Cindy's Quality Tax

08/28/2026

Another update to Form 1099 thresholds:

Beginning with payments made in 2026, the federal information reporting threshold increased from $600 to $2,000 for certain payments.

📌For Form 1099-NEC, this generally means a business must file the form when it pays $2,000 or more during the year for services performed by SOMEONE who is NOT its employee, assuming the payment is reportable.

📌The higher threshold also applies to several common Form 1099-MISC categories. These include rents, prizes and awards, other income payments, medical and health care payments, and certain other reportable payments.

📌Royalties remain reportable at $10 or more. Certain fishing-related payments also have separate reporting requirements.

📌Attorney payments deserve particular attention because the applicable threshold depends on what is being paid. Attorneys’ fees of $2,000 or more paid in the course of a trade or business are typically reported as nonemployee

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08/18/2026

‼️ FILING DEADLINE ‼️

Deadline for S-Corp and Partnerships is only a month away. September 15th will be here before we know it. Review for finalization appointments should be scheduled as soon as possible to avoid any delays 🙂

08/11/2026

IRS tax guidance resources will now be very limited availability in Spanish for Taxpayers.This will greatly impact the understanding of correspondence from IRS. Any clients needing assistance please feel free to reach out at any time. Myself and my team are here to help as always

08/09/2026

Important Updates for Truckers 🚛🚛

🎯 2290 tax deadline due by 8/31
🎯 Intrastate Carriers TxDmv has changed to the MCCS portal make sure to link your account on 👉

07/18/2026

🚨 REMINDER 🚨
Due Dates this month
Texas Sales Tax Monthly and Quarterly 7/20
Payroll Quarterly Reports 7/31

07/15/2026

Our 2nd Annual back to school bash for our kiddos who may need some backpacks and school supplies. Vendors available if your looking to come join us and all our brooks city businesses that help make this possible.

07/14/2026

IRS mileage rate changes starting the 2nd half of the year 🙂🥳

⭐️Business: 76 cents per mile (up from 72.5 cents)
⭐️Medical and Moving: 23.5 cents per mile (up from 20.5 cents)
⭐️Charitable: 14 cents per mile (unchanged)

07/06/2026

06/30/2026

🚨Trump Acct gift tax requirement relief🚨
IRS has issued a revision Revenue Procedure-2026-25 which will allow taxpayers to make contributions to Trump Accounts without having to file a gift tax return as long as the contributions are below the annual exclusion amount per year. For tax year 2026 that threshold is $19,000 per person.

05/18/2026

NEW IRA FEDERAL MATCH
As many of my clients know, I love to share tax savings plans for my small business clients as well as employees who do not reap the benefits of retirement incentives through an employer sponsored plan. Beginning 2027 a new IRA initiative will be established for contributions for those individuals that will have up to $1000 match from the federal government toward eligible contributions. The Federal Savers Match rules and requirements have yet to be established and as details come available I will be sharing insight and direction. This will be similar to the Federal Thrift Savings Plans offered to Federal employees. Retirement is extremely important and more so now ! Good tax advisory is just as important as financial planning !!