Thomas Wells Co.

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10/27/2026

📊 YOUR BOOKS IN FIVE CATEGORIES

Have you ever looked at last month’s spending and wondered where the money went?

You don’t need 40 expense categories to get started. For many service businesses, five clear groups create a practical bookkeeping system:

Money in — customer payments

Cost of the work — materials, products, and subcontractors

People — wages, payroll costs, and regular contractors

Place and vehicle — rent, utilities, mileage, and related costs

Everything else — software, phone, supplies, bank fees, and professional fees

The goal is a system you can keep using. If an expense could fit in two places, choose one and categorize it consistently.

Try sorting last month’s spending into these five groups. What category would help you understand your business better?

👉 The Tax Ready Workbook — 116 fillable pages, $47
🔗 stan.store/Thomaswellsco
▶️ youtube.com/

10/26/2026

Receipts aren’t useful just because you kept them. You need to be able to find them—and show what they were for.

For each business expense, keep a clear record of:
• What you bought
• When and how much you paid
• Who you paid
• Why it was for your business

Add a short business-purpose note while you still remember the details. Store records somewhere reliable, back them up, and make sure you can retrieve them when needed.

Three years is a common retention period, but it isn’t universal. Some records—such as documents related to equipment—may need to be kept longer.

What’s your current system: a receipts folder, an app, or a shoebox?

The Tax Ready Workbook — 116 fillable pages, $47
🔗 stan.store/Thomaswellsco
▶️ youtube.com/

10/25/2026

🚗 MILEAGE: THE DEDUCTION MOST PEOPLE LOSE

If you drove for your business this year, could you show the date, destination, business purpose, and miles for each trip? Your mileage log is the evidence behind the deduction.

2026 has two business mileage rates:
• 72.5¢ per mile, Jan 1–June 30
• 76¢ per mile, July 1–Dec 31

Keep the periods separate. For example, 4,000 eligible business miles in the first half at 72.5¢ equals $2,900; 3,000 in the second half at 76¢ equals $2,280—a total of $5,180.

Start today: log the date, destination, business purpose, and miles for each eligible business trip. Keep commuting and personal miles separate. If your log is incomplete, don’t invent trips—ask your tax professional what you can support.

What’s your mileage-tracking system?

👉 Tax Deductions Tracker PRO — $97
🔗 stan.store/Thomaswellsco
▶️ youtube.com/

10/24/2026

“Can I deduct this?” The honest answer is often: partly.

A business expense generally needs to be ordinary and necessary for your work. Ordinary means common in your line of business. Necessary means helpful and appropriate for it; it does not have to be unavoidable.

Before you claim a purchase, ask:
1. Is it common for the kind of work I do?
2. How does it help my business?
3. Can I show what I bought, when I bought it, and the business purpose?
For mixed-use items—like a phone, vehicle, or laptop—identify and document the business portion. A purchase doesn’t become a business expense just because you used a business card.

The Tax Deductions Tracker PRO is available for $97: https://stan.store/Thomaswellsco

Subscribe to Thomas Wells Co. on YouTube for more resources and education: https://youtube.com/

10/23/2026

Do business deposits and personal purchases come out of the same account? When they’re mixed together, every transaction takes extra sorting before you can see how the business is doing.

✅ One practical step: give business money its own account.

✅ Open a separate business checking account.

✅ Route customer deposits into it.

✅ Pay business expenses from it.

✅ Transfer money to yourself on a set schedule.

A clearer account setup makes bookkeeping easier to follow. Start this week: which step will you tackle first?

The Tax Ready Workbook has 116 fillable pages and is $47: https://stan.store/Thomaswellsco

YouTube resources and education: https://youtube.com/

10/22/2026

Have you ever searched through a drawer, envelope, or glove box for a business receipt you needed?

You’re not alone. The first step doesn’t have to be sorting every receipt you’ve collected. Start with the new ones:

✅ Pick one place to keep them.
✅ Add each new receipt the day you get it.
✅ Write down the business reason.
✅ Total them at the end of the month.

The old pile can wait while you build a routine that works going forward. Progress over perfection.

The Tax Deductions Tracker PRO is available at https://stan.store/Thomaswellsco
Visit https://youtube.com/ for more tax and bookkeeping resources.

What’s your go-to receipt system?

09/09/2026

📣 Stop guessing where your business money went.

The Thomas Wells Bookkeeping Bundle Pro is designed to help small-business owners organize their clients, income, expenses, deductions, and financial reports—all in one practical system.

Inside the bundle:

✅ CRM Workbook — 15 tabs
✅ Bookkeeping Workbook — 8 tabs
✅ Tax Deduction Workbook — 4 tabs
✅ Profit & Loss Workbook — 2 tabs
✅ Income & Expense Workbook — 2 tabs
✅ Bonus completed example tab in every workbook

That’s 5 workbooks and 31 tabs created to help you understand your numbers, prepare for tax season, and manage your business with confidence.

Systems create freedom. Start building yours today.

🛒 Get the Bookkeeping Bundle Pro here:
https://stan.store/Thomaswellsco

📺 Subscribe on YouTube for bookkeeping, tax, and business tips:
https://www.youtube.com/

Clarity. Strategy. Systems. Growth.

09/04/2026

Day 3 of 122 | Daily Dose of Tax Tips

Age 65 or older? There’s a new deduction for 2026 you need to know about.

Eligible taxpayers age 65 and older may qualify for an additional senior deduction of up to $6,000 per person.

For a married couple where both spouses qualify, that could mean up to $12,000.

But here’s the important part:

The new senior deduction is separate from the existing additional standard deduction for taxpayers age 65 or older.

That means qualifying taxpayers may be able to benefit from both.

Tax preparers: Don’t simply see “65+” and move on. Verify eligibility, understand how the deductions work together, and make sure you’re capturing every deduction your client qualifies for.

Taxpayers: If you or your spouse are 65 or older, this is one of the 2026 changes you’ll want to ask about when preparing your return.

Tomorrow for Day 4: There’s a $25 number in the 2026 Head of Household tax brackets that some published charts have wrong. We’re breaking it down.

One topic. Every day. Through December 31.

Watch the full Daily Dose of Tax Tips series and subscribe to Thomas Wells Co. on YouTube.

https://www.youtube.com/

Learn the rules. Prepare with confidence. Succeed with a system.

05/01/2026

April showed up and told you the truth about your tax bill. 👀

You worked the whole year.

You closed deals, deposited commissions, built your pipeline — and tax season walked in and reminded you that being a 1099 earner has a cost most brokers never explain.

If you closed $500K in commissions last year, your tax liability could be anywhere from $120,000 to $175,000 — depending on your structure and deductions. Most agents find out in April. That is too late.

The move isn't panic. The move is a plan. Your money deserves a strategy.

DM me the word PLAN and let's change what next April looks like.

Address

4717 Hondo Pass Drive
El Paso, TX
79904

Telephone

+19159551280

Website

https://tr.ee/FPf73s

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