Myer and Myer

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Holding real estate within your operating company may lead to unfavorable tax outcomes and increased risk. For example, ...
04/29/2026

Holding real estate within your operating company may lead to unfavorable tax outcomes and increased risk. For example, office or warehouse space owned by a C corporation is generally subject to double taxation when it’s sold. Or, if a customer is injured on company property, other business assets could be at risk. Separating real estate into its own entity, such as a limited liability company or partnership, can help reduce your exposure and provide greater flexibility for long-term planning. Call us at (570) 296-2889 to review your business structure and determine the best fit for your situation.

The IRS issued interim guidance on the new special depreciation allowance for qualified production property under tax le...
04/23/2026

The IRS issued interim guidance on the new special depreciation allowance for qualified production property under tax legislation signed into law in July of 2025. The guidance defines qualified production property and activities (such as certain manufacturing, chemical production and agricultural production), explains how to determine the allowance, and outlines how and when to elect it. It also addresses depreciation recapture if the property no longer meets the requirements. Eligible taxpayers can deduct up to 100% of the unadjusted basis of qualified production property placed in service after July 4, 2025, and before Jan. 1, 2031. Contact us at (570) 296-2889 if you have questions.

Small business owners: Tax credits can reduce your tax bill dollar for dollar. But using them isn’t always straightforwa...
04/22/2026

Small business owners: Tax credits can reduce your tax bill dollar for dollar. But using them isn’t always straightforward. Many business credits fall under the general business credit (GBC), which limits how much you can claim each year and governs how unused credits are carried back or forward. Missteps can mean lost or delayed tax benefits. We help small businesses identify eligible credits, apply the GBC rules correctly and optimize their tax outcomes over time. Contact us at (570) 296-2889 to see whether you’re making the most of the credits available to you.

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work to...
04/21/2026

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work together to support your goals today and protect your legacy tomorrow. We can help you bring it all together with a coordinated strategy to reduce taxes, build retirement savings and achieve your estate planning objectives. Contact us at (570) 296-2889.

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan...
04/20/2026

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan,” reimbursements are tax-free to employees and deductible for your business. (Remember, meals are generally only 50% deductible.) Without an accountable plan, reimbursements count as taxable wages and trigger income taxes for the employee and payroll taxes for both the employee and your business. Contact us at (570) 296-2889 to help ensure your reimbursement practices comply with the tax rules and minimize unintended tax consequences.

Did you know you can amend your tax return if you need to revise information after you filed it? Amended returns let tax...
04/16/2026

Did you know you can amend your tax return if you need to revise information after you filed it? Amended returns let taxpayers fix errors or omissions — such as income, deductions, credits or filing status — and make certain late elections. They can also be used to address tax law changes, claim losses and credit carrybacks, and more. You can e-file up to three amended returns per tax year. Usually, you have up to three years from the original filing deadline or two years from when you paid the tax, whichever is later, to claim a refund. But the rules can be complex. Contact us at (570) 296-2889 for guidance.

When you’re busy running a business, it’s easy to overlook or dismiss the warning signs of financial distress. Rising em...
04/15/2026

When you’re busy running a business, it’s easy to overlook or dismiss the warning signs of financial distress. Rising employee turnover can signal internal strain. Cash flow issues may indicate slow collections or weak working capital practices. And sudden external shifts — such as interest rate volatility, cost increases or supply chain disruptions — can take a toll on otherwise healthy businesses. Supplementing your company’s year-end financial statements with interim reports or targeted agreed-upon procedures can help you spot problems early and take prompt corrective action. Contact us at (570) 296-2889 to learn more.

Two federal tax breaks can help offset the cost of accessibility improvements. In 2026, qualifying small businesses (wit...
04/14/2026

Two federal tax breaks can help offset the cost of accessibility improvements. In 2026, qualifying small businesses (with $1 million or less in gross receipts or no more than 30 full-time employees in 2025) may claim the Disabled Access Credit. It’s generally worth 50% of eligible accessibility costs (up to a $5,000 maximum). Businesses of any size may also deduct up to $15,000 per year for qualified architectural and transportation barrier removal. You can claim both benefits in the same year, but not for the same expense. New construction isn’t eligible for either break. If you’re planning upgrades, call us at (570) 296-2889 to help you make the most of these incentives.

F**A taxes on W-2 wages are split equally between employee and employer. For self-employment income, you pay both halves...
04/13/2026

F**A taxes on W-2 wages are split equally between employee and employer. For self-employment income, you pay both halves, but the “employer” half is deductible. If you own and work in a business structured as a partnership, the income passing through to you for income tax purposes generally is also subject to self-employment taxes, even if it isn’t distributed to you. If your income exceeds certain levels, you also could be subject to the 0.9% additional Medicare tax. Call us at (570) 296-2889 to review your situation.

You’ll receive a CP24 notice if the IRS reviews your tax return and determines you’re due a refund that differs from wha...
04/09/2026

You’ll receive a CP24 notice if the IRS reviews your tax return and determines you’re due a refund that differs from what you originally claimed. This often happens because the IRS corrected a math error, applied a payment or credit differently, or offset a refund to pay another tax liability. The notice explains what changed and how the refund was calculated. Generally, no response is required if you agree with the adjustment; your adjusted refund will be issued automatically. But if you disagree or don’t understand the change, it’s important to review the notice carefully and respond by the deadline. We can help you determine whether the IRS adjustment is correct and advise on next steps. Call us at (570) 296-2889.

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 e...
04/08/2026

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 employees. For payments made in 2026, businesses generally must issue Form 1099-NEC, “Nonemployee Compensation,” to contractors paid $2,000 or more (up from $600 for 2025). The higher threshold may reduce your administrative burden because you could have fewer forms to file with the IRS. However, it doesn’t change your recordkeeping, worker classification or backup withholding responsibilities. Contact us at (570) 296-2889 to help ensure you’re prepared for the updated reporting requirements.

Imagine if a fraud perpetrator wiped out your 401(k) account balance overnight. Would you still be able to retire? Milli...
04/07/2026

Imagine if a fraud perpetrator wiped out your 401(k) account balance overnight. Would you still be able to retire? Millions of dollars in U.S. retirement plans have been stolen thanks to hackers, identity thieves and social engineers, such as scammers using phishing emails to obtain financial and other personal information. But you can protect your hard-earned savings! Call us (570) 296-2889 for retirement planning help.

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

Website

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