Killingsworth Spencer LLC

10/15/2026

Hurricane Isaias: Tax Relief for Florida Property Owners

As Florida begins recovering from Hurricane Isaias, the IRS has announced tax relief for affected individuals and businesses, including extended filing deadlines. There is another consideration that may be especially relevant to North Atlanta residents who own property in Florida.

Certain hurricane-related property losses may qualify for a federal income tax deduction, and eligible taxpayers may have the option of claiming those losses on their 2025 returns rather than waiting until 2026.

The rules depend on individual circumstances, including the type of property, insurance reimbursements, and disaster eligibility.

We've outlined some important considerations in our latest Killingsworth Spencer blog.

Read more: https://www.killingsworthspencerllc.com/uncategorized/hurricane-isaias-tax-relief-for-florida-residents-and-property-owners/

09/09/2026

New Post: Your Exit Plan Is Already Taking Shape Whether You Know it or Not

Hello again, Gus Martinez, CPA and Tax Manager here at Killingsworth Spencer in Roswell, GA. My previous blog post discussed what business owners should consider before exiting their business. This time I want to focus on an important reality: Much of the financial outcome of an eventual exit is det...

08/27/2026

New Post: What To Know Before You Exit Your Business

Nearly every business owner eventually receives an unsolicited call from someone claiming to have the perfect buyer for their company. Many of these calls are phishing expeditions designed to gauge interest in selling. Some solicitations are legitimate. Regardless, most business owners are caught of...

06/30/2026

New Post: “Why Did I Not Get the Full $40,000 SALT Deduction?”

When the One Big Beautiful Bill Act was signed into law on July 4th, 2025, one of its most talked about tax provisions was the increase in the State and Local Tax (SALT) deduction cap from $10,000 to $40,000. Greetings from Killingsworth Spencer, Lynn Spencer here. As 2025 progressed, some taxpayers...

06/04/2026

New Post: The Augusta Rule: How Homeowners Can Earn Tax-Free Rental Income for the 2026 FIFA® Games

Major events can create unique opportunities for homeowners. Here’s a valuable tax strategy, commonly known as the Augusta rule, that can help generate tax-free income. A homeowner may rent their primary residence for up to 14 days each year without paying federal income taxes on the earnings. Ren...

05/29/2026

New Post: The Hidden 2026 Tax Change Affecting Workplace Coffee & Snacks

There is a quiet tax law change taking effect in 2026 that could increase costs for many businesses providing coffee, snacks, and other small refreshments to employees. For years, these items have been treated as de minimis fringe benefits, meaning employees are not taxed on them, and employers were...

05/28/2026

Updated Post: IRS Announces a One-Time Settlement Offer for Conservation Easements

The IRS recently announced a time-limited settlement initiative offering eligible taxpayers involved in syndicated conservation easement disputes an opportunity to resolve pending matters on streamlined terms and avoid continued litigation. With more than 1,000 conservation easement cases reportedly...

05/28/2026

New Post: IRS Announces a One-Time Settlement Offer for Conservation Easements

The IRS recently announced a time-limited settlement initiative offering eligible taxpayers involved in syndicated conservation easement disputes an opportunity to resolve pending matters on streamlined terms and avoid continued litigation. With more than 1,000 conservation easement cases reportedly...

05/27/2026

New Post: Important IRS Penalty Abatement for Taxpayers affected by COVID expires July 10th, 2026

Important IRS Penalty/Interest Refund Opportunity – Action Required Before July 10, 2026 A federal tax case, Kwong v. United States, is drawing national attention because it could allow tens of millions of taxpayers to recover IRS penalties and interest assessed during the COVID-19 pandemic. The c...

05/22/2026

New Post: Medicare Surtax & NIIT Rules for North Atlanta Taxpayers

The .9% Medicare Surtax - has applied since 2013 under the Affordable Care Act (ACA) - The income thresholds below are the same in 2026 as they were in 2013. While income thresholds have not changed, more households are now affected. Employees pay the standard 1.45% Medicare tax on wages, matched by...