Purk & Associates, P.C.

09/05/2026

09/04/2026

New tax rules may significantly reduce the cost of providing child care to your employees. Starting in 2026, the employer-provided child care credit generally equals 40% of qualified facility expenses (up from 25%), plus 10% of qualified resource and referral costs, up to $500,000 (up from $150,000). Small businesses may qualify for a 50% rate on qualified facility expenses and a $600,000 limit.

The credit may apply to operating your own facility, contracting with a qualified provider or participating in a jointly operated arrangement. But eligibility, additional limits and recapture rules require careful review.

Contact us for help evaluating your options and projecting the credit’s value.

09/02/2026

To attract and retain skilled workers, your small business needs to offer more than competitive pay. Your benefits package matters, too.

Tax-free fringe benefits may be especially valuable to employees. Examples include many types of insurance (health, disability, long-term care and life), assistance plans (dependent care, adoption and educational) and transportation benefits, subject to certain limits. The One Big Beautiful Bill Act also changed some fringe-benefit tax rules for 2026 and beyond.

Open enrollment is right around the corner for many businesses. As you review your 2027 benefits package, contact us for help evaluating your current offerings and fine-tuning them as needed.

08/31/2026

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 2026, eligible educators may have two ways to deduct qualifying unreimbursed expenses: A deduction of up to $350 is available whether or not they itemize, and a new deduction with no dollar cap is available to itemizers. Educators eligible for both deductions can first claim the above-the-line deduction and reap the benefits of reducing their adjusted gross income and, if they have eligible expenses in excess of $350, claim the itemized deduction for those excess expenses. (Educators can’t claim both deductions for the same expenses.) Contact us to see if you may be eligible.

08/31/2026

08/28/2026

Bartering can be a viable way to conduct business, especially if you’re strapped for cash. But you can’t escape tax obligations.

The fair market value of goods or services you receive generally must be reported as taxable income. Business expenses related to the exchange may also be deductible. Special rules apply if you use a barter exchange, including when trade credits are taxable and whether Form 1099-B reporting applies.

Good records are essential, including documentation of the fair market value, invoices, barter agreements and statements from barter exchanges. Whether you already barter or are considering it, contact us to discuss the tax and reporting implications.

08/28/2026

Happy 54th birthday to our very own Jennah Purk!!. Jennah is a renowned CPA and entrepreneur, she is the president of Purk & Associates. Jennah specializes in individual taxation services, closely held businesses, estate planning , stock option planning and IRS examinations. She has entrepreneur vision and expertises for more then 30 years.

Jennah’s passion for business inspired her to expand her entrepreneurial skills to heath, nutrition, esthetics and cosmology. Jennah owns many Medspa|Dayspa|Salons in St. Louis. Jennah strives to lead with vision as well as being committed and invests heavily in training and education for her employees.

Jennah has been awarded small business monthly “ Fittest CEO” in 2015 , enterprising women magazines “ enterprising women of the year “ in 2015 and many more. She has also served on many local and national board of directors.

08/27/2026

Happy 67th Birthday , as these youngsters would say (6….7…. ) To our employee Bill Steinhart.
Bill is the director of Taxation here at Purk & Associates, with more then 35 years of experience with accounting, tax and business consulting.

Bills role is to focus on addressing businesses and personal objectives in a strategic manner to our clients. He advises individual , family’s and corporations in planning and filling taxes both federal and state income.

Bill is here to represent clients in IRS examinations by planning stages through administrative hearings , tax appeals, litigation support and private letter rulings.