FS Tax Service Inc.

@_fabiansaldivar & his team provide tax preparation, tax planning, & tax advisory services to self-employed entrepreneurs nationwide. 👇🏽

[FS Tax Service Inc. @FSTaxServiceInc]

Ready for tax time? Schedule your appointment with me or my team using the link below 👇🏽

https://t.co/zzhPD0b6oh

[Jeremy Wells @JWellsTax]

IRS just issued a new set of FAQs on the qualified overtime deduction ("No Tax on Overtime")!

The shift: the qualified-OT deduction now depends heavily on employer reporting.

The employee can earn the premium and still lose the deduction if the right box is blank!

(Q&As 6, 20)

[Zachary Hellman, EA, CFE @taxpreptech]

IRS introduces Automatic Exemption from Penalty and sunsets the First Time Abatement administrative waiver program. https://t.co/e6NJiZAXBN

[Phyllis Jo Kubey @PKubeyEA]

The #IRS announced today that taxpayers can file #Kwong refund claims via their online accounts. No digital submissions for #taxpros, sadly. Seems like a perfect opportunity to enhance our online Tax Pro accounts…https://t.co/G361IDRFXR

[Grant Dougherty EA @doutaxsolutions]

California recently charged 14 residents with felony tax evasion

Why?

By registering their luxury vehicles in Montana to avoid California taxes…. all thanks to a loophole they saw online…

Montana Car Tax Loophole

Get you a trusted tax advisor and chill😎

[Diego Hinojosa, EA @diegometrotax]

Hey, the IRS Might Owe YOU Money – Kwong Ruling Breakdown

🚨 BIG NEWS for anyone hit with IRS penalties during COVID: A landmark court ruling in Kwong v. United States (Nov 2025, U.S. Court of Federal Claims) just changed the game!

The court ruled IRC §7508A(d) mandated AUTOMATIC deadline extensions from Jan 20, 2020, to July 10, 2023. IRS couldn’t cap it at 1 year.

That means many failure-to-pay/file penalties & interest from 2020-2023? Potentially INVALID. You might get refunds! 💰
Who’s this hitting? Drop a 🔥 if you paid late fees back then.

[Tom Gorczynski @TGorcz]

The IRS released a safe harbor procedure that would avoid the filing of millions of Form 709 gift tax returns due to contributions to Trump accounts. However, the details matter—if you must file Form 709 anyway, the Trump account contributions have to be reported. This is not universal reporting relief.

Read the details with examples in today's Tom Talks Taxes article! https://t.co/jLV7xtbvbJ

[FS Tax Service Inc. @FSTaxServiceInc]

@tax_zack lol I know the feeling!

[Garrett Alexander, CPA @YourLocalTaxGuy]

“Hey I saw on TikTok something about Section 179 and something ‘Roth conversion’…”

“…yea let’s just get this bank relinked in Quickbooks first big bro.”

[Jaynit @jaynitx]

Bill Ackman literally gave a 44-minute masterclass that explains money better than any business school:

[Tom Gorczynski @TGorcz]

The IRS, in its new version of the Form 1040 instructions, changed the calculation of the qualified tips deduction for non-employees. Read all about it in today's Tom Talks Taxes article: https://t.co/MIFCz9wK1E

[FS Tax Service Inc. @FSTaxServiceInc]

@Budgetdog_ Yupp. When systems are in place everything is easier.

[IRS Small Biz @IRSsmallbiz]

The fourth quarterly estimated tax payment for 2025 is due to the #IRS on January 15. Learn more: https://t.co/5YG54PeD70 #Smallbiz

[FS Tax Service Inc. @FSTaxServiceInc]

The IRS announced it will begin accepting
business tax returns on January 13, 2026.

Business returns are SCorp, Corp, Partnerships for example.

Sole proprietorships have to wait until the IRS starts accepting Individual Tax Returns, typically towards the end of January.

[The Money Cruncher, CPA @money_cruncher]

🚨IMPORTANT: 529 plans just became more powerful under the new tax bill.

If you have kids (or plan to), you need to know these changes.

Here's what's different:

[Bloomberg Tax @tax]

Cryptocurrency investors will head into a confusing tax season as they receive the first-ever batch of reporting statements disclosing information from their digital asset transactions and navigate potential differences in federal and state rules. https://t.co/ebNYSixPrp

[FS Tax Service Inc. @FSTaxServiceInc]

@Budgetdog_ @SteveMcIsaac Just my 2 cents. Many people having issues with that 6.2 engine. I know a few clients that have the diesel engine instead and haven’t had issues or even the smaller gas engine doesn’t seem to have those problems…

[Ankur Nagpal @ankurnagpal]

Most tax planning to save money on your 2025 taxes has to be implemented by December 31

Here's your end-of-year guide for every tax planning move you need to look into before the end of the year:

[Jarett Busacca, CFP® @jarett_busacca]

Quick reminder:

An LLC does not give you special tax deductions.

Picture this: two people own home-services businesses. Both stop for gas to fill up their boat before the weekend.

Person 1 uses their personal card.
Person 2 proudly uses the card for their fancy Wyoming LLC.

Guess what?
Neither one gets a deduction.
Because boating on Saturday is not a business expense, no matter how impressive the entity name sounds.

LLCs are great for liability protection.
They don’t magically turn personal spending into write-offs.

Don’t let the marketing fool you. Only real business expenses are business expenses.

[Jarett Busacca, CFP® @jarett_busacca]

Quick S Corp reminder:

If you elect S Corp status, you have to pay yourself a W-2 salary.

I’ve talked to a few prospects lately who set up the S Corp because “everyone says it saves taxes,” but didn’t realize one of the most imporant parts is paying yourself a salary.

And it has to be reasonable.

Which, of course, the IRS defines as… “reasonable.” Super helpful.

Figuring out what that actually means depends on your role, industry, and workload. Get it wrong and it’s an easy audit trigger.

I know some great accountants who can help you nail this down. Happy to point you in the right direction.

[FS Tax Service Inc. @FSTaxServiceInc]

@LoganGrafTax We have been scheduling tax return appointments since we started our business in 2019 and it’s worked out really well. It has allowed us to grow sustainably and also sets expectations as you mentioned.