What are the opening hours?

Monday 10am - 4pm Tuesday 10am - 4pm Wednesday 10am - 4pm Thursday 10am - 4pm Friday 10am - 4pm Saturday 10am - 12pm

Anima CPA, 53 Bay Street, 2nd FL, Winslow, ME (2026)

03/27/2026

💡 Why Smart People Donate Stock Instead of Cash

Most people donate cash.
Smart people? They donate appreciated stock.

Here’s why 👇

📈 Example:

You bought stock for $10,000
Now it’s worth $50,000

👉 If you sell it and donate cash:
You pay tax on the $40,000 gain first

👉 If you donate the stock directly:
✔️ No capital gains tax
✔️ You still deduct the full $50,000

Same donation. Less tax. More impact.

🔥 Why this works:
Under Internal Revenue Code Section 170, you can deduct the fair market value of appreciated assets held over 1 year.

🚨 When this strategy is powerful:

You have highly appreciated investments
You already plan to donate
You want to reduce taxes and rebalance your portfolio

⚠️ When NOT to do this:

Stock went down → sell it first, take the loss, donate cash
You don’t itemize → no extra benefit

🧠 Pro tip:
Donate your most appreciated stock and keep your cash.
Let the IRS miss out on the tax… not you.

✨ Giving is good.
Doing it tax-efficiently? Even better.

02/25/2026

🎓 Is Room & Board Scholarship Taxable?

Short answer: Yes — in most cases.

Many families assume that all scholarship money is tax-free. Not exactly.

Here’s how it works:

✅ Tax-Free (Qualified Education Expenses):
• Tuition
• Required enrollment fees
• Required books and supplies

⚠️ Taxable:
• Room & board
• Meal plans
• Travel
• Living expenses
• Any amount over qualified expenses

If scholarship funds are used for housing or meals, that portion is generally considered taxable income — even if you never received a 1099.

Planning ahead can prevent surprise tax bills, especially for dependent students.

If you have a student in college, this is something you absolutely want to review before filing.

02/24/2026

Self-Storage Business
Schedule E vs. Schedule C — What You Need to Know

ANIMA CPA LLC | Tax Planning & Wealth Strategy

1️⃣ Most Self-Storage Is Rental (Schedule E)

If you are renting storage units where:

Customers have exclusive use of their unit

Rentals are typically month-to-month

You provide minimal services (security, gate access, lighting)

You are not providing labor, moving services, or handling inventory

Then your activity is generally considered rental real estate.

Reported On:

Schedule E

Tax Treatment:

Net income is NOT subject to self-employment (SE) tax

Losses are generally passive

Passive losses may be limited and carried forward

2️⃣ What Does “Passive Loss” Mean?

If your storage activity shows a loss:

The loss may not offset W-2 income or other active income

The loss is carried forward

You benefit when:

The property produces passive income in future years

You sell the property in a taxable transaction

You qualify as a real estate professional and materially participate

Losses are tracked on Form 8582 and are not lost — only deferred.

3️⃣ When Would It Be Schedule C?

Your storage operation may be reported on Schedule C if it is NOT a rental activity.

This can happen if:

Average customer use is very short-term (like daily rentals)

You provide significant personal services

You actively manage and materially participate in a non-rental operation

Examples:

Providing moving labor

Handling inventory for customers

Frequent on-site service support beyond basic maintenance

Important Difference:
Schedule E Schedule C
Self-Employment Tax on Profit No Yes
Loss May Offset W-2 Income Usually No Yes (if materially participating)

While Schedule C may allow current loss usage, future profits will be subject to self-employment tax, which increases overall tax cost.

4️⃣ Why Proper Classification Matters

Incorrectly reporting rental activity on Schedule C may:

Trigger unnecessary SE tax

Increase audit risk

Create long-term tax inefficiencies

Most traditional self-storage operations are properly reported on Schedule E.

5️⃣ Planning Opportunities

We evaluate:

Whether the activity qualifies as rental

Real estate professional status eligibility

Grouping elections under passive activity rules

Long-term disposition strategy

Depreciation and cost segregation opportunities

Proper structuring can significantly impact lifetime tax results.

Questions about your storage operation?
Schedule a planning consultation before filing — classification decisions affect long-term tax strategy.

ANIMA CPA LLC
Tax Planning | Advisory | Real Estate Strategy

02/23/2026

❄️ Storm Update: Our office is closed today due to severe weather.

02/18/2026

💡 OBBBA Changes Charitable Deductions — Here’s What You Need to Know

The new One Big Beautiful Bill Act (OBBBA) just reshaped how charitable deductions work starting in 2025–2026.

If you or your clients give to charity, this matters.

🔹 1️⃣ Big Change for Non-Itemizers (Starting 2026)

Even if you take the standard deduction, you can now deduct up to:

• $1,000 per filer
• Permanent provision

That’s new. That’s planning opportunity.

🔹 2️⃣ New 0.5% AGI Floor for Itemizers (Starting 2026)

Charitable deductions will only count after exceeding 0.5% of AGI.

That means small donations may not create a tax benefit unless they cross that threshold.

👉 Translation: Random year-by-year giving may be less efficient.

🔹 3️⃣ 60% Cash Contribution Limit Is Permanent

Cash donations to public charities remain capped at 60% of AGI.

At least something stayed predictable.

🔹 4️⃣ Effective Benefit Shrinks for High Earners

Top bracket taxpayers now receive a maximum 35% tax benefit per dollar donated, down from 37%.

It’s subtle. But it affects large gift planning.

🔹 5️⃣ New Scholarship Credit (Up to $1,700)

OBBBA introduces a new tax credit for contributions to certain scholarship organizations supporting K-12 education.

Credits are often more powerful than deductions.

🔎 Planning Strategy Shift

These changes mean:

✔️ Bunching strategies need to be recalculated
✔️ Clients near the 0.5% AGI threshold require timing strategy
✔️ QCDs (Qualified Charitable Distributions) for 70½+ may become even more attractive
✔️ Corporate donors now face a 1% floor

Charitable planning is no longer “donate and deduct.”
It’s now sequencing, thresholds, and modeling.

As always, good planning is proactive — not reactive in April.

02/17/2026

💰 Think Social Security Is Tax-Free? Not So Fast.

Many retirees believe that if they only receive Social Security benefits, they don’t owe taxes.

Often true.

But here’s where it gets interesting 👇

The moment you take money from:
• Traditional IRA
• 401(k)
• Pension
• Even tax-exempt interest

You may trigger something called “combined income.”

Combined income =
½ of your Social Security

other taxable income

tax-exempt interest

If that number goes above:
• $25,000 (Single)
• $32,000 (Married Filing Jointly)

👉 A portion of your Social Security becomes taxable
👉 Up to 85% of it can be included as taxable income

Yes. Just a small retirement withdrawal can cause a ripple effect.

⚠️ That’s why “just take a little from my IRA” is not always simple.

Smart planning means:
✔ Running the numbers before taking distributions
✔ Watching tax brackets
✔ Coordinating withdrawals with Social Security
✔ Planning ahead for RMD years

Sometimes paying a little tax now is smarter than paying a lot later.

Retirement tax planning is not about avoiding taxes completely.
It’s about controlling them.

02/11/2026

🚗 Did you buy a new car in 2025 or 2026? You might be eligible for a TAX DEDUCTION on your loan interest! 💸

The "One Big Beautiful Bill" (OBBBA) introduced a new federal tax break that lets you deduct up to $10,000 in car loan interest annually from 2025 through 2028.
Are you eligible? Check these 5 rules:

✅ Brand New Only: The car must be new when you bought it; used cars and leases do not qualify.
✅ Made in the USA: The vehicle must have undergone "final assembly" in the United States. (Tip: Check your doorjamb sticker or use the NHTSA VIN Decoder to verify).
✅ Personal Use: The vehicle must be for personal use (not strictly for business).
✅ Weight Limit: Must have a Gross Vehicle Weight Rating (GVWR) of less than 14,000 lbs (this covers most cars, SUVs, and pickups).
✅ Income Limits: The deduction starts to phase out if your income (MAGI) is over $100,000 (Single) or $200,000 (Joint).

Pro-Tips for Filing in 2026:
You can claim this even if you take the Standard Deduction—you don't have to itemize!.

You MUST include your vehicle's VIN on your tax return to get the credit.

Look for Form 1098-VLI from your lender, which reports how much interest you paid.

Always consult a tax professional to see how these new 2026 rules apply to your specific situation! 📑

02/10/2026

Tax Update for 2025 Individual Tax Year under the “One Big Beautiful Bill” (OBBBA)

Read this before you file and accidentally donate extra money to the IRS.

👵 Seniors (65+): Additional deduction up to $6,000 (enhanced through 2028).

🏠 SALT Deduction

The SALT cap jumps from $10,000 → $40,000
(Available for taxpayers with income up to $500,000)

Yes. From 10k to 40k. That’s not a typo.

⏳ New Temporary Deductions (2025–2028)

• Qualified Tip Income – Deduct up to $25,000 (income limits apply)
• Qualified Overtime Pay – Special deduction for eligible workers
• Car Loan Interest – Deduct up to $10,000/year on qualifying new U.S.-assembled personal vehicles

Apparently we’re now deducting overtime and car loans. What a time to be alive.

📊 Other Key Changes

• Tax Brackets – 10%, 12%, 22%, 24%, 32%, 35%, 37% rates are now permanent
• Child Tax Credit – Increased to $2,200 per child, inflation-adjusted starting 2026
• 401(k)/403(b) Limit – Increased to $23,500
• 0% Capital Gains Threshold – Increased to $48,350 (single filers)
• Energy Credits – Many credits are sunsetting
⚡ EV credit ends for vehicles purchased after September 30, 2025

🏥 Health Accounts

• FSA Limit – $3,300
• HSA Limit – $4,300 (individual) / $8,550 (family)

Tax law changes every year. Strategy should too.

This is general information only and not individualized tax advice. Plan before year-end if you want to actually benefit from these updates instead of reading about them next April and regretting it.

02/05/2026

🚗 New Tax Break: Car Loan Interest Deduction (Proposed Rules)

Starting with car loans taken out after Dec 31, 2024, taxpayers may be able to deduct up to $10,000 of car loan interest per year, even if they take the standard deduction. The IRS has released proposed rules explaining how this works.

Key points to know:
• Applies to personal-use passenger vehicles only
• Loan must be secured by a first lien on the vehicle
• Vehicle must be assembled in the U.S.
• No leases, salvage-title cars, fleet or commercial vehicles
• Refinanced loans qualify only up to the remaining original balance
• If the car is used partly for business, interest may be split between business and personal deductions

This is a proposed regulation, so details may still change, but it could be a meaningful tax savings for everyday car buyers.

⚠️ Educational only. Not tax or legal advice. Eligibility depends on individual facts.

02/04/2026

🚨 ERC UPDATE: What Business Owners & Tax Pros Need to Know 🚨

If you claimed (or were told to claim) the Employee Retention Credit (ERC) for Q3 or Q4 of 2021, pay attention. The IRS has officially shifted from “processing” to enforcement mode.

Here’s the short version ⬇️

🔹 Refund cutoff

ERC claims for Q3–Q4 2021 filed after Jan 31, 2024 will not be allowed or refunded after July 4, 2025.

🔹 Longer audit window

The IRS now has up to 6 years to audit ERC claims.

Some 2021 claims can stay open until around 2030.

🔹 Practitioner scrutiny

New due-diligence rules target ERC promoters and advisors.

Penalties apply for inadequate documentation and improper claims.

Criminal investigations related to ERC fraud are ongoing.

💡 What this means for business owners

ERC is not “free money.”

If your claim wasn’t solidly documented, it may still come back to haunt you.

Legitimate claims are fine. Sloppy or aggressive ones are not.

✅ Smart next steps

Review ERC claims for eligibility and documentation

Keep detailed records

Fix issues early instead of waiting for an IRS letter

The IRS has a long memory. And now, a longer statute of limitations.

⚠️ Disclaimer
This post is for educational purposes only and does not constitute tax, legal, or accounting advice. ERC eligibility and risk depend on individual facts and circumstances. Always consult your own tax advisor before taking action or relying on this information.

01/28/2026

🧾 What Trump Accounts Are

Trump Accounts are a new federal investment/savings program for U.S. children designed to give them a financial head start. You could think of it as a tax-advantaged investment account that functions like a traditional IRA when the kid turns 18.

🪙 How It Works (From the Official Site)

Every eligible American child gets a government-seeded $1,000 in their account.

The money is invested in stock market index funds — the site shows stocks like Nvidia, Home Depot, Tesla etc., as examples of growth.

The account is in the child’s name; a parent/guardian is the custodian until age 18.

You don’t have to contribute more, but you can add up to $5,000 per year to grow it faster.

Launch date: July 5, 2026 (accounts open then).

🧒 Eligibility & Contributions

Any child under age 18 with a Social Security number can have one.

To get the $1,000 seed deposit, the child must be a U.S. citizen born between Jan 1, 2025 and Dec 31, 2028.

Family, friends, employers, and even charities can make annual contributions.

Maximum personal contributions are around $5,000 per year (employer contributions count toward this).

📈 What Happens to the Money

Funds grow tax-deferred while the child is a minor.

Once the child turns 18, the account converts to something like a traditional IRA: they can let it keep growing or withdraw for things like education, a home, or starting a business (subject to IRA rules).

🧾 How to Open One

You’ll either:

Make an election on your tax return using a special IRS form (Form 4547), or

Sign up through trumpaccounts.gov when the portal is live after launch.

Anima CPA

03/27/2026

02/25/2026

02/24/2026

02/23/2026

02/18/2026

02/17/2026

02/11/2026

02/10/2026

02/05/2026

02/04/2026

01/28/2026

Address

Opening Hours

Website

Alerts

Contact The Business

Shortcuts

Share

Category

Monday	10am - 4pm
Tuesday	10am - 4pm
Wednesday	10am - 4pm
Thursday	10am - 4pm
Friday	10am - 4pm
Saturday	10am - 12pm