Charitable giving can be deeply personal, but the tax impact can be beneficial to you as well. If you want your donations to support your overall tax plan, it helps to think about your giving strategy early in the year instead of waiting until December. That's even more important in 2026 because the OBBBA (One Big Beautiful Bill Act) introduced new rules that change how charitable deductions work.
Many people think their tax outcomes are established when they file their return, but most of the important steps happen much earlier. The decisions you make throughout the year affect what you owe, your cash flow, and whether you face penalties. Checking your W-2 withholding is a key way to stay on top of your taxes. This post continues our Tax Advisory Services series by looking at how withholding reviews fit into proactive planning and why this step matters long before tax season arrives.
Homeownership often comes with the expectation of tax benefits. In practice, those benefits are not automatic. Many depend on what decisions you make during the year, as well as how well you document those decisions. This is where tax advisory services play an essential role. Instead of being reactive at filing time, homeowners who consult with their CPA proactively prior to tax season can better understand which strategies apply to them and which do not.
As a small business owner, you've likely heard of the Qualified Business Income (QBI) deduction, but you may not be sure why it applies one year and disappears the next. That uncertainty usually comes from treating QBI as a filing issue rather than a planning opportunity. In reality, QBI outcomes depend on decisions made throughout the year. This is where tax advisory services make a meaningful difference.
This post continues our tax advisory series by explaining how thoughtful QBI optimization can support stronger after-tax results and more predictable planning for the year ahead.
As a taxpayer, you might assume your biggest tax decisions happen in March or April. The truth is, by that point, most of the outcomes are already locked in. Effective tax advisory work happens much earlier and focuses on decisions made during the year which help to shape your end results. Over the next seven weeks, we’ll be exploring more advanced tax reduction strategies, from specialized business deductions to high-income individual tax credits, that help you keep more of what you earn.
A fresh tax year creates a clean slate for planning, and January is the ideal time to set yourself up for a stronger financial position. Whether you work for yourself, manage a small business, or juggle multiple income streams, early action can help you avoid penalties and improve your cash flow. Myrick CPA works with clients across the country to build smart, forward-looking strategies that begin well before the first deadline.
As 2025 comes to a close, it's time to review your tax situation for the upcoming year. If your income isn't fully covered by withholding, your first quarterly estimated tax payment for 2026 will be due early in the new year. Evaluating your numbers now can help you avoid penalties. Myrick CPA assists clients nationwide with year-end projections for easier management.
You're more than ready for the festive feelings, celebrations, and joy of the winter holidays, but is your budget? By the time you factor in travel expenses, gifts for your nearest and dearest, meals, and all those special events, you may find costs have snowballed quicker than you expected. If you take a few practical steps now, though, before the holidays are in full swing, you can stay financially balanced throughout the season so you can step into the new year with confidence.
As the year winds down, a little planning can make a real difference on your tax bill. The last quarter is a smart time to review income, deductions, and contributions so you head into filing season prepared. Whether you file as an individual or you run a business, the steps below will help you finish the year with fewer surprises next spring.
As a non-profit leader, you know tax-exempt status is a foundational part of your organization. Still, the IRS requires organizations to meet specific operational standards each year to maintain that status. Small shifts in funding, mission, or structure can affect your eligibility over time, creating a risk of non-compliance. A periodic review is the best way to avoid costly surprises and ensure your organization continues to operate on solid ground.