Gray, Callison & Jones, P.C.

09/18/2026

When a business is acquired, its customers don’t always transfer their loyalty to the buyer. Among other things, customers may worry about future pricing, quality and service. So if your business is anticipating an acquisition, plan how you’ll protect new customer relationships. Prioritize them based on factors such as their associated revenue, growth potential and strategic importance. Then communicate what will change and how those changes will benefit customers. To support continuity, offer retention incentives to the acquired company’s key employees. Contact us for help crunching customer numbers and identifying risks.

09/17/2026

The Section 45Z Clean Fuel Production Tax Credit is a tax incentive designed to encourage U.S. production of transportation fuels with lower lifecycle greenhouse gas emissions. It’s available for qualifying fuel produced after Dec. 31, 2024, and sold through Dec. 31, 2029. To claim the credit, taxpayers must produce qualifying fuel at a U.S. facility, be registered with the IRS as a clean fuel producer and sell the fuel to an unrelated party in a qualifying transaction. Recent guidance from the IRS (Notice 2026-53) provides the annual emissions rate table for calendar year 2026 used to calculate the credit. Contact us to learn more about the credit or visit: https://bit.ly/4imfcGE

09/16/2026

Three federal agencies recently issued guidance on employer-sponsored wellness programs. It addresses how health-contingent wellness programs, including tobacco-cessation programs, must treat participants who complete a reasonable alternative standard during the associated health insurance plan year. Until further guidance is issued, the agencies generally won’t take enforcement action against plans that provide a reward only for the period after participants satisfy an alternative standard rather than retroactively, as long as other applicable requirements are met. If your organization sponsors a wellness program, we can help you evaluate its financial, compliance and administrative costs.

09/15/2026

Employers: The IRS recently updated its FAQs on the qualified overtime pay tax deduction for employees created under the One Big Beautiful Bill Act. The guidance provides new details on how you must identify, calculate and report qualified overtime income. For example, it clarifies that only FLSA-mandated overtime premiums qualify, notifies employers that separate reporting on Forms W-2 is required beginning in 2026, and confirms that overtime pay remains subject to federal income tax withholding. These changes may call for payroll system updates and a closer review of employee classifications and overtime practices. Contact us for help preparing for the new requirements.

09/14/2026

As you review your business’s 2026 expenditures, pay close attention to work performed on buildings and equipment.

You can generally deduct ordinary repairs and maintenance expenses, but you must capitalize property improvements, including betterments, restorations and adaptations. Safe harbors may allow current deductions for some costs. Certain capitalized improvements may also qualify for a full first-year deduction through bonus depreciation or Sec. 179. Proper classification may affect recordkeeping, potential recapture and state tax deductions.

Contact us to help classify your 2026 expenditures and discuss potential tax-planning moves before year end.

09/11/2026

Robust sales don’t always translate into strong profits. A popular product could produce disappointing returns when you account for discounts, shipping, returns and support costs. At the same time, a lower-volume product could quietly generate an attractive profit margin. Product-level analysis can show where you’re generating the most profit. No single measurement will provide all the answers, but gross margin and contribution margin are critical. You should also evaluate product profitability by sales channel and customer segment. Contact us for help developing a practical approach to turning product data into profitable decisions.

09/10/2026

Sole proprietors and owners of pass-through entities, listen up! Last year’s tax legislation made permanent the Section 199A qualified business income (QBI) deduction. Generally, QBI is the net amount of qualified income, gain, deduction and loss from a U.S. business. In most circumstances, the deduction equals 20% of QBI (not to exceed 20% of taxable income). But if your taxable income exceeds certain limits, your QBI deduction may be reduced. Your deduction might also be reduced — or eliminated — if your taxable income exceeds the limits and your QBI is from certain types of professional practices or investment services. Talk to us for details and help maximizing your QBI deduction.

09/09/2026

For employers, sponsoring a retirement plan can help attract and retain talent. But it also creates fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA). If your organization has executives or other employees who’ve taken on job duties that qualify them as fiduciaries, be sure to manage the risk. For starters, provide appropriate training. In addition, document prudent processes for selecting and monitoring investments and service providers. Review whether your insurance adequately addresses fiduciary liability, too. Don’t rely entirely on ERISA fidelity bonds. Contact us for help evaluating your retirement plan’s financial and administrative considerations.

09/08/2026

If you work remotely and split your time between two states during the year, it can create state tax issues. A state with an income tax generally can tax all income of its residents and income earned within its borders by nonresidents. Residency rules vary but may consider your domicile, days spent in the state and whether you maintain a home there. Your domicile is generally your true, fixed, permanent home — the place you intend to return to. Some states may treat you as a resident for income tax purposes if you maintain a home and spend a specified number of days there. Contact us to review your situation and help determine whether you may have tax obligations in more than one state.

09/07/2026