Use “Kiplinger tax topics” as your cue to plan ahead—then translate headlines into action items
If you search “Kiplinger tax topics”, you’ll find timely coverage that highlights what’s changing, what’s confusing, and what could cost you money if you ignore it. The challenge for many small-business owners is turning those updates into a repeatable process—one that protects cash flow, avoids compliance surprises, and supports growth. This guide breaks down the most practical tax “watch items” for 2026 and organizes them into a clean checklist you can reuse throughout the year.
1) Start with the basics: what “tax year” are we talking about?
Many articles (including Kiplinger-style roundups) mention “2026” but don’t always spell out whether that means:
Tax year 2026 = income earned Jan 1–Dec 31, 2026, typically filed in 2027.
Filing season 2026 = filing returns for tax year 2025 (for most individuals and calendar-year businesses).
Filing season 2026 = filing returns for tax year 2025 (for most individuals and calendar-year businesses).
When planning, always label your notes with an exact tax year (“2025 return” vs. “2026 planning”) so you don’t take the right action at the wrong time.
2) Federal inflation adjustments to know for tax year 2026 (planning ahead)
Inflation adjustments can change the math behind your withholding, estimated taxes, and year-end strategies. For tax year 2026, the IRS announced updated brackets and standard deduction amounts. (irs.gov)
| Item (Tax Year 2026) | What to know | Why it matters for small business owners |
|---|---|---|
| Standard deduction | $16,100 (single/MFS), $32,200 (MFJ), $24,150 (HOH). (irs.gov) | Affects personal tax planning (owner compensation, distributions, withholding/estimates). |
| Top marginal rate thresholds | 37% above $640,600 (single) / $768,700 (MFJ). (irs.gov) | Helps evaluate timing of income/bonuses, entity strategy, and deduction acceleration. |
| Bracket “edges” | 22% begins at $50,400 (single), 24% at $105,700 (single). (irs.gov) | Useful for estimating “how much more tax” a new client or project really creates. |
Owner tip: If you’re a pass-through owner (S corp/partnership/sole prop), your “business tax plan” is often your personal tax plan. This is why year-round planning beats a once-a-year filing scramble. If you want proactive guidance, explore tax planning services with JTC CPAs.
3) Business mileage: a simple deduction that gets missed (or documented poorly)
For 2026, the IRS standard mileage rate for business use is 72.5 cents per mile (effective Jan. 1, 2026). (irs.gov)
Good recordkeeping is what turns miles into a defensible deduction: date, destination, business purpose, and mileage. A calendar note alone is rarely enough.
4) Payments apps, marketplaces, and 1099-K: what to track (even if the form doesn’t show up)
This is a recurring “Kiplinger tax topic” because the rules have been shifting and headlines can be confusing. The practical rule is steady: all taxable business income is reportable, whether you get a form or not.
The IRS has issued guidance around Form 1099-K thresholds under recent law changes and transition rules. (irs.gov)
Action you can take: Separate “business receipts” from reimbursements and personal transfers in your bookkeeping. If you mix them in a payment app, you may spend hours proving what was (and wasn’t) business income.
If your books feel messy, JTC can help you get clean, decision-ready numbers with bookkeeping services.
5) Step-by-step: your 2026 small-business tax rhythm (monthly + quarterly)
Monthly (keep it light, keep it consistent)
1) Reconcile bank and credit cards (don’t wait until year-end).
2) Categorize income/expenses and attach receipts for unusual items.
3) Review payroll reports if you have employees or owner payroll.
4) Run a simple P&L and cash flow snapshot.
Quarterly (protect cash flow)
1) Estimate taxable profit and set aside cash for taxes.
2) Check if your withholding/estimated payments still match reality.
3) Confirm contractor records (W-9s, payments, correct vendor names).
4) Update your forecast and adjust pricing or spending early.
If payroll is the recurring stress point (deadlines, filings, clean reporting), consider outsourcing to reduce risk and free up time: payroll processing services.
Quick “Did you know?” tax facts worth bookmarking
Mileage adds up fast: A few client meetings per week can become a meaningful deduction—if you track purpose + miles. (irs.gov)
Tax year 2026 rules typically affect returns filed in 2027—so your best “savings” moves happen during the year, not at filing time. (irs.gov)
Payment platforms can create noise: forms and thresholds change, but your bookkeeping needs consistent separation of business vs. personal activity. (irs.gov)
Local angle: Garden City, SC considerations (state withholding + planning)
Even if your business is small, state-level changes can affect take-home pay, estimated taxes, and cash flow planning.
South Carolina update: The South Carolina Department of Revenue published updated 2026 withholding tables and noted employers should begin using them (and the 2026 SC W-4) on January 1, 2026. (dor.sc.gov)
If you’re a business owner paying yourself wages (common for S corps), or you have employees in South Carolina, it’s smart to check early in the year whether withholding aligns with your expected annual income—especially if your revenue is seasonal or project-based.
If you want a CPA team to help coordinate bookkeeping + payroll + tax planning as one system, start with the Boise-based team at JTC CPAs and ask about a workflow that fits your business: locations and contact options.
Want a proactive tax plan instead of last-minute surprises?
JTC CPAs helps small and mid-sized businesses build a repeatable rhythm for bookkeeping, payroll, forecasting, and tax strategy—so your numbers support growth decisions (not stress).
FAQ: Kiplinger tax topics, explained for business owners
Are “2026 tax changes” about the return I file in 2026?
Not always. Many “2026” announcements refer to tax year 2026 (income earned during 2026), which is typically filed in 2027. That’s why it’s important to label strategies by the tax year they apply to. (irs.gov)
What’s one “easy” deduction I should not ignore?
Business mileage is a common one. For 2026, the standard mileage rate for business is 72.5 cents per mile, but the deduction depends on good documentation (date, business purpose, miles). (irs.gov)
If I don’t receive a 1099 form from a platform, do I still report the income?
Yes. Information returns help reporting, but they don’t define whether income is taxable. Keep your own sales/income records and make sure your bookkeeping distinguishes business receipts from reimbursements and personal transfers. (irs.gov)
I have employees in South Carolina—what should I check at the start of the year?
Confirm your payroll process is using the updated 2026 South Carolina withholding tables starting January 1, 2026, and gather updated SC W-4 forms when employees need changes. (dor.sc.gov)
When does it make sense to bring in a CPA beyond tax filing?
If you’re growing, hiring, paying contractors, considering a new entity structure, or simply tired of weekend bookkeeping, proactive support can pay off. Many owners start with cleaner books, better forecasting, and a year-round tax plan—and then expand into payroll, M&A advisory, or exit planning as needed.
Glossary (plain-English tax terms)
Tax year
The calendar year your income is earned (for most individuals and many businesses). Example: tax year 2026 is Jan 1–Dec 31, 2026.
Standard deduction
A fixed amount you can subtract from income instead of itemizing deductions, reducing taxable income. (irs.gov)
Standard mileage rate
An IRS-set per-mile rate you can use (if eligible) to compute deductible vehicle costs for business travel instead of tracking actual auto expenses. (irs.gov)
Form 1099-K
An information return that may report certain payments processed through payment apps/online marketplaces. Receiving (or not receiving) the form doesn’t change your obligation to report taxable income. (irs.gov)
Need help turning “tax topics” into a system your business can actually follow? Reach out to JTC CPAs for a clear, practical next step.
