Walling’s Accounting & Tax Service

03/02/2026

ON THIS EDITION OF "NEWS YOU CAN USE"

ESTATE TAX EXCLUSION INCREASED TO $15 MILLION.

ANNUAL GIFT EXCLUSION IS $19,000 PER RECIPIENT PER YEAR.

02/22/2026

NEWS YOU CAN USE................

STATE INCOME TAX REFUNDS!

2025 return processing is taking longer than usual because South Carolina currently does not conform to the federal One Big Beautiful Bill Act (OBBBA).

You can log in to your MyDORWAY account to check your return status.

If you do not have a MyDORWAY account, you can go to www.dor.sc.gov/refund. You will need your social security number and the amount of your refund. Once you are online, click on "Where's My Refund," input the requested information, and press "Search."

Need help? Call: 1-844-898-8542

02/11/2026

On this edition of "News You Can Use....."

Tax Law Change for 2026 (no, not for the 25 returns you are filing now):

Non-itemizers can now deduct up to $1,000 (single or $2,000 married filing jointly) in charitable contributions, even if you don't itemize! PLEASE NOTE: THIS DOES NOT INCLUDE NON-CASH CONTRIBUTIONS! So get those receipts for your donations!

02/03/2026

MORE NEWS YOU CAN USE:

Old rule: You had to issue a 1099-NEC or 1099-MISC if you paid a non-employee $600 or more in a year. New under HR-1/OBBBA: These thresholds will increase from $600 to $2,000, starting with payments made after December 31, 2025 (i.e., tax year 2026)

01/18/2026

NEWS YOU CAN USE:

To help avoid identity theft, consider freezing your credit with the 3 major credit bureaus:
Equifax
Experion
TransUnion

It's easy to do and only takes a few minutes. And it's FREE!

12/30/2025

Standard Mileage Rates 01.01.26

Business Rate $.725 per mile
Charitable Rate $.14 per mile
Medical & Moving Rate $.205 per mile

06/10/2025

2nd quarter individual income tax payments are due June 16th!

04/07/2025

Walling's Accounting - Upcoming Deadlines:

Monthly payroll tax deposits 4/15
Monthly sales tax returns 4/21
Quarterly sales tax returns 4/21
Some business licenses 4/30
Quarterly payroll tax reports 5/1
PT 100s 5/1
Individual, partnership, s-corporation tax returns 5/1
1st quarterly estimated income tax payment 5/1

04/02/2025

I have been keeping a secret and it’s not a joke:

SC residents we have until May 1, 2025 to file and pay our taxes! This includes estimated income tax payments.

01/30/2025

ATTENTION: WALLING'S ACCOUNTING CLIENTS!

Every year, 1099 Forms are due January 31st. However, every year I feel like I have to beg for information. Please keep up with this task during the year to make January an easier month for all of us! Staying compliant during the year makes things so much better! Get those W-9s from vendors who provide a service for your company! Update in Quickbooks also!

01/30/2025

ATTENTION CLIENTS:

Income tax organizers are being mailed today!

01/10/2025

Jason Walling

FIRST ALERT// Very slick around I-26 and I-95… bottom line… expect icy roads into the late afternoon across interior SC away from the coast. Winter Weather Advisory continues until 4 pm for inland Colleton, Dorchester and Berkeley counties. tracking. 📸: Jeff Greaves