Surfside Tax & Accounting Services

03/13/2026

Hi everyone! I hope you are doing well! Just wanted to remind you that Sub S corp or Partnership tax returns are due on 3/16. Please call us if this applies to you and inquire about extensions. Thank you.

02/03/2026

Good afternoon, everyone! I hope you stayed safe during :"Snowmageddon" in Myrtle Beach.

I was asked what the max is that you can deduct for car interest.

Here is some important information:

"Under the One Big Beautiful Bill Act (OBBBA), you can deduct a maximum of $10,000 per year in interest paid on qualified auto loans for tax years 2025 through 2028.
This deduction is "above-the-line," meaning you can claim it even if you take the standard deduction rather than itemizing.
Key Requirements to Claim the Maximum Deduction
To qualify for the deduction, the following criteria must be met:
Purchase Date: The vehicle must be purchased new, with a loan originated after December 31, 2024, and before January 1, 2029.
Vehicle Origin: The vehicle's final assembly must have occurred in the United States.

Use: The vehicle must be for personal use (more than 50% of the time).

Vehicle Type: Passenger vehicles, trucks, SUVs, or motorcycles with a gross vehicle weight rating (GVWR) under 14,000 pounds.
Exclusions: Leased vehicles and used vehicles do not qualify.
Income Limitations (Phase-Outs)

The $10,000 maximum deduction is subject to income limits based on your Modified Adjusted Gross Income (MAGI):
Single Filers: Full deduction if MAGI is under $100,000; phases out completely at $150,000.

Married Filing Jointly: Full deduction if MAGI is under $200,000; phases out completely at $250,000.
If your income is above these thresholds, the allowable deduction is reduced by $200 for every $1,000 over the limit.

Important Details

Refinancing: Interest paid on a refinanced loan is generally eligible, provided the original debt qualified.

Documentation: You must keep records of interest paid, typically provided by your lender on a year-end statement.
How to Claim: You will need to report the vehicle identification number (VIN) and the interest paid on your federal tax return. "

Though every situation is unique, and if you're not already using our service, or you need to stay up to date with your tax filings for 2025, please call our office and set up an appointment now. 843-238-5970

Call now to connect with business.

12/24/2025

I wanted to share another 12 days of Christmas (Accountant Edition) :)

On the 1st day of Christmas, my client gave to me...
A receipt with no missing pieces, finally!

On the 2nd day of Christmas, my client gave to me..
Two balanced books,
And a receipt with no missing pieces finally!

On the 3rd day of Christmas, my client gave to me...
Three audit trails
Two balanced books,
And a receipt with no missing pieces, finally!

On the 4th day of Christmas, my client gave to me...
Four clean bank recs..

On the 5th day of Christmas, my client gave to me...
Fiiive GOLDEN tax credits!!

On the 6th day of Christmas, my client gave to me..
Six statements matching...

On the 7th day of Christmas, my client gave to me...
Seven spreadsheets linking...

On the 8th day of Christmas, my client gave to me...
Eight W-2s printing...

On the 9th day of Christmas, my client gave to me...
Nine e-filers filing...

On the 10th day of Christmas, my client gave to me...
Ten checks reconciling.

On the 11th day of Christmas, my client gave to me..
Eleven journals posting...

On the 12th day of Christmas, my client gave to me...
Twelve planners planning...
Eleven journals posting...
Ten checks reconciling...
Nine e-filers filing...
Eight W-2s printing...
Seven spreadsheets linking...
Six statements matching...
Fiiiive Golden tax credits!
Four clean bank recs,
Three audit trails,
Two balanced books,
And a receipt with no missing pieces, FINALLY!

Merry Christmas and Happy Holidays everyone!

12/18/2025

Good afternoon, everyone! Don't forget to contact us to help you with your bookkeeping to get your business' books up to date for the end of the year. Call so that we can set up an appointment with you. We would love to help you with your Books.

I wanted to share with you the Accountants' Twelve Days of Christmas Edition.

“The 12 Debits of Year-End” – Accountant Edition 🎄

On the first day of year-end, my client gave to me…
One client “just dropping off a shoebox of receipts.”

On the second day of year-end, my client gave to me…
Two coffee IV drips.

On the third day of year-end, my client gave to me…
Three spreadsheets crashing.

On the fourth day of year-end, my client gave to me…
Four frantic phone calls.

On the fifth day of year-end, my client gave to me…
Five missing invoices!

On the sixth day of year-end, my client gave to me…
Six tax codes changing.

On the seventh day of year-end, my client gave to me…
Seven budgets bleeding.

On the eighth day of year-end, my client gave to me…
Eight auditors lurking.

On the ninth of year-end, my client gave to me…
Nine payroll panics.

On the tenth day of year-end, my client gave to me…
Ten deadlines looming.

On the eleventh day of year-end, my client gave to me…
Eleven emails marked “URGENT.”

On the twelve day of year-end, my client gave to me…

Twelve accountants questioning their life choices :) ...

If we don't speak with you before the Holidays, have a Merry Christmas. If you have any need for bookkeeping or reconciliation for the year, call 843-238-5970.

11/18/2025

Good morning, everyone. I just wanted to remind you about our bookkeeping service. Many businesses worry about this at the end of the year because they are trying to reconcile their banking statements with their income and expenditures. Sometimes also they have to annually renew their Quickbooks and they just wish they had support for this arduous maintenance of thier books. We can take care of this for you and help you get up to date!

Call us to inquire about bookkeeping services so that your Holidays can be stress free!!

Call now to connect with business.

10/06/2025

https://surfsidetax.net/

Good afternoon! Just to let you know, business filing deadline is October 15th which is approaching quickly. Please call the office to make sure if you need an extension. You can also call our office to schedule an appointment at 843-238-5970.

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08/05/2025

Hi friends, just a friendly reminder for those on extension to set up an appointment with us soon so we can get this completed for you: S corps and LLC returns are due in September. Then personal tax extensions are due October. Please call our office to set up an appt at 843-238-5970.

Also, there are many interesting new reforms in the Big Beautiful Bill. Sign up to our newsletter to stay informed! It's good to know how to save money and take advantage of the new benefits within the new tax reform bill that just passed this year. For example, "The One Big Beautiful Bill Act (OBBBA) allows businesses to immediately deduct the full cost of new and used equipment in the year it is put into service, rather than spreading that deduction over several years. This includes both new and used equipment and applies to purchases and financed/leased equipment."

Sign up for our newsletter here:

07/10/2025

Hi friends, we hope you had an excellent July 4th!

You may have questions about the “Big Beautiful Bill” that just passed in Congress and Senate and was just signed by the President on July 4th.

There is some good news in this bill for many taxpayers, personal filing as well as corporations or LLCs.

To know how this affects you and how you should prepare for next years’ filing, here is some current information you may find useful:

https://www.taxfyle.com/blog/how-the-one-big-beautiful-bill-act-affects-you

Please call or schedule an appointment with our office if you have any questions or currently need to file including those on extension. We are here to help you stay informed, prepare, and save money every year.

Have a great day!

Discover how the One Big Beautiful Bill Act, signed July 4, 2025, permanently extends key tax cuts, introduces new deductions, alters green energy credits, and what that means for American filers.