Financial Planning & Tax Center

Financial Planning & Tax Center Financial Planning & Tax Center

Tax planning is easier when your information is easy to find. A little organization before you sit down with the team at...
09/01/2026

Tax planning is easier when your information is easy to find. A little organization before you sit down with the team at Financial Planning & Tax Center can make the whole conversation more productive.

Here are three simple ways to prepare:
▪️ Gather your income records for the year
▪️ Note any major changes, like new business activity or a shift in income
▪️ Write down questions about deductions, estimated payments, or your business

A planning conversation happens before filing season, when there may still be time to address the decisions in front of you.

Call (715) 355-5008 or visit www.fptc.tax to request a consultation.

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it...
08/31/2026

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it’s headed — before year end. Tax planning opportunities may still be available, but they’ll become more limited as the calendar winds down. Whether you’re considering equipment purchases, compensation strategies, retirement plan contributions or other tax-saving moves, now is the time to look ahead and review your options. Call us at (715) 355-5008 to bring your 2026 tax strategy into focus.

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of...
08/28/2026

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of the awards are tax-free. To qualify for tax-free status, scholarships must meet three criteria: 1) The student must be a degree candidate at an eligible educational institution, 2) the award must be used to pay for tuition and fees, books, and certain supplies (not room and board or travel), and 3) the award can’t represent wages for teaching or research. Many graduate student awards have employment compensation components, so they may be taxable. Also, taxable scholarship money could potentially be subject to the “kiddie” tax. Contact us at (715) 355-5008 for more information.

How’s your business’s health now that we’re more than halfway through the year? If you’re not sure, it’s time for a chec...
08/26/2026

How’s your business’s health now that we’re more than halfway through the year? If you’re not sure, it’s time for a checkup. We can help identify strengths, diagnose risks and prescribe the right moves to keep your business thriving. Contact us at (715) 355-5008 to schedule your business wellness check today!

Whether you’re a first-time homebuyer or a long-time homeowner, mortgage interest may save you taxes. If you itemize ded...
08/24/2026

Whether you’re a first-time homebuyer or a long-time homeowner, mortgage interest may save you taxes. If you itemize deductions rather than claim the standard deduction, interest you pay on mortgage debt to buy, build or substantially improve a primary or second home generally is deductible. Points paid related to your primary residence may also be deductible. Beginning in 2026, mortgage insurance premiums potentially can be deducted as mortgage interest. The $750,000 debt limit for most mortgage debt incurred after Dec. 15, 2017, is now permanent. Contact us at (715) 355-5008 to discuss your tax situation.

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising...
08/21/2026

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising fuel costs. Effective July 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 76 cents per mile, up from 72.5 cents per mile for the first half of the year. The revised rate for medical and eligible moving purposes is 23.5 cents per mile, up from 20.5 cents per mile. For charitable driving, the 14 cents per mile rate remains unchanged. These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, keep detailed mileage records. Call us at (715) 355-5008 with questions.

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about fut...
08/19/2026

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about future estate tax liability. A spousal lifetime access trust (SLAT) may help. A SLAT can allow you to remove wealth from your estate tax-free while providing a safety net if your needs change in the future. Essentially, a SLAT is an irrevocable trust you establish for the benefit of your spouse plus your children or other relatives. Your spouse is granted limited access to the trust’s funds during his or her lifetime, giving you indirect access. Call us at (715) 355-5008 to discuss whether a SLAT makes sense for you.

If you’re age 50 or older, a great way to enhance your retirement nest egg is to make “catch-up” contributions to your 4...
08/17/2026

If you’re age 50 or older, a great way to enhance your retirement nest egg is to make “catch-up” contributions to your 401(k), 403(b), 457 plan, SIMPLE or IRA. And workers age 60 to 63 can potentially boost their 401(k) or other employer-sponsored retirement plan up to 150% of the regular catch-up limit. For 2026, this means an extra contribution of $11,250 ($5,250 for SIMPLEs). Want to make the most of tax-advantaged savings opportunities? Contact us at (715) 355-5008.

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you...
08/14/2026

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you understand the tax impact. Federal tax law generally treats such winnings as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. For example, if you win more than $5,000, generally the payer (lottery agency, casino, etc.) will withhold 24% for federal tax purposes — which may or may not be enough to cover your tax liability — and send you and the IRS a Form W-2G showing the winnings paid and tax withheld. There also might be state tax consequences. Call us at (715) 355-5008 to learn more.

Many small business owners find the concept of risk management intimidating. But essentially, it’s about identifying pot...
08/12/2026

Many small business owners find the concept of risk management intimidating. But essentially, it’s about identifying potential disruptions and making practical plans to guard against them. From cash flow slowdowns to staffing shortages, every business faces uncertainty. The key is being prepared, not overwhelmed. Call us at (715) 355-5008 for help reviewing your current risks, spotting emerging challenges, and making informed decisions that support long-term stability and growth.

Address

156535 E Wausau Avenue
Wausau, WI
54403

Opening Hours

Monday 8:30am - 4pm
Tuesday 8:30am - 4pm
Wednesday 8:30am - 4pm
Thursday 8:30am - 4pm
Friday 9am - 12pm

Telephone

(715) 355-5008

Website

Alerts

Be the first to know and let us send you an email when Financial Planning & Tax Center posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Financial Planning & Tax Center:

Shortcuts

Share

Category