Williams Tax & Bookkeeping Services

09/01/2026

Tax Tip Tuesday:

Are you self-employed or earning income without taxes being withheld?

Don't forget 3rd quarter tax estimates are due on September 15th!

08/25/2026

Tax Tip Tuesday:

Effective July 1, 2026, the IRS Standard Mileage rate increased from $.725/mile to $.76/mile.

08/18/2026

Tax Tip Tuesday:

Attention Teachers!

Deduct up to $300 ($600 if both spouses qualify, max $300 each) of unreimbursed classroom expenses on your tax return! Qualified expenses include: professional development, books, supplies, computers/software, and other classroom materials.

You qualify if you’re a K-12 teacher, instructor, counselor, principal, or aide working at least 900 hours in a school year.

08/11/2026

Tax Tip Tuesday:

Beginning in 2027, retirement systems and plans are authorized to withhold school district income taxes from a retiree’s benefits. This will be nice for seniors who have had to pay in quarterly school district estimates in the past.

08/04/2026

Tax Tip Tuesday:

Ohio taxpayers can deduct contributions they make to a 529 college savings plan on their state income tax return. This deduction is limited to $4,000 per beneficiary per year. The deduction is not limited to the savings plan owner or beneficiary. Instead, any taxpayer who makes a contribution is entitled to the deduction. For example, if a grandparent makes a contribution to their grandkids 529 college savings plan, the grandparent can get a deduction on their Ohio income tax return.

Contributions exceeding the $4,000 limitation may be carried forward and deducted on future year's returns until fully utilized, subject to the annual limitation of $4,000 per beneficiary.

07/28/2026

Tax Tip Tuesday:

Reminder! Ohio’s Sales Tax Holiday returns August 7–9, 2026—just in time for back-to-school shopping!
Shop eligible items tax-free and save on essentials for the school year.
✔️ Clothing priced at $75 or less per item
✔️ School supplies priced at $20 or less per item
✔️ School instructional materials priced at $20 or less per item.
Plan your savings!:

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07/21/2026

Tax Tip Tuesday:

You could notice a small increase in your paycheck starting in August!

The Ohio Department of Taxation has issued new Ohio withholding tables for payrolls that end on or after August 1, 2026.

This change was necessary due to income tax rate reductions authorized under House Bill 96 (136th General Assembly). Ohio is moving from a graduated income tax system to a flat tax. Starting in 2026, a single flat rate of 2.75% will apply to most taxpayers.

07/14/2026

Tax Tip Tuesday:

Self-employed? Don’t get hit with a big bill in April. Make quarterly estimated tax payments!

Deadlines for 2026: April 15, June 15, Sept 15, and Jan 15.

Avoid underpayment penalties by paying as you earn. Tools like IRS Direct Pay make it easy.

https://www.irs.gov/payments

Make payments, view your account or apply for a payment plan with the IRS.

07/07/2026

Tax Tip Tuesday:

Paying student loans? You may deduct up to $2,500 in interest — even if you don’t itemize! The loan must be in your name in order to deduct the student loan interest.

The deduction begins to phase out for single filers with a modified adjusted gross income (MAGI) over $85,000 and for joint filers over $175,000.

07/04/2026