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By Black Inc Tax Services Published: January 2026 The 2026 tax filing season is not just another annual routine. This year starts with two realities happening at the same time: The IRS is opening filing season while rolling out major tax-law changes and a leadership reorganization, and California is warning taxpayers about scams and pushing...Read More

BOI Reporting 101 for Small Businesses (LLCs & Corps) Many LLCs and corporations must file Beneficial Ownership Information (BOI) with FinCEN. If your company was formed by filing with a state (LLC, corporation, many LLPs), you’re probably a reporting company—unless you qualify for a narrow exemption (e.g., certain large operating companies). Who counts as a...Read More

Year-End 1099-NEC Prep: Get W-9s Now, Not in January If you paid $600+ to contractors (services) you likely owe a 1099-NEC. The #1 headache is missing/incorrect W-9s (name/TIN mismatches). Do this now Collect W-9s for every contractor (legal name, entity type, address, TIN).  Flag who gets 1099-NEC vs. 1099-MISC/INT.  Separate reimbursements from fees.  Export vendor...Read More

QBI for Pass-Throughs: Keep Your 20% Owners of S-Corps, partnerships, and some LLCs may qualify for the Qualified Business Income (QBI) deduction—up to 20% of qualified income—subject to limits (income thresholds, W-2 wage/property tests, and SSTB rules for certain service businesses). Levers to check before year-end Reasonable compensation (S-Corp): Pay a defensible W-2; then consider...Read More

Accountable Plan 101: Stop Leaving Money on the Table An accountable plan lets your company reimburse employees/owners tax-free for business expenses (phone, internet, home office portion, mileage, travel, supplies) when you keep proper receipts and substantiation. Core rules Business purpose required.  Substantiate timely (receipts, mileage logs).  Return excess reimbursements. Follow the rules and reimbursements aren’t...Read More

Sales-Tax Nexus for Small Brands: What You Actually Owe If you sell through Amazon/Etsy/Shopify and your own site, you may have economic nexus in multiple states. Marketplaces often collect/remit for marketplace orders, but not for your own-site sales—and you may still need to register and file. Quick checklist Economic nexus: Did you cross a state’s...Read More

Digital assets (1099-DA) Starting in 2025, “brokers” of digital assets will be required to report certain sales and exchanges on Form 1099-DA. That means gross proceeds, possibly basis, and a paper trail that ties crypto transactions back to a taxpayer ID. Translation: crypto is getting treated more like traditional brokerage activity. Traditional contractor reporting (1099-NEC...Read More

The reminder If you prepare tax returns for compensation, you must have an active PTIN for the upcoming filing season. The renewal is fast online, there’s a modest fee, and paper renewals take several weeks to process. How to renew without drama Log in to your PTIN account and renew for the next year.  Confirm...Read More

What changed The IRS released 2026 inflation adjustments for tax brackets, the standard deduction, and a long list of limits and thresholds. Example: standard deduction amounts for 2026 are increasing (married filing jointly, single, head of household, etc.). These apply to tax year 2026, which you’ll actually file in 2027. Why you should care before...Read More

The headline There’s a new information-reporting regime for interest on certain passenger vehicle loans. The IRS announced transition relief for 2025 — basically, “We know you’re not fully ready, but you still have to start preparing.” Who this affects If your business receives $600 or more in interest from a borrower in a year on...Read More