Westen, Graff & Co.

04/14/2026

📢 Tax Season Deadline Update! 📢

Our office will be open:
🕘 April 14th: 9:00 AM – 7:00 PM
🕘 April 15th: 9:00 AM – 5:00 PM

⏰ Important Reminder:
All completed tax returns must be picked up by 12:00 PM (noon) April 15th in order to be filed on time.

✔️ If your return is complete and you’ve been notified, but you’re unable to pick it up by the noon deadline, you will need to request an extension.

✔️ If you dropped off your documents and have not yet been notified that your return is complete, we will automatically file an extension on your behalf.

📅 Our office will be closed Thursday, Friday and Saturday.
We will reopen with off-season hours starting Monday, April 20th.

💙 Thank you for another busy and successful tax season—we truly appreciate your trust and support!

04/05/2026

Client Update Newsletter: April 2026
Anniversaries have a way of bringing forgotten pieces of history back into view. As the United States marks 250 years of independence in 2026, we're reminded that money has shaped our national story in surprising and sometimes strange ways. In this month’s newsletter, test your own knowledge about the history of taxes in America.

Also learn about 7 financial facts and how they apply to your financial situation, how to organize your financial spring cleaning to have it pay dividends throughout the year, and get a better understanding of the tech ideas people tend to accept without questions.

As always, should you have any questions, please call. And feel free to forward this information to someone who could use it!

Contents
Annual Tax Quiz -American History Edition
7 Interesting Financial Facts
Spring Cleaning That Pays You Back All Year
The Tech Myths We Keep Falling For
Annual Tax Quiz -American History Edition
Annual Tax Quiz American History Edition imageThis year marks 250 years of American independence, which also means two-and-a-half centuries of spirited debate over taxes. From the nation’s earliest days, revenue has been raised in inventive, controversial, and occasionally head-scratching ways, often followed closely by creative attempts to avoid it. To mark this anniversary, our annual tax quiz explores the lesser-known, stranger corners of U.S. tax history.

In the 1790s, the federal government imposed a tax that sparked armed resistance in western Pennsylvania. What was the tax actually on?
A. Horse ownership
B. Whiskey distillation
C. Imported tea
D. Playing cards

B – The Whiskey Tax wasn’t aimed at casual drinkers but at distillers, many of whom were small frontier farmers turning grain into shelf-stable income. To them, the tax felt like a coastal money grab, and protests escalated into the Whiskey Rebellion. George Washington personally led troops to put it down, proving two things early on – the federal government would enforce tax laws, and Americans would complain loudly about them.
During the Civil War, Congress briefly experimented with a federal income tax. What was one unexpected thing taxpayers were allowed to deduct?
A. Bribes paid to avoid the draft
B. The cost of hired farm labor
C. Losses from shipwrecks
D. Beard-grooming expenses

C – Shipwreck losses. In an era when commerce moved by sea and river, losing a shipment to a wreck was a real business risk. The government recognized this long before it figured out depreciation schedules or standardized forms. Sadly for the bearded, personal grooming never made the cut.
In the early nineteenth century, tariffs were the federal government’s main revenue source. Which item was once considered so politically dangerous to tax that it helped trigger a constitutional crisis?
A. Wool coats
B. Iron nails
C. Imported hats
D. Cheap British textiles

D – Cheap British textiles. Protective tariffs raised prices on imported cloth to support American manufacturers, but Southern states relied heavily on imports and exports. The resulting tariff fights fueled the Nullification Crisis, where South Carolina flirted with ignoring federal law entirely. It turns out fabric can tear a nation, metaphorically and almost literally.
Before payroll withholding existed, how did many Americans pay their income taxes during World War II?
A. By mailing cash in envelopes
B. Through quarterly visits from IRS agents
C. In a single painful lump sum
D. With war bonds only

C – One lump sum. Taxpayers were expected to save throughout the year and then pay all at once, which went about as well as you’d expect. Withholding was introduced partly to fund the war efficiently and partly to stop widespread shock, confusion, and strongly worded letters to Washington, D.C.
In 1895 the Supreme Court ruled a federal income tax was unconstitutional. What was the main reason?
A. It unfairly targeted farmers
B. It violated states’ rights
C. It wasn’t apportioned among the states
D. Congress forgot to define income

C – Apportionment. The Constitution required certain taxes to be divided among states based on population, not income. The income tax didn’t do that, so it failed on technical grounds. The 16th Amendment later fixed this, proving that sometimes the solution to tax problems is more paperwork at the federal level.
At various points in U.S. history, Congress has taxed purely to change behavior rather than raise money. Which of these was explicitly intended to discourage its use?
A. Colored margarine
B. Wooden houses
C. Cheap paper
D. Public theaters

A – Colored margarine. To protect dairy farmers, from the 1880s to 1950 Congress taxed margarine that was artificially colored to look like butter. The result was grayish margarine and widespread consumer resentment. Eventually, common sense – and better food science – prevailed.
How Did You Score?
5 – 6 correct: You could probably audit the 18th century. Historians salute you, accountants trust you, and the IRS would like to know your availability for consulting.

3 – 4 correct: You may not be ready to draft tax policy, but you’d absolutely survive a colonial tavern debate about whiskey taxes.

1 – 2 correct: Consider this your official introduction to the wonderfully strange world of U.S. tax history, and a reminder that some of these questions would have puzzled people in the actual centuries they happened.

7 Interesting Financial Facts
Money touches nearly every part of our lives, yet many people are surprised by how common certain financial behaviors actually are. Here are 7 interesting financial facts that highlight real trends in personal finance, along with practical tips to help you make smarter decisions.

7 Interesting Financial Facts imageFact #1: 46% of Americans with credit cards carry a balance from month-to-month. Nearly half of credit card users revolve a balance at some point during the year. Carrying a balance means paying interest, which can often exceed 20% annually.

Financial tip: Use credit cards like a debit card. Only charge what you can pay off in full each month. If you already carry a balance, consider the avalanche method – pay extra toward the card with the highest interest rate while making minimum payments on the others.
Fact #2: 73% of taxpayers receive a tax refund each year. While a refund can feel like a financial windfall to some, it actually represents an interest-free loan to the government.

Financial tip: Consider adjusting your tax withholding if your refund is very large. Take the extra money in your paychecks and redirect it into savings or investments.
Fact #3: Americans hold over $1.67 trillion in auto loan debt. With rising car prices, more buyers rely on financing, often stretching loan terms to keep monthly payments manageable.

Financial tip: When buying a car, focus on the total cost rather than just the monthly payment. Shorter loan terms and larger down payments can significantly reduce the interest you pay over time.
Fact #4: 40% of U.S. homeowners own their homes without a mortgage. A growing share of homeowners have fully paid off their homes.

Financial tip: Even if paying off your mortgage early is appealing, balance this goal with other priorities such as retirement savings and emergency funds.
Fact #5: U.S. households owe about $18.8 trillion in total debt. Mortgage debt accounts for the majority of this amount, followed by auto loans, student loans, and credit cards. Debt can help people achieve major life goals like homeownership or education, but too much can limit financial flexibility.

Financial tip: Track your debt-to-income ratio. While having no debt is the ideal situation, keeping monthly debt payments below about one third of your income can help maintain some financial stability.
Fact #6: 67% of Americans have little to no savings after each paycheck. Rising housing costs, inflation, and everyday expenses have made it difficult for many households to build savings.

Financial tip: Start with small, automatic savings. Even setting aside a small amount from each paycheck can build meaningful financial security over time.
Fact #7: 54% of working-age Americans have some form of post-secondary education. More than half of U.S. adults have continued their education beyond high school through a variety of paths – including four-year colleges, community colleges, trade schools, technical programs, and professional certifications.

Financial tip: If you’re considering additional education or training, evaluate the return on investment before committing. Sometimes shorter programs, certifications, or trade schools can provide strong earning potential with significantly lower costs than a traditional four-year degree.

Spring Cleaning That Pays You Back All Year
Spring Cleaning That Pays You Back All Year imageSpring cleaning isn’t really about dust or closets. It’s about deciding what earns space in your life. Your money deserves the same treatment. Instead of rushing through financial tasks you may only do once per year, such as reviewing your credit report or insurance policies, treat them as a deliberate spring financial checkup.

Done thoughtfully, this annual reset can pay dividends all year by helping you cut unnecessary costs, uncover hidden money, and put smarter systems in place that keep working long after the cleaning is finished. Here are some ideas to get you started.

Create a once-a-year money map. Step back and take in the full landscape of your finances. Update your list of accounts, check that beneficiaries are correct, refresh important passwords, and review your credit report. This is also a good moment to scan your bill schedule so nothing slips through the cracks. Think of it as creating a clear financial map before making any changes.
Turn forgotten clutter into cash. Your home and your accounts may be holding money you forgot about. Sell items you no longer use, redeem credit card rewards, and close old accounts quietly collecting dust. It’s also worth searching for unclaimed funds through your state’s database. Small discoveries add up quickly when you sweep through every corner.
Plug quiet money leaks. Recurring expenses have a way of multiplying unnoticed. Review your subscriptions, streaming services, insurance policies, and monthly utilities. Cancel what you no longer use and call providers to ask about better rates. A quick round of comparison shopping can also reveal cheaper options. These small trims often lower your costs for the rest of the year.
Recalibrate the systems that grow your savings. Revisit your emergency fund and any sinking funds for upcoming expenses. If your income has grown or bills have dropped, increase automatic transfers even slightly. Small adjustments here tend to compound quietly month after month. Once the system is updated, your savings can keep growing without extra effort.
Tighten the bolts on your debt reduction strategy. Review your balances, interest rates, and current repayment strategy. You may find opportunities to refinance, consolidate, or shift extra payments toward the highest-interest debt. The goal isn’t to reinvent your entire plan. It’s simply to tighten the bolts so your payoff strategy stays efficient and moving forward.
Realign your goals with the life you’re living now. Take time to revisit both short- and long-term financial goals. Some priorities may have shifted since last year, and timelines may need adjusting. This is your chance to make sure your money is still moving toward what matters most today. When your spending, saving, and investing reflect your current priorities, your financial plan becomes far easier to follow.
A deliberate spring financial reset can have a lasting impact throughout the upcoming year. By reviewing key accounts, trimming waste, and realigning your goals, you can create a stronger system that supports your finances long after spring ends.

The Tech Myths We Keep Falling For
The Tech Myths We Keep Falling For imageTechnology often arrives wrapped in promises – faster, smarter, simpler. But many of the beliefs we carry about it aren’t truths at all. They’re myths about how technology actually works and what it can really do. Here are a few of the myths we keep falling for, and some ideas on how you can see past them.

Myth: Automation always saves time
Automation is sold as a shortcut to efficiency, and sometimes it is. This myth grew alongside productivity software and workplace tech that promised to eliminate busywork. What rarely gets mentioned is the time spent learning tools, fixing edge cases, and managing the systems meant to save us time. We believe this myth because we’re exhausted and deeply motivated to accept anything that promises relief.

Move beyond the myth: Pick one automated tool you rely on and track how much time it actually saves you over a week. If it’s not a net win, consider simplifying or even doing the task manually again.

Myth: Newer tech is always better
The tech industry thrives on upgrades, roadmaps, and constant iteration. The belief that newer equals better was born from genuine innovation but became a marketing shortcut. We believe it because progress feels linear, and because nobody wants to feel left behind. Older tools, however, often worked just fine and sometimes better for specific needs.

Move beyond the myth: Revisit an older tool or workflow you abandoned and ask why you stopped using it. You might find that the older option fits your actual needs more cleanly than its shiny replacement.

Myth: Everyone else understands technology better than you
This myth grows quietly, fueled by jargon, rapid change, and a culture that celebrates expertise while hiding confusion. It survives because people rarely admit when they’re lost, creating the illusion that everyone else has it figured out. We believe it because tech often presents itself as something you either get or don’t, with little room for learning in between.

Move beyond the myth: The next time you’re confused by a piece of technology, say it out loud to someone you trust. Chances are high they’re just as confused, and naming it breaks the spell of imagined competence.

Myth: Data tells the whole truth
Data-driven decision-making sounds like clarity in a messy world. This myth was born from real successes in analytics and measurement, then stretched beyond its limits. We believe it because numbers feel solid and arguments backed by charts feel safer than intuition. What gets overlooked is that data reflects what we choose to measure, not everything that matters.

Move beyond the myth: When you encounter a statistic that feels definitive, ask what wasn’t measured or couldn’t be quantified. That question often reveals the story hiding behind the numbers.

Technology will keep evolving, but the stories we tell about it matter just as much as the tools themselves. Questioning these myths won’t slow progress. It simply helps you use technology with clearer eyes and better judgment.

03/16/2026

❄️ Snowstorm Update! ❄️

While the snow may have everything else shut down, our Client Portal is still open and working hard for you! 💻

No need to venture out in the cold — you can upload your tax documents anytime through the secure TaxDome client portal from the comfort of your couch (blanket and hot cocoa highly recommended ☕).

Stay safe, stay warm, and let technology do the traveling today!

03/06/2026

Client Update Newsletter: March 2026
March is all about momentum, especially when it comes to planning ahead for 2026. In this month’s newsletter, we explore why your tax planning cycle begins now and share practical steps to help you get started in the right direction.

A key part of this strategy is understanding the difference between tax credits and tax deductions. While both can reduce what you owe, one often delivers significantly greater impact. We break down how each works and why the distinction matters.

We also zoom out to take a broader financial view, offering practical retirement planning insights tailored to every stage of life. Finally, we look at how cybercriminals are finding ways around two-factor authentication and why adopting a layered security approach is becoming essential to protecting your online accounts and personal information.

As always, should you have any questions, please call. And feel free to forward this information to someone who could use it!

Contents
Your Tax Planning Cycle Starts Now
Understanding Tax Credits vs. Deductions
Retirement Tips for Every Age
The Great Two-Factor Authentication Evasion
Your Tax Planning Cycle Starts Now
Filing your 2025 tax return may feel like crossing a finish line. In reality, this moment is the starting point for smart tax planning during 2026. Here are several ideas to kick start your own tax planning cycle.

Your Tax Planning Cycle Starts Now imageIf you get a big refund, adjust your withholdings. A large refund may feel rewarding, but it often means you gave the government an interest-free loan all year. This money could have supported debt reduction, savings, or investments, instead. After filing, revisit your Form W-4 and run a projection for 2026. Fine-tuning your withholding improves monthly cash flow and reduces the likelihood of over-correcting later in the year.

If you have a big tax bill, review estimated tax payments. A significant balance due is more than an inconvenience. It may signal under-withholding or insufficient quarterly estimates. Early in the year is the ideal time to correct course. Review income sources, especially self-employment, investment, or bonus income, and adjust estimated payments accordingly.

Plan now to take advantage of the $1,000 above-the-line charitable donation deduction. With an above-the-line charitable deduction available ($2,000 for married couples), thoughtful giving becomes even more strategic. Consider your cash flow to optimize the timing of donations. Spreading contributions across the year may make budgeting easier, while ensuring you fully utilize the deduction.

Review retirement contribution limits for 2026. Confirm contribution limits for IRAs, 401(k)s, and other qualified plans for 2026, and evaluate whether you can increase deferrals. Even modest monthly adjustments can significantly reduce taxable income over the course of a year. Starting early also makes it easier to reach maximum contribution thresholds without straining year-end cash flow.

Plan HSA contributions and medical expenses. Health Savings Accounts offer a rare triple tax benefit – deductible contributions, tax-free growth, and tax-free qualified withdrawals. Review eligibility, contribution limits, and anticipated medical expenses for 2026. Coordinating planned procedures, prescriptions, or ongoing care with your funding strategy can enhance the tax benefit while keeping healthcare spending organized and predictable.

Take into account life events. Major life changes often reshape your tax profile. Marriage can alter filing status and bracket exposure. Divorce may affect dependency claims and support payments. A new child can unlock credits and deductions. Anticipating these shifts allows you to update withholding, adjust estimated payments, and plan eligibility for credits before the year unfolds.

Pay attention to no tax on tips and overtime. Accurate tracking becomes essential if you receive tip and/or overtime income. Confirm how your employer reports this income and ensure payroll systems reflect proper treatment. Employers and business owners must also review compliance procedures. Understanding how these earnings are classified early in the year helps prevent reporting errors and maximizes any available benefit.

The most effective tax strategies are built early. Use your filed 2025 tax return as a starting point, make adjustments now, and give your 2026 plan room to work in your favor.

Understanding Tax Credits vs. Deductions
Understanding Tax Credits vs Deductions imageTax credits are some of the most valuable tools around to help cut your tax bill. But figuring out how to use these credits on your tax return can get complicated very quickly. Here's what you need to know.

Understanding the difference
To help illustrate the difference between a credit and a deduction, here is an example of a single taxpayer making $50,000 in 2025.

Tax Deduction Example:Gee I. Johe earns $50,000 and owes $5,000 in taxes. If you add a $1,000 tax deduction, he'll decrease his $50,000 income to $49,000, and owe about $4,800 in taxes.

Result: A $1,000 tax deduction decreases Gee's tax bill by $200, from $5,000 to $4,800.
Tax Credit Example: Now let's assume Gee has a $1,000 tax credit versus a deduction. Gee's tax bill decreases from $5,000 to $4,000, while his $50,000 income stays the same.

Result: A $1,000 tax credit decreases your tax bill from $5,000 to $4,000.
In this example, your tax credit is five times as valuable as a tax deduction.

Credits are usually worth more
Credits are generally worth much more than deductions. However there are several hurdles you have to clear before being able to take advantage of a credit.

To illustrate, consider the popular child tax credit.

Hurdle #1: Meet basic qualifications
You can claim a $2,200 tax credit for each qualifying child you have on your 2025 tax return. The good news is that the IRS's definition of a qualifying child is fairly broad, but there are enough nuances to the definition that Hurdle #1 could get complicated. And then to make matters more complicated...

Hurdle #2: Meet income qualifications
If you make too much money, you can't claim the credit. If you're single, head of household or married filing separately, the child tax credit completely goes away if you exceed $240,000 of taxable income. If you're married filing jointly, the credit disappears above $440,000 of income.

Hurdle #3: Meet income tax qualifications
To claim the entire $2,200 child tax credit, you must owe at least $2,200 of income tax. For example, if you owe $3,000 in taxes and have one child that qualifies for the credit, you can claim the entire $2,200 credit. But if you only owe $1,000 in taxes, the maximum amount of the child tax credit you can claim is $1,700.

Take the tax credit...but get help!
The bottom line is that tax credits are usually more valuable than tax deductions. But tax credits also come with lots of rules that can be confusing. Please call to schedule a tax planning session to make sure you make the most of the available tax credits for your situation.

Retirement Tips for Every Age
Retirement Tips for Every Age imageSaving for retirement is not a one size fits all journey, as each stage of life comes with different priorities, pressures, and opportunities. No matter where you are in your journey, here are savings tips from established financial publications and organizations to consider for every age.

In Your Twenties – Building Early Habits
For many people, this decade is less about large balances and more about establishing patterns. Financial education outlets frequently emphasize the long runway available to younger savers. Investopedia.com discusses the long term impact of starting early and allowing time to work in your favor.

Common themes during this stage include:

Developing a regular saving habit, even in small amounts
Exploring employer sponsored retirement plans, when available
Learning basic investment concepts over time
Treating retirement contributions as part of monthly expenses
Expanding skills and experience that may increase earning potential
In Your Thirties – Adding Structure
As careers and family responsibilities grow, retirement planning often becomes more deliberate. For example, Charles Schwab provides a decade-by-decade overview of how retirement priorities may shift during this phase of life.

Conversations during this decade often revolve around:

Reviewing contribution levels as income changes
Understanding how employer matching programs work
Paying attention to debt and interest costs
Considering how lifestyle decisions shape long term finances
Evaluating career growth or additional income opportunities
In Your Forties – Taking Inventory
Mid-career can be a natural time to assess progress and revisit long term projections. Many financial institutions have programs that address these topics.

Topics frequently discussed include:

Reviewing current balances alongside projected needs
Understanding how high interest debt may affect cash flow
Identifying gaps between current savings and future income goals
Revisiting contribution levels and investment allocations
Checking Social Security earnings records for accuracy
Considering whether new income streams may strengthen retirement readiness
In Your Fifties and Sixties – Focus on the Finish Line
As retirement moves closer, planning conversations often shift toward income timing and lifestyle expectations. AARP maintains a retirement resource center that covers considerations commonly discussed in the years leading up to retirement.

Areas that frequently come into focus include:

Continuing to save where possible
Eliminating or reducing outstanding debt
Thinking through retirement timelines and income sources
Factoring healthcare and lifestyle preferences into cost expectations
Clarifying what retirement may look like day to day
Timeless Principles That Apply at Any Age
No matter where you fall on the timeline, a few core ideas always support progress.

Automate savings to remove decision fatigue
Avoid comparing your progress to others with different circumstances
Revisit your plan occasionally rather than ignoring it entirely
Focus on what you can control today
The Bottom Line – Start Where You Are
Retirement planning is not about catching up to someone else’s path. It is about making the best decisions you can with the resources you have right now. Wherever you are starting from, taking action today creates options for tomorrow.

The Great Two-Factor Authentication Evasion
Cybercriminals are sidestepping two-factor authentication. Here's how you can stay ahead.

The Great TwoFactor Authentication Evasion imageEvery day, cybercriminals try to access bank accounts, take over email inboxes, and harvest personal information using passwords purchased in bulk from underground marketplaces. Using two Factor Authentication (2FA), also known as multi-factor authentication, is a way to help block these break-ins by requiring a second form of verification. As you might expect, attackers are adapting and learning how to work around it.

Here's a look at how criminals are getting past 2FA and how adding more security layers can help you.

How thieves are circumventing 2FA
In response to widespread use of 2FA, underground forums began sharing phishing kits, SIM-swapping playbooks, and malware designed specifically to intercept verification codes and session tokens. What started as basic credential harvesting evolved into coordinated, real-time attacks built to outmaneuver 2FA rather than defeat it outright.

Most methods of sidestepping 2FA involve exploiting human behavior rather than breaking encryption. Attackers capitalize on urgency, confusion, distraction, and trust, to manipulate you into approving login requests or sharing verification codes that were meant to keep intruders out. Because these attacks target weaknesses that exist beyond the password itself, meaningful protection must extend beyond relying on 2FA alone.

Strengthening Online Protection Beyond 2FA
Here are some tips to help protect your accounts from theft.

Use authenticator apps or hardware security keys instead of SMS-based codes. Text messages can be intercepted or redirected through SIM-swapping schemes, while authenticator apps generate time-based codes on your device and hardware keys require physical interaction, making remote compromise far more difficult.

Enable biometric authentication where available. Fingerprints or facial recognition add a personal, physical layer to the login process, limiting the usefulness of stolen credentials and reinforcing account access with something uniquely tied to you.

Monitor account activity and enable login alerts. Real-time notifications about new devices or unusual sign-ins allow you to respond quickly, reset credentials, and prevent further unauthorized access before damage escalates.

Practice phishing awareness by checking URLs, avoiding suspicious links, verifying requests. Many attacks hinge on deception, so slowing down to confirm website addresses and independently validate urgent messages can stop credential theft in its tracks.

Use strong, unique passwords with a password manager. Password managers generate complex combinations and prevent reuse across accounts, reducing the impact of data breaches and credential stuffing attacks.

Keep devices updated to reduce malware risk. Software updates patch known vulnerabilities that attackers actively exploit to steal session tokens, capture keystrokes, or install surveillance tools.

Consider identity monitoring services for high-value accounts. These services can alert you when personal information appears in breach databases or underground marketplaces, giving you time to change things before your data is sold to someone who will attempt to attack your accounts.

Encourage adopting a layered security mindset. Combining multiple safeguards creates overlapping protection, making it significantly harder for attackers to bypass your defenses.

Two-factor authentication remains a powerful online defense, but true digital resilience comes from layering protections. As cyber threats evolve, your security strategy must do so as well.

Investopedia is the world's leading source of financial content on the web, ranging from market news to retirement strategies, investing education to insights from advisors.