Bookkeeping Concepts LLC

4 Tax-Smart Investment Moves Before Year End

As the end of 2026 approaches, look beyond investment performance and consider how taxes may affect your overall returns. Although tax considerations generally shouldn’t drive investment decisions, a year-end portfolio review may identify opportunities to reduce your taxes. Here are four to consider.

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Owning assets jointly with your adult child can invite unwelcome tax consequences that may outweigh potential benefits. For example, owning an asset together as “joint tenants with right of survivorship” can open up transfer tax exposure. If you add your child to the title of property you already own, it may be considered a taxable gift of half the property’s value. And when you die, half of the property’s value will be included in your taxable estate. A properly designed trust can be a more tax-efficient option. Call us at (770) 935-8200 for details.

As a small business owner, it’s easy to think of a succession plan as involving only two people: you and your successor. But a smooth transition may also require support from managers and other key employees. Communicating thoughtfully about your intentions and progress can help build confidence, reduce uncertainty and keep the business moving forward. Contact us at (770) 935-8200 for help addressing the tax, financial and strategic aspects of your plan.

Could Accessibility Upgrades Lower Your Tax Bill?

Improving accessibility at your business may come with a valuable tax break: Eligible small businesses can claim the Disabled Access Credit for certain costs related to improving accessibility for individuals with disabilities.

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To attract and retain skilled workers, your small business needs to offer more than competitive pay. Your benefits package matters, too. Tax-free fringe benefits may be especially valuable to employees. Examples include many types of insurance (health, disability, long-term care and life), assistance plans (dependent care, adoption and educational) and transportation benefits, subject to certain limits. The One Big Beautiful Bill Act also changed some fringe-benefit tax rules for 2026 and beyond. Open enrollment is right around the corner for many businesses. As you review your 2027 benefits package, contact us at (770) 935-8200 for help evaluating your offerings and fine-tuning them as needed.

Accurate bookkeeping and timely accounting records provide the foundation for informed decisions throughout the year. When your books are current and reliable, it’s easier to manage cash flow, identify operational issues and jump on growth opportunities. Contact us at (770) 935-8200 for help streamlining your financial reporting processes and reducing year-end surprises.

Could Bad Debts Lower Your 2026 Taxes?

When customers or others don’t pay what they owe your business, you may be able to claim a bad debt deduction to help offset the financial loss. But it isn’t automatic. Businesses must satisfy specific federal tax rules and maintain adequate records to support the deduction.

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Avoid underpayment penalties by staying on top of estimated tax payments and paycheck withholding. If you expect to owe at least $1,000 in taxes after subtracting credits and withholding, quarterly estimated payments may be required. Withholding and estimated payments must generally cover 90% of this year’s tax or 100% of last year’s tax (or 110%, depending on your income). Unsure if you’re on track? Let’s review your situation now to help avoid surprises when you file your 2026 return next year. Call us at (770) 935-8200.

Tax deductions and tax credits can both help lower your tax bill, but they work differently. A tax deduction reduces the amount of income you’re taxed on, while a tax credit directly reduces the amount of taxes you owe. Understanding which deductions and credits you may qualify for can help you avoid overpaying and make the most of your tax return.

Have questions about your taxes? Contact our team for professional guidance.

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When LTC Premiums Provide a Tax Break

Are long-term care (LTC) insurance premiums tax-deductible? It depends. Qualified LTC policies are considered health insurance under federal income tax rules. So if you buy a policy, your premiums are treated as medical expenses for itemized deduction purposes.

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