Schroeder & Co., CPA's, LLC

Schroeder & Co., CPA's, LLC Providing Peace of Mind for Your Future A small local firm that is expanding and progressively growing everyday.

We are a general practice firm providing the quality accounting services you desire. We provide sound financial planning, which is only achieved through a financial planner that has the abilities to meet your expectations, who provides his/her services with honesty and with the highest ethical standards ~ both personal and professional. Our firm works with local Putnam County businesses and indivi

duals as well as clients in Canada and other parts of the United States. As mentioned earlier, we strive to offer our help to one and all, with honesty and integrity. Let's get together and talk about your accounting and tax needs!

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 20...
09/03/2026

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 2026, eligible educators may have two ways to deduct qualifying unreimbursed expenses: A deduction of up to $350 is available whether or not they itemize, and a new deduction with no dollar cap is available to itemizers. Educators eligible for both deductions can first claim the above-the-line deduction and reap the benefits of reducing their adjusted gross income and, if they have eligible expenses in excess of $350, claim the itemized deduction for those excess expenses. (Educators can’t claim both deductions for the same expenses.) Contact us to see if you may be eligible. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30779

Many parents don’t know that the “kiddie tax” exists. Others assume it affects only minor children. But it also can appl...
09/03/2026

Many parents don’t know that the “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, the child’s unearned income in excess of $2,700 (for 2026) is taxed at the parent’s tax rate, if higher.

If your child has investment income from custodial accounts, consider reviewing the types of investments in those accounts. Growth-oriented investments that generate little current income may help reduce exposure to the kiddie tax until your child is old enough that the tax no longer applies.

If you’d like help evaluating your family’s situation, contact us. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30780

What’s the right entity type for your new business? Two popular options for closely held businesses with multiple owners...
08/20/2026

What’s the right entity type for your new business? Two popular options for closely held businesses with multiple owners are LLCs taxed as partnerships and S corporations.

Both offer pass-through taxation, meaning tax items pass through to the individual owners and are reported on their personal returns. But they differ in important ways, such as self-employment tax, loss deductions, ownership flexibility and eligibility requirements.

Before making your decision, contact us. Taxes play a pivotal role in this decision. We can work with you and your legal advisors to determine the optimal setup for your situation. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30778

Have you made contributions to charity this year? Are you considering making more? If so, it’s important to be familiar ...
08/17/2026

Have you made contributions to charity this year? Are you considering making more? If so, it’s important to be familiar with the tax rules so you can maximize your tax benefit — or at least avoid finding out at tax filing time that your charitable deductions are smaller than you expected.

What you donate affects how much you can deduct and the limits that apply. For example, cash donations are generally deductible up to 60% of adjusted gross income (AGI) while property donation deductions are typically limited to 30% or 50% of AGI. And nonitemizers can deduct only cash gifts, subject to a $1,000 limit ($2,000 if married filing jointly).

Many additional rules apply. Contact us with questions. For full article click here: https://bit.ly/2UYIA8b

Mutual funds offer an easy way to invest in a diversified portfolio. But the tax treatment isn’t so simple.One challenge...
08/14/2026

Mutual funds offer an easy way to invest in a diversified portfolio. But the tax treatment isn’t so simple.

One challenge is that certain mutual fund transactions are treated as sales even though they might not seem like it. Another is that determining your tax basis for shares sold can be complicated, especially if you dispose of only part of your interest in the fund and the shares were acquired at different times for different prices. Also, mutual fund capital gains distributions are generally taxable, even when reinvested in the fund.

If you have questions about the tax treatment of mutual funds, contact us. We can help you be a tax-smart mutual fund investor. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30776

If your child is heading to college this fall, tax breaks may be available. For example, you might be eligible for the A...
08/12/2026

If your child is heading to college this fall, tax breaks may be available. For example, you might be eligible for the American Opportunity Tax Credit (AOTC) of up to $2,500 per student for the first four years of college. But the AOTC is phased out for married joint filers with modified adjusted gross income between $160,000 and $180,000 (between $80,000 and $90,000 for heads of households).

If your child has a tax-advantaged education account, such as a 529 plan, tax-free withdrawals can be taken to pay qualified expenses. But expenses paid with tax-free withdrawals can’t be used to claim the AOTC.

Contact us to discuss these and other tax tips for your situation. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30775

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptl...
07/30/2026

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptly and strategically.

If you or your business receives a tax notice from the IRS or a state agency, don’t ignore it. Be mindful of the notice’s deadline and work with your tax advisor to prepare supporting documentation and an appropriate response. If you owe back taxes that you can’t pay in full, explore potential relief options, such as a temporary delay in collection due to hardship, an installment agreement or payment plan, or a settlement plan.

We can help you communicate with tax authorities and create a plan to get your business back on track. Contact us to learn more. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30770

Will your Social Security benefits be taxable? A portion might be. How much depends on your provisional income, your ove...
07/27/2026

Will your Social Security benefits be taxable? A portion might be. How much depends on your provisional income, your overall income and IRS thresholds.

Provisional income is your adjusted gross income with some additional calculations. You may have to report up to 85% of your Social Security benefits as taxable income if your provisional income is over $34,000 ($44,000 for joint filers). If you file separately from your spouse who lived with you at any time during the year, the threshold is $0.

Smart tax planning can potentially reduce your liability. We can help project your provisional income and review your overall tax situation to identify strategies that make sense for you. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30769

Rising home values are leaving some homeowners with large gains when they sell. But that doesn’t necessarily mean a larg...
07/24/2026

Rising home values are leaving some homeowners with large gains when they sell. But that doesn’t necessarily mean a large tax bill. If you sell your principal residence and meet certain requirements, you can exclude up to $250,000 of gain ($500,000 for joint filers). Gain that exceeds the exclusion or doesn’t qualify for it, however, is subject to long-term capital gains tax (or short-term capital gains tax if you haven’t owned the home for more than a year). It also could be subject to the net investment income tax if your income is over a certain amount. Contact us before putting your home on the market. We can help you estimate the tax impact and discuss possible planning opportunities. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30768

Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Reviewin...
07/22/2026

Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Reviewing your tax picture now gives you more time to take steps to reduce or defer taxes. For example, if you expect this year’s income to be near the threshold for a higher bracket, consider strategies for reducing your taxable income to stay out of that bracket. If you’ve realized, or expect to realize, significant capital gains this year, consider selling some depreciated investments to generate losses you can use to offset those gains. And if you’d like help evaluating these and other midyear tax strategies, contact us. For full article click here: https://www.schroedercocpas.com/index.jsp?page=blog&postId=30767

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315 E Main Street Ste A
Ottawa, OH
45875

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