Erica's Professional Bookkeeping & More, LLC

01/27/2026

Refund Advance Loan

01/27/2026

01/26/2026 Tax season

No tax on overtime: It's not no tax on overtime, its no tax on qualified overtime, & its only on the half part of your time and a half. The no tax on overtime, of course is only up to $12,500 for single filers & $25,000 for joint married

Tax season begins today!

Thanks to President Trump's Working Families Tax Cuts, Americans will reap the benefits of a HISTORIC 2026 tax season, with the largest tax cut in U.S. history. 💰

08/25/2025

This is an early draft of a IRS 2026 W-2.

04/08/2025

Many business owners assume that every business purchase qualifies as a tax deduction, but that is not always the case.

The IRS has strict rules on what can and can not be deducted!

To be deductible, an expense must be both ordinary and necessary. An ordinary expense is one that is common in your industry, while a necessary expense is essential for business operations.

If an expense is used for both business and personal purposes, such as a car or phone, only the business portion is deductible. It is important to keep clear records to separate personal and business use.

Meals and entertainment expenses also have limitations. If you take clients to dinner, only fifty percent of the meal may be deductible. Entertainment expenses, such as event tickets, are usually not deductible.

Certain clothing and gifts have restrictions as well. A branded t-shirt may qualify, but a full wardrobe does not. Client gifts over twenty-five dollars are only partially deductible.

Keeping proper records and working with a tax expert can help ensure that you maximize deductions while staying compliant with tax regulations.

If you are unsure about what qualifies as a deduction,
let's chat!
https://linktr.ee/ericasprofessionalacct

04/07/2025

Reducing Fees & Penalties - Did You Know?

If you are required to file your taxes, you should still file, even if you can't pay, as the failure-to-file penalty may be 10 times more than the failure-to-pay penalty. If you are unable to pay in full, try to file your tax return by the deadline of April 15th, 2025 and pay as much as you can. The IRS also has Installment Payment Plans available that you may qualify for.

In addition, April 15th is also the due date for Tax Year 2025 first quarter estimated tax payments for those making estimated payments.

03/19/2025

Starting a business involves planning, making key financial decisions, and completing a series of legal activities.
Here at Erica's Professional Bookkeeping & More, LLC can help you succeed with your business with
Planning your business
Launch your business
Manage your business
Growing your business
We are just a phone 📞 call away or email 📧
Schedule your consultation

https://linktr.ee/ericasprofessionalacct

03/01/2025

📢 Marketing can help you attract new customers and grow sales! 📈

Learn how to create a basic marketing plan: https://www.sba.gov/business-guide/manage-your-business/marketing-sales

💡

12/31/2024

Email 📧, call 📞, text, or click on my link to set up a free consultation.
https://linktr.ee/ericasprofessionalacct

12/09/2024

Get it back retroactive: Have peace of mind about your books, and we will get them back on track and keep them clean.

Book your free consultation!

https://linktr.ee/ericasprofessionalacct

12/05/2024

BREAKING NEWS TAX PROS!

A federal district court in Texas puts the BOI reporting on hold for ALL businesses!

What are your thoughts on this?

11/28/2024

Happy Thanksgiving 😊

11/27/2024

Use Savings Bonds to Pay for College and Get a Tax Advantage – Did You Know?

Ordinarily, interest earned on U.S. savings bonds is taxable income. However, if you pay higher education costs, then you may qualify to cash in federal series EE or I bonds tax-free. The IRS Education Savings Bond program allows eligible people to exclude some or all of their U.S. bond interest from their gross income, provided that they use the bonds to pay tuition and certain required fees at a qualifying higher education institution.

To be eligible for this program, you must pay the education expenses for yourself, your spouse or a dependent. The program is subject to income limits, which the IRS adjusts annually for inflation. Other eligibility restrictions may apply, such as limitations on the expenses you may pay using the bonds if the student also receives tax-free scholarship funds. A tax professional can help you determine whether you qualify for the Education Savings Bond program, and if so, how much of the interest on your bonds could be exempt from tax.