Honey Bee Tax Solutions

05/27/2026

Are you or do you know someone interested in Webb City, MO Senior Citizen Center happenings and news? Check out their FB page! If you feel you are too young, find a way to support your local centers so they will be there when you level up enough. https://www.facebook.com/profile.php?id=61589849773219

A place where those that are 55 and up can come enjoy activities, such as bingo, crafts, dance, exercise, food, and fellowship.
Come on by and check us out. We always love making new friends and seeing our old friends too. 🥰

04/30/2026

When the day gets tough, the tough…put on fuzzy bee slippers and keep on buzzin!

04/06/2026

With the filing deadline less than 10 days away, we can still help you with your taxes! Just be aware, we are now at the Extension Filing portion of the season.

03/13/2026

When taxes have you flying in circles, it's nice to know you have a friend to lend a hand!

03/09/2026

🐝 Important Tax Deadline for Businesses

If your business is set up as a Partnership or S-Corporation, your tax return deadline is coming up soon.

📅 March 16 is the filing deadline for:
• Form 1065 (Partnerships)
• Form 1120-S (S-Corporations)

These business returns are due one month earlier than individual tax returns.

Even if you’re not ready to file yet, an extension must still be filed by March 16 to avoid late-filing penalties.

If you’re still gathering documents or have questions, now is a good time to reach out so nothing gets missed.

03/06/2026

Did you know honey bees begin becoming more active as temperatures warm and early spring flowers start to bloom? 🐝

Some of the first food sources they find are plants many people consider weeds. Clover and dandelions can actually be lifesavers for early-rising pollinators, so don’t bee too quick to mow them down!

Around here, that means two things: the bees are getting busy… and so is Tim. He’s been hard at work preparing tax returns and helping our clients wrap up tax season smoothly.

Busy bees, busy tax pros!

02/23/2026

With so many complicated details in the OBBBA, getting assistance from a professional tax preparer can help navigate the confusion. We'd love to be your resource this tax season. Call today to schedule an appointment or a free consultation.

Under the One Big Beautiful Bill Act (OBBBA), enacted in July 2025, the Child Tax Credit (CTC) has undergone permanent expansion and eligibility changes.

Key CTC Provisions Under OBBBA
• Increased Credit Amount: The maximum credit is permanently increased to $2,200 per qualifying child for 2025 and 2026, up from the previous $2,000.
• Permanence & Inflation Indexing: The OBBBA made the expanded CTC permanent. Starting in 2026, the $2,200 maximum will be indexed annually for inflation to prevent "benefit erosion".
• Partial Refundability: Up to $1,700 of the credit remains refundable (the Additional Child Tax Credit) for families whose tax liability is zero, provided they have at least $2,500 in earned income.
• Stricter ID Requirements: To claim the credit, both the child and the claiming taxpayer (or at least one spouse on a joint return) must have a valid Social Security Number (SSN). Taxpayers using an ITIN are no longer eligible.
• Income Phaseouts: The full credit is available for single filers with a Modified Adjusted Gross Income (MAGI) up to $200,000 and married couples up to $400,000. Above these levels, the credit decreases by $50 for every $1,000 of additional income.

02/16/2026

With so many complicated details in the OBBBA, getting assistance from a professional tax preparer can help navigate the confusion. We'd love to be your resource this tax season. Call today to schedule an appointment or a free consultation.

The One Big Beautiful Bill Act (OBBBA), signed in July 2025, made the nearly doubled standard deduction from the 2017 Tax Cuts and Jobs Act (TCJA) permanent and provided further increases for the 2025 and 2026 tax years. For 2026, the standard deduction rises to $16,100 for single filers and $32,200 for married couples filing jointly.

Key Standard Deduction Amounts
The OBBBA established the following base amounts, which are indexed annually for inflation:
• Single / Married Filing Separately: $15,750 in 2025; $16,100 in 2026.
• Married Filing Jointly: $31,500 in 2025; $32,200 in 2026.
• Head of Household: $23,625 in 2025; $24,150 in 2026.
Enhanced Deductions for Seniors (65+)
The OBBBA introduced a two-tier benefit for seniors, providing significant tax relief for those with qualifying income levels:
1. Additional Standard Deduction (Permanent): Seniors or blind taxpayers receive an extra amount on top of the base deduction. For 2026, this is $2,050 for single/head of household and $1,650 per qualifying individual for married filers.
2. New Senior Deduction (Temporary through 2028): A separate $6,000 deduction ($12,000 for joint filers) is available even for those who itemize. This benefit begins to phase out at a Modified Adjusted Gross Income (MAGI) of $75,000 for single filers and $150,000 for joint filers.
Notable Auxiliary Provisions
• Charitable Deduction for Non-Itemizers: Starting in 2026, taxpayers who take the standard deduction can also claim an "above-the-line" deduction for cash donations up to $1,000 ($2,000 for joint filers).
• Personal Exemptions: The OBBBA permanently set personal and dependent exemptions at $0, continuing the structure where the larger standard deduction serves as the primary tax-free income threshold.
• Itemization vs. Standard Deduction: The act significantly expanded the State and Local Tax (SALT) deduction cap to $40,000 (indexed for inflation in 2026 to $40,400), which may lead more taxpayers to choose itemizing over the standard deduction compared to previous years.
Under the One Big Beautiful Bill Act (OBBBA), enacted in July 2025, the Child Tax Credit (CTC) has undergone permanent expansion and eligibility changes.

02/11/2026

Did you claim Earned Income or Additional Child Tax credits on your return? Still waiting on your refund? The Path Act was passed a few years ago. This bill delays returns with these credits to help protect we the people. Unfortunately, you'll still be waiting. The good news, we have a date. These refunds should start getting to taxpayers March 2, 2026!

Find out when to expect your refund if you claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC).

02/09/2026

With so many complicated details in the OBBBA, getting assistance from a professional tax preparer can help navigate the confusion. We'd love to be your resource this tax season. Call today to schedule an appointment or a free consultation.

The One Big Beautiful Bill (OBBB) Act, signed into law on July 4, 2025, permanently eliminates the deduction for personal and dependent exemptions. These exemptions, which were originally suspended by the 2017 Tax Cuts and Jobs Act (TCJA), were scheduled to return in 2026 but will now remain at $0 indefinitely under the OBBB Act.

Key Points:
-Permanent Repeal: The personal and dependency exemption deductions are permanently removed starting in 2026.
-Replacement Mechanism: The value of the eliminated exemptions is roughly offset by the OBBB Act's permanent expansion of the Standard Deduction and the Child Tax Credit (CTC).
-Standard Deduction Offsets (2026):
o $16,100 for single filers.
o $32,200 for married couples filing jointly.
o $24,150 for heads of household.
-Child Tax Credit Expansion: The CTC is permanently set at $2,200 per qualifying child and is indexed for inflation starting in 2026.
-Senior Deduction Exception: While standard exemptions are gone, a temporary $6,000 deduction for seniors aged 65+ is available from 2025 through 2028, subject to income phaseouts starting at $75,000 (single) or $150,000 (joint).
-Dependent Definitions Still Apply: Although the monetary deduction for dependents is $0, the legal rules for determining who qualifies as a "dependent" remain in place to determine eligibility for other benefits like the Child Tax Credit and the Head of Household filing status.