What are the opening hours?

Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Hudak & Company, 1013 Mumma Drive, Lemoyne, PA (2025)

11/10/2025

Injured Spouse Relief - Did You Know?

If you file a joint tax return and the IRS withholds your refund due to debts owed only by your spouse, you may be able to claim your share of the refund. This program, known as Injured Spouse Relief, may be available to you regardless of whether you live with your spouse.

11/03/2025

"No Tax on Car Loan Interest" Deduction – Did You Know?

The recently enacted One Big Beautiful Bill Act (OBBBA) created a new tax deduction for interest paid on certain car loans. Eligible people who initiate qualifying auto loans after December 31, 2024 may deduct up to $10,000 per year of loan interest, regardless of whether they itemize deductions on their tax returns.

Eligibility criteria for the deduction include income limits, and a requirement that the vehicle be purchased new for personal (not business) driving purposes. In general, to deduct car loan interest in full, a married couple filing a joint return must have a modified adjusted gross income (MAGI) under $200,000. For other filing statuses, the MAGI limit for the full deduction is $100,000. The deduction phases out at higher income levels. Other restrictions include a requirement that the vehicle underwent final assembly in the U.S.

If you qualify for the deduction, you will need to document the amount of auto loan interest you paid. You may receive a year-end tax form from the lender providing this information, but for this year, lenders may make the information available to borrowers in other ways. A tax professional can help you determine whether you qualify to deduct auto loan interest, and if so, help you properly report the interest you paid to get the largest deduction possible.

10/28/2025

2026 Healthcare Open Enrollment - Did You Know?

The 2026 open enrollment period for Marketplace health insurance begins this Saturday, November 1, 2025, and ends December 15, 2025 for plans starting January 1, 2026. During this period, you will be able to enroll in, renew, or change health plans for the coming year.

Once the Open Enrollment period is over, you will only be able to enroll if there's a qualifying life event for the Special Enrollment Period.

Enrollment can be done at https://healthcare.gov, and a simple checklist of documents you'll need can be found here: https://marketplace.cms.gov/outreach-and-education/marketplace-application-checklist.pdf.

10/21/2025

Flexible Spending Arrangements - Did You Know?

Changing jobs? Before leaving your current position, check the balance in your flexible spending arrangement (FSA). FSAs are generally not transferable to a new employer, and unused funds are often forfeited when you leave your job. Some employers may offer a short grace period or allow a small rollover amount, but many do not. To make the most of your pre-tax dollars, use any remaining FSA balance before your last day, such as by scheduling medical appointments or purchasing eligible health items.

10/15/2025

Qualified Dividends - Did You Know?

If you earn dividend income, take a close look at your year-end Form 1099-DIV to see whether any of your dividends are reported as “qualified dividends.” Qualified dividends meet certain IRS criteria, such as being paid by a U.S. corporation or qualifying foreign company and meeting specific holding-period requirements. These dividends are taxed at the lower long-term capital gains rates instead of ordinary income rates, which can reduce your overall tax bill.

10/06/2025

October 15th Filing Extension Deadlines

Taxpayers who requested an extension to file their 2024 federal income tax returns should do so by next Wednesday, October 15, 2025. The same deadline applies to C corporations that received an extension to file their 2024 corporate returns (Form 1120).

In addition, taxpayers with foreign financial accounts exceeding $10,000 at any point in 2024 who are required to file a Report of Foreign Bank and Financial Accounts (FBAR) should also do so by the extension deadline of October 15.

09/29/2025

IRS Issues New Warning About Tax Credit Scams

The IRS recently warned all Americans about the growing number of tax scams getting promoted on the internet and social media. Many of the scams involve fraudulently claiming tax credits like the Fuel Tax Credit and Sick and Family Leave Credit. In reality, the vast majority of people are not eligible for these credits, which can only be claimed by businesses and self-employed people under very specific circumstances.

The consequences of filing a return with improper credit claims may include denial of a refund, a $5,000 civil penalty, and additional tax penalties and interest charges. Over the last few years, IRS penalties assessed in connection with tax credit scams have totaled over $162 million.

Common traits of these scams include claims that "everyone qualifies" for a tax credit, promises of a rapid refund with little or no paperwork, advice to amend past tax returns by adding unusual credit claims, and encouragement to ignore or falsely respond to IRS notices. In reality, no one can determine whether you qualify for a tax credit without reviewing your circumstances. Anyone who says otherwise is almost certainly peddling a scam.

If you receive an IRS letter about a tax credit you claimed, or believe you may have been misled by one of these scams, seek guidance from a reliable source immediately such as a trusted tax professional.

09/22/2025

Work Opportunity Tax Credit Expiring at the End of 2025

The Work Opportunity Tax Credit (WOTC) provides a benefit for employers that hire people who have traditionally faced disadvantages when seeking work. However, the credit is only available through December 31, 2025.

To qualify for the WOTC, an employer must hire one or more individuals from a group specified in the rules for the credit. Those groups include:
- Qualified unemployed veterans (including veterans with disabilities)
- Recipients of public assistance like long-term unemployment, long-term family assistance, SNAP benefits, Supplemental Security payments or Temporary Assistance for Needy Families
- People who live in areas designated as empowerment zones or rural renewal counties
- People referred to vocational rehabilitation programs
- Formerly incarcerated people

The amount of the WOTC is generally based on wages paid to the qualifying worker, and you may claim the credit as part of the General Business Credit. Therefore, the credit is nonrefundable, but any unused credit may be carried forward or back under the usual rules. A business tax professional can help you determine whether your business qualifies for the WOTC, and if so, help you complete all the required paperwork to claim it before it expires.

09/15/2025

Quarterly Estimated Tax Payments - Reminder

If you are making quarterly estimated tax payments to the IRS, the due date for the June 1st - August 31st, 2025 quarter of year is today, September 15th, 2025.

For payments made using IRS Direct Pay, you can make payments until 11:45PM EST, and for payments using a credit or debit card, payments can be made up to midnight on the due date.

09/08/2025

OBBBA Reinstates 100% Bonus Depreciation for Many Capital Expenses

The recently enacted One Big Beautiful Bill Act (OBBBA) reinstated 100% bonus depreciation for many capital expenses, a policy that had previously expired at the end of 2022. Under this policy, businesses may deduct the entire cost of qualifying capital assets during the year that the assets are placed in service, instead of dividing that cost between multiple years.

Certain types of capital business property and investments will not qualify for 100% bonus depreciation. The IRS will provide further guidance on eligible expenses later this fall. Note also that 100% bonus depreciation will only apply to assets acquired and placed in service on or after January 20, 2025.

A business tax professional can help you determine which of your capital expenses qualify for 100% bonus depreciation, and help you devise the most advantageous depreciation strategies overall.

09/02/2025

Multiple Home Energy Credits to Expire at the End of 2025 – Did You Know?

Currently, the IRS offers homeowners a variety of tax credits related to energy efficiency and clean energy production and use. For example, the Energy Efficient Home Improvement Credit reimburses qualifying homeowners for a portion of the cost of certain high-efficiency heating and cooling (HVAC) systems, as well as the cost of insulation, doors and windows that reduce energy use. Meanwhile, home improvements that generate or use alternative energy, such as installing solar panels or a solar-powered water heater, may qualify for the Residential Clean Energy Credit.

Under the recently enacted One Big Beautiful Bill Act (OBBBA), these two credits will expire on December 31, 2025. Therefore, many energy-related home improvements made in 2026 or later will not qualify for federal tax benefits. A tax professional can help you determine whether any of your planned home improvements qualify for home energy credits, so you can prioritize eligible projects for the remainder of 2025.

08/25/2025

OBBBA Increased 2025 Standard Deduction Amounts

The recently enacted One Big Beautiful Bill Act (OBBBA) increased the standard deductions that people may claim on their 2025 tax returns above the levels previously announced by the IRS. Here are the new standard deduction amounts based on filing status:

Single or Married Filing Separately (MFS): $15,750, an increase of $1,150 from 2024

Head of Household: $23,625, an increase of $1,725 from 2024

Married Filing Jointly (MFJ) or Qualifying Surviving Spouse: $31,500, an increase of $2,300 from 2024

The OBBBA also increased the enhanced deduction available to people of age 65 or older. Watch for further details on that change and other new deductions in the coming weeks.

Hudak & Company

11/10/2025

11/03/2025

10/28/2025

10/21/2025

10/15/2025

10/06/2025

09/29/2025

09/22/2025

09/15/2025

09/08/2025

09/02/2025

08/25/2025

Address

Opening Hours

Telephone

Website

Alerts

Shortcuts

Share

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm