Neighborhood Electronic Tax Office

Neighborhood Electronic Tax Office Neighborhood Electronic Tax Office LLC specializes in Tax Preparation Service for Individuals and Small Businesses.

College student-athletes can now be legally paid for the use of their “name, image and likeness” (NIL) without risking N...
07/14/2026

College student-athletes can now be legally paid for the use of their “name, image and likeness” (NIL) without risking NCAA eligibility. But if you support an athlete through NIL contributions, know that payments made directly to student-athletes aren’t tax-deductible. Contributions to organizations commonly called “collectives” may be deductible, but be sure to clear three key hurdles: 1) Itemize deductions on your return, 2) give only to a collective that’s a tax-exempt charity, and 3) don’t earmark payments for specific athletes or make them in exchange for substantial benefits, such as season tickets. Contact us at (478) 788-7334 to learn more.

You’ll probably owe tax on your retirement income — how much depends on factors such as the types of retirement accounts...
07/13/2026

You’ll probably owe tax on your retirement income — how much depends on factors such as the types of retirement accounts you own and your other income sources. In general, retirees should withdraw funds from any taxable accounts first, tax-deferred accounts second and tax-free accounts last. But different withdrawal strategies may benefit you. The important thing is to start planning before you retire. Call us at (478) 788-7334 for help.

The IRS has expanded its Business Tax Account (BTA), making the self-service platform available to partnerships; tax-exe...
07/09/2026

The IRS has expanded its Business Tax Account (BTA), making the self-service platform available to partnerships; tax-exempt organizations; federal, state and local governments; and Indian tribal governments. The BTA is a centralized platform that allows eligible users to manage their federal tax responsibilities online. Among other things, BTA users can view tax balances, make payments and see payment history, access eligible payroll and income transcripts, if eligible, and download select digital notices. The newly eligible entities join sole proprietors, S corporations and C corporations that are already able to access the platform. Call us at (478) 788-7334 to discuss your business’s tax obligations.

Tax planning requires more than preparing returns at filing time. We work with individuals and businesses throughout the...
07/08/2026

Tax planning requires more than preparing returns at filing time. We work with individuals and businesses throughout the year to identify tax-saving opportunities, address compliance requirements and respond to changing tax laws. Call us at (478) 788-7334 to schedule an appointment to discuss your tax needs.

Does your child have a paid internship? Don’t let him or her forget about taxes. Many interns are surprised to learn tha...
07/07/2026

Does your child have a paid internship? Don’t let him or her forget about taxes. Many interns are surprised to learn that internship stipends or other related payments are generally taxable, even if the program offers training or educational opportunities. Depending on the arrangement, payments may be reported on Form W‑2 or Form 1099. Even if no tax form is issued to your child, the income may still be taxable. If taxes aren’t withheld from internship pay, estimated tax payments might be necessary to avoid surprises when it’s time to file a tax return. If you have questions, we can help. Contact us at (478) 788-7334.

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about fut...
07/06/2026

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about future estate tax liability. A spousal lifetime access trust (SLAT) may help. A SLAT can allow you to remove wealth from your estate tax-free while providing a safety net if your needs change in the future. Essentially, a SLAT is an irrevocable trust you establish for the benefit of your spouse plus your children or other relatives. Your spouse is granted limited access to the trust’s funds during his or her lifetime, giving you indirect access. Call us at (478) 788-7334 to discuss whether a SLAT makes sense for you.

In general, companies can deduct rent as a business expense on their federal tax return. However, several rules limit th...
07/02/2026

In general, companies can deduct rent as a business expense on their federal tax return. However, several rules limit this tax break. For example, payments made under a conditional sales contract aren’t deductible as rent. And you can’t deduct “unreasonable” rent. This means it’s higher than market value, such as inflated rent paid to a “related person.” If you pay in advance, you can only deduct rent that applies to your use of the property during the tax year. (You’ll be able to deduct the rest in the year to which the payment applies.) On the other hand, you can usually deduct expenses you’ve paid to cancel a business lease. For help identifying deductible expenses, contact us at (478) 788-7334.

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, w...
07/01/2026

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, when your loved one inherits an asset, its tax basis is “stepped up” to its fair market value at the time of your death. If the heir later sells the asset, he or she will owe capital gains tax only on any appreciation after your date of death, rather than on the entire gain since you acquired it. Investment accounts, business interests, real estate and personal property are among the assets affected by the stepped-up basis rules. Call us at (478) 788-7334 for details.

Avoid underpayment penalties by staying on top of estimated tax payments and paycheck withholding. If you expect to owe ...
07/01/2026

Avoid underpayment penalties by staying on top of estimated tax payments and paycheck withholding. If you expect to owe at least $1,000 in taxes after subtracting credits and withholding, quarterly estimated payments may be required. Withholding and estimated payments must generally cover 90% of this year’s tax or 100% of last year’s tax (or 110%, depending on your income). Unsure if you’re on track? Let’s review your situation now to help avoid surprises when you file your 2026 return next year. Call us at (478) 788-7334.

If you’ve recently lost your job, you’re likely focused on replacing income and evaluating your next steps. But some tax...
06/30/2026

If you’ve recently lost your job, you’re likely focused on replacing income and evaluating your next steps. But some tax implications related to a job loss may also require attention. For example, unemployment compensation and severance pay are generally taxable, at least at the federal level. And health insurance premiums you’d been paying pre-tax from your paycheck may now have to be paid after-tax — though you might be able to deduct them. There are also tax consequences to consider in relation to your retirement plan with your former employer or withdrawing funds from an IRA to replace some of your lost income. If you’d like guidance, contact us at (478) 788-7334.

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3079 Pio Nono Avenue
Macon, GA
31206

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Monday 10am - 6pm
Tuesday 10am - 6pm
Wednesday 10am - 6pm
Thursday 10am - 6pm
Friday 10am - 6pm

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+14787887334

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