Robyn D. Young, CPA, LLC

- - - - -

CLIENT PORTAL | INQUIRIES

QUICK AND TIMELY TAKES

BIG BEAUTIFUL BILL AND OTHER NEW TAX HIGHLIGHTS

• Individual tax and capital gains rates didn't change, but the brackets did.
• SALT limits increased to $40,000! You might want to itemize again - check your other medical and charitable contributions throughout the year!
• No change for social security benefits being partially taxable - however, seniors (over 65) get a standard deduction bump of $4,000 per taxpayer!
• Business competition gets a spending deduction boost by immediate expensing for Domestic R&E or retroactive cash-up deductions.
• Federal tax changes and State Conformity - caution - check what is or is not allowed on your State return before you file, or you may extend or amend.

There are a number of individual changes that go into effect in 2026. We are able to help you plan for any major tax events such as these law changes, retirement, home sales, or inheritances or other lifetime changes. Questions? Contact us for an appointment.

THE IRS AND YOUR TAXES

• AFTER 09/30/2025, to help defend from fraud, the IRS are moving to not accept checks for tax payments, including estimated taxes - recommended online payments at https://www.irs.gov/payments/ - (exceptions still apply as this transitions).
• Access your taxpayer account and records with the IRS to match tax payments, credits, and what is being reported to the IRS.
• Amending a return? Filing late? Check the Statute of Limitations and claims for refund dates, as they may expire.
• Beginning Jan. 1, 2026, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
  • 72.5 cents per mile driven for business use, up 2.5 cents from 2025.
  • 20.5 cents per mile driven for medical purposes, down a half cent from 2025.
  • 20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces (and now certain members of the intelligence community), reduced by a half cent from last year.
  • 14 cents per mile driven in service of charitable organizations, equal to the rate in 2025.
  For 2025 tax filing - Standard Mileage rates:
  • 70 cents per mile driven for business use (2024 - 67 cents)
  • 21 cents per mile driven for medical (or moving purposes if for qualified active-duty members of the Armed Forces)
  • 21 cents for moving purposes if for qualified active-duty members of the Armed Forces
  • 14 cents per mile driven in service of charitable organizations; this rate is set by statute and sadly remains unchanged

ARIZONA AND YOUR TAXES

• Federal tax changes and Arizona Conformity - caution - as of 01/16/2026 Governor Katie Hobbs has vetoed conformity
• Keep your records a little longer - Arizona has a 4-year statute of limitations (the IRS is 3 years)
• Education Savings Deductions are per Beneficiary, not per Taxpayer.
• • Main choices are between a Coverdell Account and a 529 Plan account.
  • In any year, with no income limits, you can contribute to either or BOTH!!!
  • There is no deduction for Coverdell accounts - but the option of investing in specific stocks can be very appealing!
  • 529 Plans limit investment choices, but do have a deduction of $2,000 per *beneficiary* ($4,000 per beneficiary for a married filing joint return)
• The Arizona Standard Deduction can get a bonus of adding 33% of qualified charitable contributions not used for credits or claimed on your Federal return
• Use Arizona taxes with Charitable Tax Credits to pay your taxes, even up until 04/15/2026 to make donations and apply them to 2025!

Updated 01/16/2026

FOR YOUR DAILY DOSE OF HUMOR

---

- - - - -

ROBYN D. YOUNG, CPA, LLC was established in 2005. Focus areas include income tax preparation with planning and consulting for individuals, businesses, estates, and trusts. We provide fiduciary, court, and conservatorship accounting services, as well as accounting for tax return preparation, if needed. Our clients benefit from our extensive network, years of experience, and endless pursuit of knowledge and further developing talents.

Our mission is to serve you by providing expertise, independence, and professionalism while maintaining a personable relationship.

Website content is intended to provide accurate, current, and general information.
Contact our office to address your specific accounting, tax, or other planning needs.