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

[Jeff Levine, CPA/PFS, CFP® @CPAPlanner]

🚨 The 2027 retirement contribution limits are HERE! 🚨

The IRS just released Notice 2026-66, and while some retirement savings limits are getting a nice bump next year, others aren't budging!

Here's a look at some of the highlights! 👇

🔸 IRA Contribution Limit: $7,500 (NO CHANGE). The age 50+ catch-up contribution also remains unchanged at $1,100, allowing eligible individuals to contribute up to $8,600.

🔸 401(k)/403(b) Deferral Limit: $25,500 (UP $1,000). That's an extra $1,000 employees can defer into their employer-sponsored retirement plans.

🔸 401(k)/403(b) Catch-Up Contributions: $8,500 (UP $500) for those age 50+. Meanwhile, the special "super catch-up" for those ages 60–63 increases to $11,750 (UP $500). That means eligible individuals can potentially defer as much as $37,250 in 2027!

🔸 SEP IRA Contribution Limit: $75,000 (UP $3,000). Of course, the applicable compensation and percentage limitations still apply.

🔸 Mandatory Roth Catch-Up Wage Threshold: $155,000 (UP $5,000). Employees who earned MORE than $155,000 in FICA wages from their employer in 2026 will generally be required to make any 2027 catch-up contributions to that employer's applicable retirement plan on a Roth basis.

💡 NERD NOTE: That last threshold is based on 2026 wages, NOT 2027 wages! And remember, the mandatory Roth treatment applies only to catch-up contributions, not regular elective deferrals.

For advisors, these changes are another reminder that even relatively modest annual inflation adjustments can create opportunities to help clients save more tax-efficiently.

📄 Source: IRS Notice 2026-66
https://t.co/GeIUkIfLog https://t.co/3n0HUQTQOW

[Tom Gorczynski, EA, USTCP @TGorcz]

The only way to get a deduction for a Trump, or §530A, account contribution is to make one through salary reduction via a §128(c) Trump account contribution program.

As we approach tax planning conversations this year with business owners, they should consider whether to set one up for next year to enable this option for their employees.

Learn about the benefits of a §128(c) Trump account contribution program in my Tom Talks Taxes article, linked below.

[Roman Puglise, CFP® @RomanPuglise]

Kids’ accounts: 529, UTMA, custodial Roth, Trump account.

Four options. Four different jobs.

Most families pick one by habit.

Here’s how to match the account to the goal👇

[IRS Small Biz @IRSsmallbiz]

If your #smallbiz accepts payments through credit cards, payment apps, or online marketplaces, you may receive a Form 1099-K. Use the form with your business records to report your income accurately when filing your tax return. https://t.co/cHN0pVVc6B #IRS

[Cooper Bradfish, CFP®, EA @clbradfish]

Make over $168,000 or $252,000 if married?

You can’t put money into a Roth IRA directly

But you can still get $7,500 into your Roth IRA yet this year

It's called the "Backdoor Roth", here's how it works: 🧵

[Kelly Phillips Erb @taxgirl]

You asked! After my annual 2027 tax bracket roundup, the biggest question was: How do the numbers compare with 2026?
I've got the side-by-side charts and an explanation of inflation and chained CPI.
There's even a coffee example. ☕
https://t.co/UpIO2PgaWc

[Ryan Odom @ryanmarkodom]

To anybody with a full-time W-2 and a side hustle:

You can open a solo 401(k) for your side hustle and make up to $72K in contributions/mega backdoor Roth contributions for 2026

On top of whatever you put into your company W-2 401(k) plan

Employee contributions are the only aggregate max between the two plans

Example:

Let's say I make $200K as a W-2 and contribute the full $24.5K as an employee to my company plan. Then my company matches 3%, so on $200K of wages, they put in another $6K. Total contributions = $30,500. Now let's say I also have a side hustle that makes $80K net. I could, if I wanted, open a solo 401(k) plan for this side hustle and put a full $72,000 into this plan through employer and mega backdoor Roth contributions. All mega backdoor Roth contributions grow tax-free, and the employer contribution is maxed at 20% * $80,000 minus 1/2 self-employment tax for a deduction on 2026 taxes

Such a good option as we approach a 12/31 deadline

[Cooper Bradfish, CFP®, EA @clbradfish]

“How do I lower my taxes as a high earning W2 employee?”

Good news: it’s not too late for this year

Here’s the 5 things you can still do before December 31: 🧵

[Zach Melloh, CFP® @zachmelloh26]

If you earn $150k+ on a W-2, how many of these tax planning strategies are you actually taking advantage of?

Here is a year-end tax planning checklist:

[Kelly Phillips Erb @taxgirl]

The 2027 federal income tax brackets are out. So what's your tax rate?
If you're single with $100,000 in taxable income, you're in the 22% bracket. But that doesn't mean you pay 22% on all $100,000.
Here's how marginal and effective tax rates work:
https://t.co/CV35JYm0Uk

[Kelly Phillips Erb @taxgirl]

It's here! The IRS has released the official 2027 tax brackets, standard deduction amounts, and dozens of other inflation adjustments.
I've rounded up the numbers, including capital gains rates, tax credits, estate and gift tax exclusions, and more.
https://t.co/ATMKXx8kGy

[Craig Hausz, CPA @CPATaxTeam]

A prospect who "did their own books" sent us the link to the QBO file.

It was fully reconciled. He had financials too.

Wow! Great! "Got rid of my bookkeeper"

A closer inspection by a professional:

1. more than half the transactions were duplicates
2. the bank account reconciled to a number that wasn't on the bank statement
3. booking distributions as expenses
4. Several miscoded lines

You may replace the person doing the input but you need to know if they are accurate or not.

How many taxpayers filed business returns that weren't accurate last year?

[Kelly Phillips Erb @taxgirl]

$500 "Obamacare refund” checks are going out.
No, they’re not tax refunds. And no, you didn’t pay a separate $500 fee that’s now being returned.
Here’s who should expect one, where the money came from, and what you need to know:
https://t.co/YNYXatnA76

[Breaking911 @Breaking911]

Treasury Department just confirmed you can cut your federal tax bill dollar for dollar by funding K-12 scholarships instead of federal bureaucrats: give up to $1,700 as a single filer or $3,400 as a married couple, and you owe the IRS that much less, with no marriage penalty, starting January 1, 2027. Parents get choice. Bureaucrats get less of your money!!

[Kurt Supe, CPA & Retirement Planner @KurtSupeCPA]

One of the strangest rules in the entire tax code:

A father deeds the house to his daughter at 80. Kind, simple, avoids probate. She inherits his original 1987 cost basis with it. When she sells, she pays capital gains on 40 years of growth.

His neighbor does nothing. His kids get the same house through the estate. Their cost basis resets to the value on the day he dies. 40 years of gains, wiped clean, tax gone.

Same house. Same situation. The generous move cost 6 figures. The lazy one was free.

Sometimes the best estate plan is knowing when doing nothing is the strategy.

[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, EA, USTCP @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