Dr. Sheri Thomas, CPA

06/02/2026

🚀 Starting a new business is exciting... until tax season arrives! 😳

After more than 25 years in the tax industry, I've found that some of the most common questions I receive come from new business owners. They're passionate about their product or service, but many quickly become overwhelmed by 📂 recordkeeping requirements, 💰 estimated taxes, 🏢 business structures, and the endless stream of conflicting advice they find online.

That's exactly why I created the New Business Owner's Financial Survival Guide! 📘

Inside, you'll learn:

✅ What records to keep from day one
✅ Best practices for recordkeeping
✅ Estimated tax fundamentals
✅ Common mistakes that can cost thousands of dollars 💸
✅ Simple systems to stay organized and audit-ready 📋

Written in plain English for real business owners—not accountants—this guide gives you the foundation you need to build your business with confidence. 💪

Whether you're launching your first business or know someone who is, this guide could save thousands of dollars and countless headaches. 🙌

👉 Get your copy today and start your business on the right foot!

Stop Guessing. Start Building.Most new business owners don't fail because they worked too hard — they fail because nobody told them the financial rules before they broke them.The New Business Owner's Financial Survival Guide is a step-by-step roadmap written by a CPA with 25+ years of experience h...

06/01/2026

Summer Activities and Taxes – Did You Know?

Summer is a time to relax and have fun, but some seasonal activities may have tax consequences. Being aware of them now may save you time and hassle later.

If your child attends a day camp so you can work or look for work, some of the cost may qualify for the Child and Dependent Care Credit. Be sure to keep records and obtain the camp's tax identification information.

Students with summer jobs may be entitled to tax refunds if income tax is withheld from their pay. Adults earning income from seasonal, part-time, or gig work may need additional withholding or quarterly estimated tax payments.

Summer is also a popular wedding season. If you change your name after marriage, update your records with the Social Security Administration. If you move, update your address with the IRS and submit a new Form W-4 to your employer so your withholding reflects your current tax situation.

05/29/2026

National 529 Day – Did You Know?

If you put money into a 529 education savings plan, earnings may be withdrawn federal income tax-free when used for qualified education expenses. Qualified expenses can include tuition, fees, books, supplies, computers, and for students enrolled at least half-time, certain room and board costs.

While 529 contributions are not deductible for federal income tax purposes, many states offer a full or partial state income tax deduction or credit for contributions. Some states and plan sponsors may also offer special incentives around National 529 Day.

Recent law changes expanded the use of 529 plans. In 2026, up to $20,000 per year, per student, may be used for qualified K–12 education expenses at public, private, or religious schools. Prior years were generally limited to $10,000 annually.

05/29/2026

📣 Parents of children under age 18: Check your email! 📧

🇺🇸 The U.S. Treasury has begun rolling out activation emails for the new Trump Accounts program ahead of its official July 4, 2026 launch.

If you previously submitted Form 4547 to open a Trump Account for your child, watch for an email from:

📧 [email protected]

The email will provide instructions for activating your child's account through the official Trump Accounts app or at TrumpAccounts.gov.

A few important reminders:

✅ There is no cost to open a Trump Account.

💰 Beginning July 4, 2026, parents, grandparents, employers, charities, and others may make contributions (subject to annual limits).

🎁 Eligible children will begin receiving the $1,000 Treasury pilot program contribution directly into their accounts starting July 4, 2026.

🚫 Treasury will NOT contact you by text message or phone call regarding account activation.

⚠️ Be cautious of scams. If you receive a phone call or text message about a Trump Account, do not respond. Treasury has stated that legitimate activation communications will only come by email during this rollout phase.

👶 If you haven't enrolled yet, eligible children can still be signed up at trumpaccounts.gov before they turn 18.

📈 This program could provide a meaningful opportunity to help children begin building long-term savings and investment assets at an early age.

🔗 For the latest information, visit TrumpAccounts.gov.

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

05/18/2026

Qualifying Dependents – Did You Know?

In addition to your children and parents, a number of other individuals may qualify as your dependents for tax purposes. Important factors can include the person's income, how much support you provide, and how much of the year the person lives with you. In some limited cases, even a non-relative who lives with you year round as a member of your household may qualify as a dependent.

05/16/2026

The IRS is sending out a large number of CP53E notices this year related to direct deposit refunds, and some taxpayers are receiving them in error. 📬⚠️

If you get one, don’t panic. First, verify the notice by logging directly into your IRS online account at IRS.gov — do NOT click links or scan QR codes from the letter. 🔒💻

If the notice was sent in error and you are not due a refund, the Taxpayer Advocate Service says you can simply ignore it. ✅

As always, when in doubt, contact your tax professional before responding to IRS notices. 💼📑

05/15/2026

Today was a really good day for one of my clients. ❤️

Sometimes life gets overwhelming. People go through illness, loss, business struggles, family issues, or simply seasons where everything feels like too much.

When that happens, deadlines get missed and responsibilities pile up. Tax problems are often not the root problem — they’re just the symptom of a life that got messy for a while.

That’s what happened to this client. We worked together to get several years of tax filings caught up, but unfortunately the missed deadlines came with significant IRS penalties. ‼️

Today, I was able to get penalties totaling $44,565 removed from the client’s account. 🙌 This gave them the breathing room they need.

Moments like this are why I love what I do. Yes, tax preparation is about numbers and forms, but it’s also about helping people find solutions, relief, and sometimes a little grace when they need it most. ✨

No judgment. Just helping people move forward. 💙

05/11/2026

Health Savings Accounts - Did You Know?

Changing jobs? If you have a health savings account (HSA), you can take it with you. Unlike flexible spending accounts (FSAs), which are usually tied to your employer, your HSA belongs to you. You can continue using your HSA funds after leaving the job where you opened the account. However, you may make new HSA contributions only if you remain eligible to contribute. To remain eligible, you generally must be covered by an HSA-eligible high-deductible health plan (HDHP) and have no disqualifying coverage.

05/04/2026

Receiving Online Payments - Did You Know?

If you are self-employed and receive payments through online payment processing platforms, take care to separate business and personal transactions. You can do this by setting up separate business accounts on the platforms, or by using features that allow you to specify the purpose of payments. Otherwise, the platforms may overreport your income.

04/27/2026

Updated Withholding Estimator Available for 2026

Having the right amount of tax withheld from your pay protects you against unpleasant spring surprises, while ensuring that you do not unnecessarily sacrifice take-home pay. The IRS recently made important updates to its Withholding Estimator tool (link below), to account for tax law changes enacted in 2025. Those changes include the "No Tax on Tips" and "No Tax on Overtime" deductions, the car loan interest deduction and special deduction for seniors, and the new deduction rules for charitable donations.

Verifying the accuracy of your withholding a couple of times a year is especially important if you and your spouse both work, or if you owed tax this spring, work multiple jobs, or have self-employment or investment income. It is also a good idea to complete a withholding checkup anytime you experience a major life change like marriage, or the birth or adoption of a child. Using the Withholding Estimator typically takes 25 minutes or less, and you do not have to log in or provide any personally identifying information. If an adjustment to your withholding is needed, the tool can help you complete a new W-4 form to submit to your employer.

IRS Withholding Estimator Tool: https://www.irs.gov/individuals/tax-withholding-estimator