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Monday 8:30am - 5pm Tuesday 8:30am - 5pm Wednesday 8:30am - 5pm Thursday 8:30am - 5pm Friday 8:30am - 5pm

Jordan Hatfield PLLC

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Spokane Valley, WA
Jordan Hatfield PLLC

We are a Tax and Accounting business who believes in the value of relationships and in providing quality services to all of our clients.

08/12/2026

Quick reminder: if you're self-employed or own a small business, Q3 estimated tax payments are typically due September 15. Paying quarterly keeps you from a big surprise bill in April — and avoids underpayment penalties. Not sure if you need to pay estimates? A good rule of thumb: if you expect to owe $1,000 or more at filing, you probably should be paying quarterly. We can help you calculate the right amount. DM us or visit our website to schedule a consult!

08/11/2026

Expense Deduction Rules for Personal Property Used for Business – Did You Know?

Many self-employed people may qualify to reduce their taxable income by deducting business expenses. In general, you must allocate expenses related to mixed-use property based on your "percentage of business use." But how is this percentage calculated?

For many types of equipment, your business use percentage may be based on a reasonable measure such as time or output. For example, if you use your computer for 30 hours a week in your freelance work and 20 hours a week for personal purposes (total of 50 hours), then your business use percentage would generally be 30/50 = 60%. Meanwhile, if you have a printer and print 400 pages for business reasons and 100 pages for personal reasons (500 pages total), then your business use percentage would typically be 400/500 = 80%. Therefore, you could generally allocate 80% of shared costs like ink and paper to business use.

On the other hand, business percentages for vehicles should be based on mileage, not time. So if you drive your car 4,500 miles this year in the course of your self-employment work, and 10,500 miles for all other purposes (total of 15,000 miles), then your business use percentage would be 4,500/15,000 = 30%. Alternatively, if eligible, you may choose to use the standard mileage rate and calculate your vehicle deduction based on your qualifying business miles instead of deducting your share of actual vehicle expenses. Be sure to keep records that support your business use percentage, such as mileage logs, usage records, or other documentation showing how the property was used for business and personal purposes.

08/05/2026

Now you know! "And knowing is half the battle!" (G.I. Joe)

08/03/2026

New IRS Automatic Exemption from Penalty Program

Beginning in summer 2026, the IRS is implementing a new system that will waive certain failure-to-file, failure-to-pay and failure-to-deposit penalties for eligible taxpayers with a strong compliance history. To qualify for the Automatic Exemption from Penalty (AEP) program, a taxpayer generally must have met all filing and payment deadlines for the previous three years, or 12 consecutive quarters for quarterly filers.

Unlike First Time Abate, eligible taxpayers will not need to request AEP relief. The IRS will apply it automatically and send a notice. For eligible returns due on or after January 1, 2027, AEP will replace First Time Abate, although reasonable-cause relief will remain available.

Not all IRS penalties qualify for automatic relief. For example, information-return penalties and accuracy-related penalties generally will not qualify. AEP applies only to eligible penalties, not to the underlying tax or interest due.

07/28/2026

If you or someone you know would be a great addition to our seasonal team, let us know!

07/27/2026

Charitable Cash Donation Deductions

Historically, only people who itemized deductions on their tax returns could deduct contributions to charities. However, beginning this year, taxpayers may now qualify to deduct up to $1,000 in cash donations (up to $2,000 for joint filers), regardless of whether they itemize or use a standard deduction.

Only contributions to qualified, tax-exempt charitable organizations (not individuals) are deductible. You can check the official IRS list of tax-exempt charities (link below) to verify an organization's eligibility to receive tax-deductible donations. For monetary contributions, save bank records, canceled checks and/or receipts showing each organization's name, along with the date and amount of each donation. The IRS requires a written acknowledgement from the charity for each individual contribution of $250 or more, showing both the donation amount and the value of anything you receive in return (such as tee shirts, totes, etc.).

You still need to itemize in order to deduct contributions of property, and must have detailed records showing how you determined reasonable dollar values for the donations. For valuable items like collectibles or artwork, you may need a professional appraisal.

Tax Exempt Organization Search: https://www.irs.gov/charities-non-profits/search-for-tax-exempt-organizations

07/20/2026

Form 1099-K – Did You Know?

If you receive a Form 1099-K, review it for payments that may not be taxable, such as reimbursements from friends or family. If these payments were mistakenly included, ask the payment processor to issue a corrected form. Keep in mind that some transactions involving personal items may still have tax consequences, particularly if you sold an item for more than you paid for it.

07/15/2026

Not all receipts are created equal. Even a shoebox system beats no system. We help our clients build simple habits that make tax season stress-free. What's your current receipt strategy? Tell us below!

07/14/2026

Increased Standard Mileage Rates Starting July 1, 2026

Due to higher fuel prices, the IRS has increased the standard mileage rate for business driving to 76 cents per mile for mileage incurred on or after July 1, 2026. The rates for medical travel and eligible moving expenses have also increased to 23.5 cents per mile.

The charitable mileage rate remains unchanged at 14 cents per mile, while the previously announced 2026 rates continue to apply to mileage incurred before July 1.

07/06/2026

Employer-Provided Childcare Tax Credit – Did You Know?

Businesses that offer childcare benefits to employees may qualify for the Employer-Provided Childcare Tax Credit for some of the expenses involved. Eligible costs may include acquiring, constructing, or improving a childcare facility, operating an on-site childcare program, contracting with a qualified childcare provider, or paying for childcare resource and referral services.

Beginning in 2026, the credit generally equals 40% of qualified childcare expenditures (or 50% for eligible small businesses) plus 10% of qualified childcare resource and referral expenses. The maximum annual credit has also increased to $500,000, or $600,000 for eligible small businesses.

Address

312 N Mullan Road
Spokane Valley, WA
99206

Opening Hours

Monday	8:30am - 5pm
Tuesday	8:30am - 5pm
Wednesday	8:30am - 5pm
Thursday	8:30am - 5pm
Friday	8:30am - 5pm

Telephone

(509) 927-1040

Website

http://jordanhatfield.com/

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