Stephens Bros Tax Service

Stephens Bros Tax Service Accounting and Tax Advisory Services, include income tax return preparation. Stephens Bros Tax Service was founded by two brothers, Joseph and Matthew in 2013.

We are a family business because we believe in the power of family and community relationships. When you join our clientele, you will become a part of our family! Welcome! We launched this business in response to the numerous outcry of individuals and companies who were struggling to navigate the federal and state tax maze! From the beginning we were bombarded by clients running into our office with "professionally prepared" tax forms and letters from the IRS stating they owed enormous sums of money. Others were wrongfully denied Earned Income Tax Credits (EITC) or Education Credits and other rightful tax benefits. Most of all, our customers complained about the poor services and lack of education they received which led to these types of crises. As such, the Stephens Bros Tax Services will make three commitments to you when you sign on with our firm:

1. We will ask the right questions to arrive at practical solutions to ensure financial success in your personal life and/or business

2. We will educate and advise you! And then, with your permission put it all into action, so you can return to doing the things you love

3. We will work as a team (like peanut butter and jelly) and build ecosystems that will educate and defend you against unforeseen obstacles

Our mission is to identify problems, create practical solutions and implement them in a deliberate systematic manner to ensure success! WELCOME TO STEPHENS BROS TAX SERVICE

07/25/2025

🚨New 1099 Rule:

If your biz pays >$2,000/yr for services/rent (up from $600), you MUST file a 1099.

✅ Miss it? $300 penalty EACH
⚠️ Worse: If you didn’t get a W-9 & THEY don’t pay taxes, YOU’RE liable too.

Don’t risk your biz. File smart.
#1099

07/24/2025

🚨1202 QSBS Changes (Big Beautiful Bill Act):

• Sell C-Corp stock tax-free after 5 yrs
• Limit raised to $15M (was $10M)
• Gift to family = stack exemption
• No RE or service biz
• Must be original issue C-Corp shares

07/23/2025

🚨1202 QSBS Changes (Big Beautiful Bill Act):

• Sell C-Corp stock tax-free after 5 yrs
• Limit raised to $15M (was $10M)
• Gift to family = stack exemption
• No RE or service biz
• Must be original issue C-Corp shares

07/22/2025

🇺🇸 “Trump Accounts” coming 2026 (OBBBA):

• Parents open for kids under 18
• Gov’t seeds $1K (if born ‘23–‘28)
• $5K annual limit, no tax deduction
• Tax-free growth
• Employers can add $2.5K
⚠️ Not self-directed. Think gov’t-run Roth-lite.

07/22/2025

🚫 New tax deductions? Watch your AGI.

Every new deduction in OBBBA phases out at:

👉 $150K (single)
👉 $300K (MFJ)

That includes tips, overtime, and more.

High earners? Your strategy just changed.

07/21/2025

🧾 Big losses? You can’t write them all off anymore.

OBBBA makes the Excess Business Loss limit permanent:
$313K (single) / $626K (MFJ).
Excess turns into a Net Operating Loss (NOL).
Real estate pros: take note.

07/19/2025

🚨 SALT cap raised to $40K under the One Big Beautiful Bill Act!

Begins 2025. Phases out at $250K (single) / $500K (MFJ).

Old $10K cap still applies for 2024.

Time to review your entity + Schedule A strategy.

Address

307 Main Street
Sheridan, WY
13790

Opening Hours

Monday 9am - 7pm
Tuesday 9am - 7pm
Wednesday 9am - 7pm
Thursday 9am - 7pm
Friday 9am - 7pm
Saturday 9am - 3pm

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