Shree Tax & Accounting Services

Shree Tax & Accounting Services Shree Tax & Accounting-
Foram Modi CPA provides

� Business and personal tax services
� Bookke Accounting, Tax Preparation Services

01/12/2026

The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season.

01/08/2026

Reminder - 4th quarter 2025 estimated tax payment due - Jan 15th

IRS sets 2026 business standard mileage rate at 72.5 cents per mile
01/02/2026

IRS sets 2026 business standard mileage rate at 72.5 cents per mile

12/23/2025

Effective January 1, 2026, the Ohio withholding rate on bonus income and supplemental compensation income will decrease from 3.5% to 2.75%

12/18/2025

December 31 Reminders -

-Last day for IRA RMDs
-Last day for 2025 gifts under exemption
-Deadline to process HRA reimbursements
-Last day to make Roth conversions for 2025
-Deadline to pay family members working in the business
-Last day to make any tax-deductible charitable contributions
-Deadline to purchase a vehicle, equipment, or pre-pay supplies expense for a 2025 write-off

11/13/2025

401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500

07/16/2025

Those who take the standard deduction can also deduct up to $1,000 for single filers and $2,000 for
married filing jointly filers.

07/08/2025

For taxable years 2025 through 2028, a deduction is allowed for qualified passenger vehicle loan interest.
• Individuals are allowed an above-the-line deduction for interest on loans used to purchase American-made cars.
• The deduction is capped at $10,000, with income phase-outs tarting at $100,000 (single filers) and $200,000 (married filing
joint filers).
• Campers, trailers and ATVs are not eligible.

07/08/2025

Maximum nonrefundable child tax credit increased from $2,000 to $2,200 per qualifying child for taxable year 2025

07/08/2025

There is a One Big Beautiful Bill has been passed. Many changes to the tax laws Enacted on July - 4th, 2025.

07/01/2025

Congress considering tax measures for small businesses.
-Enhanced Pass-Through Deduction (Section 199A) - from 20% to 23%
- 100% Bonus Depreciation
- Interest Expense Deductions
- Deductions for Tips and Overtime

03/14/2025

Effective April 9th, 2025- New Vendor's License fees will increase from $25 to $50.

Address

Medina, OH
44256

Website

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