Nowakowski Accounting and Business Services, LLC

07/21/2026

Family members funding a child's Trump account? New IRS guidance explains when contributions qualify for the annual gift tax exclusion and when a gift tax return may still be be required.

IRS guidance clarifies when Trump account contributions qualify for the gift tax annual exclusion and when a gift tax return may still be required.

07/20/2026

Retired disabled first responder? A new federal law may make certain disability pensions tax-free beginning in 2027. Watch this video to learn what it could mean for you.

07/16/2026

Learn how the IRS 10-year collection statute works, what can extend it, and why waiting out tax debt is often riskier than it sounds

Learn how the IRS 10-year collection statute works, what can extend it, and why waiting out tax debt is often riskier than it sounds.

07/16/2026

Choosing between an S corporation and C corporation involves more than tax rates. Learn the key factors that can impact growth and profits.

07/14/2026

The IRS has announced that it will begin automatically forgiving certain penalties for taxpayers who have not had a similar penalty in the past three years, rather than requiring them or their tax preparer to request relief for them.

The IRS will automatically waive certain penalties for eligible taxpayers with a strong compliance history. Learn who qualifies.

07/13/2026

Learn how the 180-day rule may allow certain 2026 capital gains to be deferred through a Qualified Opportunity Fund investment.

07/10/2026

A mid-year tax review helps business owners improve cash flow, reduce surprises, and make smarter decisions before year-end.

07/09/2026

Employers of all sizes can assemble a portfolio of fringe benefits that materially increase employees’ total compensation while delivering tax advantages to both the business and employees.

Learn how fringe benefits can boost employee compensation while providing valuable tax advantages for both employers and employees.

06/29/2026

Learn how short-term and seasonal home rentals can affect your taxes, including income reporting rules and available tax benefits.

06/26/2026

Here are the July 2026 Business Due Dates

Stay on top of July 2026 business tax deadlines, including payroll tax deposits, Form 941, Form 5500 filings, and FUTA tax requirements.