S. Preston Douglas & Associates, LLP

07/17/2026

- As of July 1, the IRS standard mileage rate will go up by 3.5 cents per mile to 76 cents for the optional mileage rate for automobiles driven for business.

Learn more and how this applies to you, businesses, and your wallet -

Drivers may not know it quite yet, but the Internal Revenue Service put new, higher mileage rates into place effective July 1.

07/16/2026

- there have been changes to the adoption credit you may qualify for.

Earlier this year, the IRS noted that if you finalized an adoption in 2025 or started the adoption process, you may qualify for the Adoption Credit. The maximum amount, for this year, is $17, 280 per eligible child.

Also, Indian tribal governments now have authority to determine whether a child has special needs for the purpose of claiming the Adoption Credit.

If you think this may apply to your situation, please learn more - https://www.irs.gov/newsroom/notable-changes-to-the-adoption-credit

07/14/2026

The good news is that a home office tax deduction exists to help certain taxpayers recoup these expenses on their federal income tax returns.

The catch? Read about it here - https://www.kiplinger.com/taxes/tax-deductions/604147/home-office-deduction-work-from-home

07/13/2026

HAPPY MONDAY!

At SPD&A, we're far more than taxes as we offer this reminder - https://spdouglas.com/archive.php?archive=072026 #3 - and ask you, How much is enough?

By clicking the above link, you'll gain access to the latest thoughts regarding the right amount of emergency funds to have accessible to support your lifestyle and broader financial strategy.

Have questions? Great! We're here to help.

07/09/2026

Yesterday, the Internal Revenue Service announced a new automatic process to provide penalty relief for taxpayers with a history of filing and paying on time, reducing the need for them to request assistance.

Is this something you would benefit from? Read more - https://www.irs.gov/newsroom/irs-simplifies-penalty-relief-introduces-automatic-process-for-eligible-taxpayers - and please let us know if we can assist with your filing.

07/07/2026

Getting ready to retire? Are you wondering what the tax rate will be for you on income?

Check it out - https://kiplinger.com/retirement/602202/taxes-in-retirement-how-all-50-states-tax-retirees - and find out what the rates are in NC and SC.

Find out how income taxes in retirement stack up in all 50 states plus the District of Columbia.

07/06/2026

HAPPY MONDAY!

If you own a vacation home, are you fully aware of how it can affect your taxes? Do you know about the 14-day rule?

If you are unsure or answered "No" to the above questions, you'll want to read this - https://spdouglas.com/archive.php?archive=072026 #2 - and as always, contact us with any questions.

07/03/2026

Wishing you all a happy, healthy, and safe July 4th holiday.

07/02/2026

Have you received an audit notice from the IRS in the mail?

We've guided clients through audits for over 80 years. We know the process, we know what to expect, and we know how to best help you.

06/30/2026

Small business taxes are anything but simple.

Between deductions, deadlines, and ever-changing regulations, it's a lot to keep up with, especially when, oh yeah, you're also running a business.

We understand small business inside and out. We'll make sure you're not leaving money on the table or losing sleep due to extended hours.

You've got enough on your plate. Let's take taxes off of it.