Myer and Myer

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The IRS has launched a new “Report Fraud” webpage to simplify confidential reporting of suspected tax fraud or scams. It...
04/02/2026

The IRS has launched a new “Report Fraud” webpage to simplify confidential reporting of suspected tax fraud or scams. It consolidates multiple IRS fraud-reporting options into a single location, allowing taxpayers to report suspected scams, tax evasion or other tax-related misconduct in one place. This is the initial phase; the IRS plans to further streamline fraud reporting by reducing the number of forms, automating processes and adopting modern case‑management tools. We’re here if you have questions. Call us at (570) 296-2889.

If you have unfiled tax returns, getting back on track may be easier than you think. But the longer you wait, the more c...
04/01/2026

If you have unfiled tax returns, getting back on track may be easier than you think. But the longer you wait, the more costly it becomes. The IRS charges a failure-to-file penalty of 5% per month (up to 25%) of the unpaid tax. There’s also a separate failure-to-pay penalty of 0.5% per month (up to 25%) of the unpaid tax. If both apply in the same month, the combined penalty is generally 5% per month. Returns over 60 days late are subject to a minimum penalty. Filing, even if you can’t pay in full, can reduce penalties and open the door to payment plans or other relief options. Call us at (570) 296-2889 for help.

Have you considered an employee stock ownership plan (ESOP) for your business? An ESOP is a form of qualified retirement...
03/31/2026

Have you considered an employee stock ownership plan (ESOP) for your business? An ESOP is a form of qualified retirement plan. More specifically, it’s a profit-sharing plan that allows employees to own shares of their employer’s company and cash in those shares when they retire or otherwise leave their jobs. Many small to midsize businesses have implemented ESOPs because of their exciting advantages. But ESOPs do present some hurdles to clear. Please contact us at (570) 296-2889 to learn more about whether an ESOP might be right for you.

As the 2025 filing season gets underway, it’s a smart time to also look to the future. Major tax law changes take effect...
03/30/2026

As the 2025 filing season gets underway, it’s a smart time to also look to the future. Major tax law changes take effect in 2026, and proactive planning now can help you avoid surprises later. While we’re preparing your current return, let’s also review your broader tax picture and identify opportunities that may benefit you in the year ahead. Have questions or want to schedule a planning session? Call us at (570) 296-2889.

Choosing the head of household (HOH) tax filing status may reduce your 2025 tax bill. HOH status offers a higher standar...
03/27/2026

Choosing the head of household (HOH) tax filing status may reduce your 2025 tax bill. HOH status offers a higher standard deduction, and in some cases, more favorable tax brackets than if you were to file as single. To qualify, you must have been unmarried (or considered unmarried) on Dec. 31, 2025; have paid more than half the cost of maintaining your home; and have had a qualifying dependent living with you for more than half the year. If you’re living with the other parent of your child but not married, only one of you can claim HOH status. The rules for HOH status can be complex, especially for divorced or separated parents. We can help you determine if you qualify. Contact us at (570) 296-2889.

A standard IRA makes an excellent retirement savings tool, so long as you’re satisfied with plain vanilla investments su...
03/25/2026

A standard IRA makes an excellent retirement savings tool, so long as you’re satisfied with plain vanilla investments such as stocks, bonds and mutual funds. If your tastes run spicier, you might want to consider opening a self-directed traditional or Roth IRA. These vehicles offer similar tax benefits but also accept investments in closely held business interests, commodities, precious metals and real estate. Contact us at (570) 296-2889 to learn more about the advantages (and a few risks) associated with self-directed IRAs.

Your financials reveal where your business has been … and where it can go next. We can read the numbers and translate th...
03/24/2026

Your financials reveal where your business has been … and where it can go next. We can read the numbers and translate them into clear insights, helping you solve challenges, identify opportunities and plot out happy endings to your strategic objectives. Call us today at (570) 296-2889 to schedule a consultation.

If you own a business, you can leverage your annual gift tax exclusions ($19,000 per recipient for 2026) and your lifeti...
03/23/2026

If you own a business, you can leverage your annual gift tax exclusions ($19,000 per recipient for 2026) and your lifetime gift and estate tax exemption ($15 million for 2026) by gifting ownership interests. These interests may be eligible for valuation discounts for lack of control and marketability. Another way to benefit from valuation discounts is to set up a family limited partnership (FLP). You fund the FLP with assets such as public or private stock and real estate, and then gift limited partnership interests. Contact us at (570) 296-2889 for additional details.

If you’re thinking about starting a business, make sure you understand your federal tax responsibilities before opening ...
03/20/2026

If you’re thinking about starting a business, make sure you understand your federal tax responsibilities before opening your doors. IRS Publication 583, Starting a Business and Keeping Records, covers the basics. Your business structure (such as a sole proprietorship, partnership, limited liability company or corporation) determines which forms you must file and which taxes apply, including income, self-employment, employment and excise taxes. You may also need an Employer Identification Number for tax purposes, and you should be aware of your recordkeeping requirements. Starting a business is exciting, and getting the tax details right is important. We’re here to help. Call us at (570) 296-2889.

Psst! Want to save more for retirement? If your employer offers one, use your Health Savings Account (HSA). You might al...
03/18/2026

Psst! Want to save more for retirement? If your employer offers one, use your Health Savings Account (HSA). You might already contribute pretax earnings and use the balance for out-of-pocket medical expenses. But because HSA balances carry over year to year and can grow indefinitely tax-deferred, these accounts also work as retirement savings tools. After age 65, you can use penalty-free distributions for nonmedical expenses, but they’ll be taxable. So if you’ve maximized contributions to a 401(k) and IRA, HSAs offer another opportunity. Contact us at (570) 296-2889 to discuss retirement savings strategies.

Business owners: 100% bonus depreciation is back. It had been scheduled to drop to 40% for 2025 and 20% for 2026 and to ...
03/17/2026

Business owners: 100% bonus depreciation is back. It had been scheduled to drop to 40% for 2025 and 20% for 2026 and to disappear for 2027. Also, the Sec. 179 expensing limit has doubled for 2025 and is indexed for inflation going forward. Eligible assets for both breaks generally include machinery, equipment, computers, furniture and certain qualified improvements to nonresidential real estate. These tax law changes could make a meaningful difference on your 2025 return and in your 2026 planning. Contact us at (570) 296-2889 to learn more.

Attention, small business owners: As you wrap up your 2025 tax filings and begin planning for 2026, remember that many p...
03/16/2026

Attention, small business owners: As you wrap up your 2025 tax filings and begin planning for 2026, remember that many previously temporary tax law provisions are now permanent. And new opportunities may be available to help reduce your tax burden. If you’re ready to take a smart, strategic approach to the year ahead, we’re here to guide you. Contact us at (570) 296-2889.

Address

102 Wheatfield Drive Ste A
Milford, PA
18337

Opening Hours

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

Telephone

+1 570-296-2889

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