Conner Ash P.C. - Certified Public Accountants and Business Consultants

06/03/2026

Reminder for Americans living and working abroad: Your 2025 federal income tax return is due by June 15. Taxpayers whose tax home and main place of business are outside of the United States and Puerto Rico generally get an automatic two-month extension to file their return. But interest is charged on any tax that wasn’t paid by April 15, 2026. All worldwide income must be reported, including wages, self‑employment income and unearned income. Need more time to file? You can request an additional extension — however, beware of penalties and interest that may accrue on unpaid 2025 taxes. Contact us for guidance.

06/03/2026

An employer-sponsored retirement plan can be a valuable investment for many organizations. But if employees don’t fully understand and appreciate your plan, the return on that investment may fall short. Many workers want help with retirement planning. This includes detailed guidance on how the plan works, as well as broader education on setting objectives, choosing investments and finding ways to save in the current economic environment. You can support them by offering clear, ongoing learning opportunities in multiple formats, such as emails, printed materials, seminars and lunch-and-learns. Contact us for help assessing the financial, tax and strategic implications of your retirement plan.

06/02/2026

Taxpayers can now access their Section 530A accounts (also known as “Trump Accounts”) and submit and view the status of Form 4547, “Trump Account Election(s),” through their IRS individual online accounts. A Sec. 530A account can be set up for any U.S. citizen who’ll be under age 18 at the end of the tax year and who has a Social Security number. Generally, annual contributions of up to $5,000 can be made until the year the beneficiary turns age 18. U.S.-citizen children born from Jan. 1, 2025, through Dec. 31, 2028, can potentially qualify for an initial $1,000 government-funded deposit. Contributions aren’t deductible, but earnings grow tax-deferred as long as they’re in the account. Contact us for details.

06/02/2026

Don’t underestimate how overhead costs can affect your business’s profitability. Indirect expenses — such as rent, utilities, insurance and administrative costs — often grow quietly over time. Allocating overhead costs across products, services, projects or clients can provide greater insight into profitability. A disciplined allocation approach can help you identify underperforming products or services, evaluate expansion opportunities, and make better-informed pricing decisions. Reviewing your allocation methods periodically is especially important as labor, technology and operating costs change. Contact us to discuss practical strategies for managing overhead and improving your bottom line.

06/01/2026

Using social media platforms is a quick and easy way to glean tax-related information and advice. However, it can be difficult to gauge the accuracy of the information available online. Our firm is one source of trusted information. Another is the IRS. Consider following its official social media accounts (https://bit.ly/4dVN1KP ) and subscribing to its e-News subscription service. Among other things, subscribers can opt to receive IRS Tax Tips that are written in plain language on a range of general interest tax topics. If you’re a small business owner or a self-employed individual, the IRS offers e-News for small businesses. For more information: https://bit.ly/3Q8ARWY

06/01/2026

06/01/2026

Scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensitive information or sending money.

Remember, the IRS will never contact you by email or text about a tax bill or refund. It also won’t demand immediate payment over the phone. Most IRS communications are sent through regular mail — though fraudsters may send fake IRS notices by mail, often including QR codes.

Don’t click on links, open attachments or scan QR codes from unknown senders that might direct you to fraudulent websites designed to steal personal or financial information. Contact us if you have questions.

05/15/2026

One of the many scams currently targeting taxpayers is fake online tax deduction calculators. These digital tools are intended to steal personal information and money from unsuspecting users. They’re often accompanied by false promises about new or expanded tax credits and deductions available under the One Big Beautiful Bill Act. The IRS says you should use calculators only on sites that end in .gov (such as irs.gov) or of well-known tax software companies. Also, be wary of any calculator that guarantees its result. Legitimate calculators can only produce estimates. And, as always, be suspicious of claims that seem “too good to be true,” such as unusually large tax savings.

05/14/2026

Confusion about IRS CP53E notices is growing — and scammers are taking advantage. CP53E is an official IRS notice related to tax refunds and bank account information. As the IRS shifts from paper checks to direct deposit, it’s mailing these notices to taxpayers who may need to add or update their banking details. The IRS warns that fraudsters are sending fake versions of the notice in an attempt to steal taxpayers’ sensitive information. If you receive one, verify its authenticity before acting. Do not click links or scan QR codes. The IRS communicates by mail, not digitally. Visit irs.gov to verify and respond. Have questions? We can help.