Reid Tax Service

02/11/2026

📢 Overtime Workers — Here’s Something You Should Know (2025–2028 Proposal)

You may have seen information online about the “One Big Beautiful Bill” (OBBB) and a potential temporary federal tax deduction for qualified overtime pay. Here’s what it means in plain language:

What Is Being Proposed?

Eligible employees could deduct up to $12,500 of qualified overtime pay
($25,000 for joint filers) from federal income taxes for tax years 2025–2028.

Key Points

• Applies to the premium portion of overtime (the “half” in time-and-a-half)
• Only for employees covered by the Fair Labor Standards Act (FLSA)
• Available even if you do NOT itemize deductions (“above-the-line” deduction)
• Income limits: Phases out over $150,000 single / $300,000 joint
• Does NOT reduce Social Security or Medicare taxes
• Does NOT apply to state taxes

How Would It Work?

• Claimed on your annual federal tax return (Form 1040)
• Employer documentation would be required
• Updated W-2 reporting is expected in future tax years
• Most people would likely see the benefit at filing time as a refund increase or lower tax bill — not in each paycheck.

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⚠️ Important:
Information circulating online refers to proposed legislation and draft guidance. Tax laws can change, and details may be updated before they become official. Always rely on verified IRS guidance and a qualified tax professional before making financial decisions.

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💡 Why This Matters
Understanding new deductions and credits can make a real difference in what you owe — or what you receive back. Having a preparer who stays informed and works for you is key.

📞 Reid Tax Service — 704.402.2829
Accurate. Ethical. Up-to-date tax preparation.
Your Money. Your Business. Done Right.

01/25/2026

Headline: 🚨 PARENTS: The New "Trump Accounts" Are Here. Are You Ready to Claim Your $1,000?

You’ve likely seen the headlines about the new "Trump Accounts" (officially Section 530A Accounts). There is a lot of noise out there, so we are breaking down exactly what this means for your family and your tax return this year.

👇 THE CHEAT SHEET:

1. What is it? Think of a Trump Account as a special retirement savings account for kids. The goal is to let compound interest grow tax-deferred from childhood so they have a nest egg as adults.

2. The $1,000 "Free Money" (The Pilot Program)

Who gets it? Any U.S. citizen child born between Jan 1, 2025 – Dec 31, 2028.

The Benefit: The federal government deposits a one-time $1,000 seed into the account.

Older kids? You can open an account for any child under 18 to save for them, but only the newborns (2025-2028) get the automatic $1,000 government deposit.

3. Adding Money (The Rules)

Parents/Grandparents: You can contribute up to $5,000 per year (post-tax dollars).

Employers: Bosses can contribute up to $2,500 per year to an employee’s child’s account (tax-free!).

Timeline: You file the paperwork now, but the accounts officially open for funding starting July 4, 2026.

4. The "Lock" (Can I withdraw it?) This is the big catch!

⛔ BEFORE Age 18: The money is locked. You generally cannot touch it for emergencies, private school, or braces.

✅ AFTER Age 18: It turns into a Traditional IRA. The child (now adult) manages it. They pay income tax on the gains when they withdraw it, and if they take it out before retirement age, they may face penalties (unless used for things like a first home or college).

5. How do I get it? You must file IRS Form 4547. We can handle this for you when we prepare your 2025 taxes to ensure you don't miss the enrollment window.

💡 THE BOTTOM LINE: If you had a baby in 2025, you are leaving $1,000 on the table if you don't file the right form. Don't guess with your family's financial future.

Reid Tax Service is ready to help you set this up correctly and maximize your refund.

📅 Book Now📍 Location: Statesville, NC 📞 Call Us: 704.402.2829

Reid Tax Service Your Taxes. Your Business. Done Right.

01/22/2026

The 2026 Tax Filing Season Opens Next Week!

The IRS has announced the first day of the 2026 filing season and now is a good time to start preparing your 2025 tax returns. January 26, 2026, is the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions. Learn more at IRS.gov.

https://www.irs.gov/newsroom/irs-announces-first-day-of-2026-filing-season-online-tools-and-resources-help-with-tax-filing

Book Now via site or give us a 📞 @ 704.402.2829!

IR-2026-02, Jan. 8, 2026 — The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

01/20/2026

Appointments available - Book Now or Call Us @ 704-402.2829! Cash Advance available upon bank approval.

01/14/2026

Tax Season Education Post (PLEASE READ & SAVE)

💡 Why your refund — and EIC — may be smaller than expected

Many people expect a refund because they worked all year or have dependents. Here’s what really affects your refund:

✔️ Refunds are based on how much federal tax was withheld, not just income or dependents
✔️ Earned Income Credit (EIC) has income limits
✔️ As your total income increases, the EIC phases out
✔️ Being near or over the phase-out limit means a smaller EIC amount — or none at all

Even with Head of Household and dependents:
➡️ If withholding is low
➡️ And income is near the EIC phase-out range

…the refund may be small, and cash advances may not be available.

📌 This doesn’t mean anything was done wrong — it means the tax rules worked exactly as designed.

The goal is planning, not surprises. Reviewing your W-4 during the year can make a big difference at tax time.

Prepared accurately, ethically, and transparently always.

Char Reid-McGee | Reid Tax Services

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📌Want help adjusting your withholding or understanding credits before tax season? Message me.

01/01/2026

TAX TIME, is here!
Don’t want to wait weeks for your refund? ** Ask us about a Fast Cash Advance. It’s a great way to get money when you need it — up to $7,000* - NOW. Choose from three convenient ways to get your refund money: check, direct deposit or Green Dot Prepaid Visa card.
Contact us at 704-402-2829 or click Book Now schedule an appointment.
Benefits
• Get up to a $7,000 advance
• Available January 2 through March 14
• Most loans approved within hours
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01/01/2026

Happy New Year, 2026!

11/30/2025

Why Choose Reid Tax Service?!

09/16/2025

🖊️ What is a Notary Public & Why You Need One

A Notary Public is a state-appointed official who helps prevent fraud by witnessing the signing of important documents.
✅ We verify identity
✅ Ensure all parties are willing
✅ Help make documents legally binding

As a Loan Signing Agent, we also handle key real estate documents such as:
• Deeds of Trust & Mortgages
• Loan Applications
• Closing Disclosures & Settlement Statements
• Occupancy Affidavits & Compliance Agreements

Whether you’re buying a home, refinancing, signing a will, or handling business agreements—having a notary adds a layer of trust and security to your paperwork.

📍 Need a mobile notary in Statesville, Charlotte, Wilkesboro, Greensboro & surrounding NC areas? Reid Tax Service comes to YOU.
📲 Message, call, or text us at 704-402-2829
🔗 Facebook: https://facebook.com/reidtaxservice

Reid Tax Service is located in Statesville, NC. Individual and small businesses federal and state tax preparation and Notary Signing Agent services.

01/23/2025

Appointments available today! “Get up to a $7,000 refund advance” TODAY! Don’t want to wait weeks for your refund? Choose from three convenient ways to get your refund money: check, direct deposit or Green Dot Prepaid Visa card.
Contact us at 704-402-2829, to schedule an appointment.
Benefits:
• Get up to a $7,000 advance
• Available January 2 through March 14
• Most loans approved within hours
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