Lahrmer & Company LLC

09/03/2026

Cash flow problems are frustrating enough without adding a tax surprise to the mix. The less obvious reality is that not every unpaid invoice qualifies for a bad debt deduction, and documentation matters just as much as the loss itself. Good records often become most valuable when the money never arrives.

08/20/2026

Helping a family member financially can feel like an easy decision. The part many people overlook is that the IRS may view a low-interest loan differently than expected. Good intentions still benefit from good paperwork.

08/18/2026

Fuel costs add up quickly when you spend time on the road for work. The IRS's higher mileage rate means every eligible mile may be worth a little more in 2026. Good recordkeeping still does most of the heavy lifting.

08/13/2026

If you're single, your future plans deserve just as much protection as anyone else's. A will, powers of attorney and beneficiary designations can help ensure your wishes are carried out. The important thing is having a plan that reflects your priorities.

Estate planning is not just for married couples and families. If you’re single, a will, powers of attorney and other key documents can help ensure your assets are distributed according to you…

08/11/2026

Getting paid sooner is usually a good thing. The tax treatment of advance payments can make the timing of that income more important than many business owners realize. Sometimes strategy is all about timing.

Advance payments are generally taxable when received, but some accrual-basis businesses may be able to defer recognizing a portion of that income until the following tax year. Understanding the rul…

08/06/2026

Running a business often means balancing opportunities with cash flow. The right financing option depends on more than just getting approved, it should support your goals without creating unnecessary strain down the road. The best funding decision is usually the one that still makes sense a few years later.

08/04/2026

Building for a child's future does not happen all at once. New Section 530A accounts add another option for families thinking long term. Time has a way of doing some of the heavy lifting.

A new tax-advantaged savings option is now available for children. Section 530A accounts, also known as Trump Accounts, offer tax-deferred growth, annual contribution opportunities, and, for some e…

07/21/2026

Planning for a parent’s long-term care often involves more than medical decisions. What many families do not realize is that certain nursing home and elder care expenses may qualify for valuable tax deductions. The financial side of caregiving tends to become clearer once the details start coming into focus.

Moving a parent or other family member into a nursing home can create important tax considerations. Depending on the circumstances, certain long-term care and medical expenses may qualify for a ded…

07/14/2026

An emergency fund is not something most people think about until they need it. The challenge is that changes in income, expenses and goals can quietly make an old savings target outdated. A quick review today can be a lot easier than a scramble later.

An emergency fund is one of the foundations of long-term financial security, but the amount you need can change over time. Regularly reviewing your savings, expenses and cash reserves can help ensu…

07/09/2026

Renting out a vacation home can be a great way to offset costs when you are not using it. What many owners do not realize is that a few extra rental days can change how the property is taxed and which deductions are available. It is one of those situations where keeping track of the details can make a meaningful difference.

Renting out a vacation home can provide additional income, but it may also create unexpected tax consequences. The number of days the property is rented and used personally can affect how rental in…