so much empathy for taxpayers who are feeling confused about the new tax law changes. It's not easy to sort throu...
02/22/2026

I have so much empathy for taxpayers who are feeling confused about the new tax law changes.

It's not easy to sort through the headlines to figure out which "no tax on ___" applies to you, and what that actually means for your tax return!

In the least-biased take possible, I really do think working with a tax accountant, especially if you're in a traditionally tipped industry, have overtime pay, or live in a high-tax state, is the smartest move this year. 🧠

There's a lot of opportunity to save on your taxes this year, but only if you have the know-how to do so!

If you own a business, it's not as simple as just filing a "business" tax return. The tax form(s) you need to file depen...
02/20/2026

If you own a business, it's not as simple as just filing a "business" tax return.

The tax form(s) you need to file depend on how your business is set up and taxed.

Here's a general breakdown:

Sole Proprietor → Form 1040 + Schedule C

Single-Member LLC → Form 1040 + Schedule C*

Multi-Member LLC → Form 1065 + Schedule K-1*

Partnership → Form 1065 + Schedule K-1*

S Corporation → Form 1120S + Schedule K-1

C Corporation → Form 1120

*Unless you elected to be taxed as an S corporation, then you need to file Form 1120-S and Schedule K-1.

If you aren't sure which tax form you're supposed to file, message me for help!

I personally think the threat of problems with the IRS is a scary enough reason to file your tax return, but there are s...
02/20/2026

I personally think the threat of problems with the IRS is a scary enough reason to file your tax return, but there are some silver linings to filing, too!

Want some reasons that AREN'T just because the government told you so to file your return this year? ↓

The biggest reason is to claim any federal or state tax refund you're owed!

Filing on time is super important because there's a statute of limitations here. ⌛

Wait too long, and your refund could be lost for good!

On that note, you may also be due refundable credits that you'll miss out on if you don't file! 👎

And lastly, your tax return serves as proof of income for a lot of important things you might need, like financial aid, a mortgage, or other loans.

🏡 If you plan to apply for a mortgage any time soon, you definitely want to have filed your last few years of tax returns.

Need help filing your return as a subcontractor? You know where to find me!

My clients are always asking me whether they should itemize or just take the standard deduction...My answer every time? ...
02/17/2026

My clients are always asking me whether they should itemize or just take the standard deduction...

My answer every time? It all depends on your tax situation!

Most taxpayers take the standard deduction. But, if you have HIGHER itemized deductions than the amount of the standard deduction based on your filing status, you’ll probably want to itemize to save more on your taxes!

A few common expenses that can increase your itemized deductions: qualifying medical expenses, state + local taxes, and mortgage interest paid.

This decision may seem straightforward, but it’s always best to consult with your tax accountant to ensure you’re making the best choice for your situation!

The *least bad* thing that happens if you forget one of these on your returns? 👀Maybe you need to amend your return, and...
02/16/2026

The *least bad* thing that happens if you forget one of these on your returns? 👀

Maybe you need to amend your return, and it takes a little longer for the IRS to process! 🤷

The worst-case scenarios?

🥴 Getting an IRS notice that you owe money, or accidentally paying MORE in taxes than you owed!

This is why working with a professional matters; it’s my job to catch these things before you file. 🖥️

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PO Box
Hickory, NC
28601

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