Stortz & Associates

10/13/2026

Tax Tip Tuesday: The Saver's Match

Starting in 2027, the Saver’s Match will take effect for people with lower incomes. This provides matching contributions for eligible amounts you contribute to retirement plans.

To qualify, you must be a U.S. resident over the age of 18, and not a full-time student or a dependent of another taxpayer. If you file your taxes jointly with your spouse, each of you can receive the match for your own contributions. You can contribute to an IRA, Roth IRA, 401(k), 403(b), or governmental 457(b) plan for the Saver’s Match.

Depending on your income, you can receive up to $1,000 in matching contributions. The match takes effect on up to $2,000 of your contributions, with a maximum rate of 50%.

For the full 50% match, your income must fall below:
• $20,500, as a single taxpayer.
• $41,000, as a married taxpayer filing jointly.

The match phases out at incomes above these. You can receive it at lower rates if your income falls below:
• $35,500 as a single taxpayer.
• $71,000 as a married taxpayer filing jointly.

After 2027, these income ranges may change with inflation.

The Saver’s Match begins with contributions you make next year. You would then claim it on your 2027 tax return to receive the matching contributions. The funds will go into the same accounts as your original contributions. Make sure you keep records of your contributions to help you claim the match.

The IRS may send you a letter if they believe you qualify for the match. You don’t need to respond to the letter, but you can plan for the Saver’s Match by considering how you contribute to your retirement accounts. You may want to contribute more to maximize the amount of matching contributions you qualify for. Note that you may incur extra taxes if you withdraw money from these accounts before age 59 ½.

If you have any more questions about the Saver’s Match or contributing to your retirement accounts, feel free to contact us at Stortz & Associates. We’ll be happy to help.

Sources: IRS Notice CP321J, https://www.irs.gov/credits-deductions/savers-match

(Please be aware that this post is for informational purposes only and should not be considered tax advice. Anything contained in the body of this post was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Contact our office for specific questions regarding this or any other tax-related concerns.)

10/06/2026

Check out Stortz & Associates' newsletter! We have new tax and financial articles at https://dstortz.com/news/.

09/04/2026

Happy Labor Day from the Stortz Team! Please be aware that our office will be closed Monday, September 7th in observance of the holiday.

09/02/2026

Read our September newsletter! New tax and financial articles are available on our website at https://dstortz.com/news/.

08/25/2026

Tax Tip Tuesday: Watch for Charitable Contribution Scams

Scams often target charitable giving. They may try to take advantage of people’s kindness or promote reporting inaccurate tax information. Learning the characteristics of these common scams can help you donate safely.

Often, scammers will pose as a charity to collect money or information. They may even use a real disaster or tragedy and claim to support its victims. You should research any charity you want to donate to before you give. You can verify the charity through the IRS’s Tax Exempt Organization Search tool at https://www.irs.gov/charities-non-profits/search-for-tax-exempt-organizations. This will tell you whether the organization qualifies to receive tax-deductible donations. You may not deduct donations made to individuals, or to organizations that do not qualify.

You should always keep sufficient records to support donations you make. This will help you claim tax deductions on them as well as organize your own records.

Some scams might encourage you to report inaccurate information about your donations. They may promise a large tax deduction if you acquire an overestimated appraisal of property you donate. Despite what these scams claim, you should never overstate the value of your donations. If you donate property, keeping accurate records of your donation and the item’s fair market value will ensure you can claim the deduction you qualify for.

Staying aware of charitable contribution scams can help you protect your money and your personal information. Make sure you donate to legitimate charities and check how your giving fits into your tax planning. Always keep thorough records of your donations and don’t claim more than you donated.

If you have any questions about charitable contribution scams, feel free to contact us at Stortz & Associates. We’ll be happy to help.

Sources: IRS Tax Tip 2026-58, 2026-57

(Please be aware that this post is for informational purposes only and should not be considered tax advice. Anything contained in the body of this post was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Contact our office for specific questions regarding this or any other tax-related concerns.)

08/18/2026

Tax Tip Tuesday: Keeping Track of Charitable Donations

When you donate to charity, you should keep records of your donation. This can help you claim a tax deduction on it. Charitable donations have some specific rules that affect the kinds of records you should keep on them.

You can only deduct donations made to a qualified charity. The IRS provides a Tax Exempt Organization Search at https://www.irs.gov/charities-non-profits/search-for-tax-exempt-organizations that you can use to find charities that qualify.

If you donate in cash, or an equivalent format like a check, you should keep a record from the charity or your bank. This should show the name of the charity, the date of your donation, and the amount you donated.

For donations of physical items, you have a few more requirements. You should have a description of the item and a record of its fair market value. Larger donations may require an appraisal of the item or a Form 8283 (Noncash Charitable Contributions). Some specific items, like automobiles or business inventory, have additional requirements.

Any donations valued $250 or higher require a written acknowledgement from the charity for you to claim the deduction. The acknowledgment should state the amount of your donation, if in cash, or a description, if you donated a physical item. It should also note any goods or services you received in exchange. The acknowledgement should provide a description of the goods or services and note their estimated value.

If you want to deduct charitable donations, you usually need to itemize deductions on your tax return. Starting with 2026, though, you may claim a charitable deduction even if you take the standard deduction instead. In this case, you can deduct up to $1,000 in charitable donations, or $2,000 if you file your taxes jointly with your spouse. You may only claim this deduction on donations in cash, not physical goods.

Cash donations can take the form of:
• Paper bills and coins
• Checks
• Payments made with debit or credit cards
• Payments made by EFT (electronic funds transfer) or ACH
• Payment apps like Venmo or PayPal
• Payroll deductions

If you have any questions about recording your charitable donations, feel free to contact us at Stortz & Associates. We’ll be happy to help.

Sources: IRS Tax Tip 2026-57, irs.gov

(Please be aware that this post is for informational purposes only and should not be considered tax advice. Anything contained in the body of this post was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Contact our office for specific questions regarding this or any other tax-related concerns.)

08/11/2026

Tax Tip Tuesday: Life Changes and Taxes

Reaching a new milestone in life can also affect your taxes. Whether you’re getting married or having a child, you should check in on your tax situation when you experience a significant life change. You might need to adjust the tax you withhold, claim credits and deductions differently, or change your address, depending on your specific situation.

Marriage

When you get married, you can choose to file your taxes jointly with your spouse, or to file them separately. Your choice of filing status can affect how much tax you owe. Make sure you know which filing status you want to use.

With the additional income from your spouse, your tax bracket may also change. If so, you might want to adjust how much tax you have withheld from your paycheck. You can submit a new Form W-4 to your employer if you’d like to change your withholding.

You may also want to check the credits and deductions you plan to claim, as marriage can affect how you qualify for these.

If your marriage brings with it a name change, remember to report it to the Social Security Administration. If you move to a new address, report this to the Postal Service, your employer, and the IRS.

Birth and Adoption

When you welcome a new child, you should check the credits and deductions you can claim. You may qualify for the Child Tax Credit, Adoption Credit, or the Child and Dependent Care Credit. You and your child must both have Social Security numbers to claim these credits.

Divorce

After a divorce, your filing status will change from married filing jointly or married filing separately to filing as a single taxpayer. Since your marital status can affect the credits and deductions you qualify for, you may want to check the ones you usually take. If you and your spouse have dependent children, you should determine who will claim them on their tax return.

A divorce may change the amount of income you report, so you should check your tax withholding. You can submit a Form W-4 to your employer if you need to change the amount withheld from your paycheck.

Death of a Loved One

When a loved one passes away, you may find yourself responsible for filing their final tax return. You’ll need to report how much income they earned that year, up until their death. You should also find out which credits or deductions they may qualify for.

If your spouse passes away, this will change how you file your tax return in the future. Your filing status would change from married filing jointly or married filing separately to filing as a single taxpayer. The change in income may require you to adjust the tax withheld from your paycheck, and the credits or deductions you claim may change.

No matter what stage of life you find yourself in, you should understand how this affects your tax situation. If you’ve had a major life change and have questions about your taxes, feel free to contact us at Stortz & Associates. We’ll be happy to help.

Sources: IRS Tax Tip 2026-55, 2026-54

(Please be aware that this post is for informational purposes only and should not be considered tax advice. Anything contained in the body of this post was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Contact our office for specific questions regarding this or any other tax-related concerns.)

08/04/2026

Stortz & Associates' August newsletter is here! Browse the new tax and financial articles at https://dstortz.com/news/.

07/28/2026

Tax Tip Tuesday: Standard Mileage Rates Increased

You can deduct some of the expenses of using an automobile, for reasons like business or medical use. To make it easier to calculate this deduction, the IRS offers standard mileage rates. You can use the standard rates instead of keeping track of the actual expenses you’ve incurred. Just multiply the miles you’ve driven by the applicable rate to get your deduction amount.

The IRS typically updates the mileage rates annually, before the beginning of the year. Sometimes, if significant cost changes have occurred, they’ll update the rates midyear. This year, the IRS has increased the mileage rates as of July 1st, 2026.

The following rates apply for miles driven in July or later:

• For business purposes, 76 cents / mile, up from 72.5 cents
• For medical purposes, 23.5 cents / mile, up from 20.5 cents
• For moving purposes, 23.5 cents / mile, up from 20.5 cents
• For charitable purposes, 14 cents / mile. This rate remains the same, as the charitable rate doesn’t change based on costs.

For miles driven before July, you would still use the previous versions of the rates. Remember to keep records of the miles you’ve driven to support the amount you deduct.

The regular restrictions on the deduction still apply. For instance, typically only members of the military may deduct moving expenses.

You may always opt to calculate the actual expenses of operating the car, rather than using the standard rates.

If you have questions about deducting your vehicle use, feel free to contact us at Stortz & Associates. We’ll be happy to help.

Sources: CeriFi CPEdge, IRS IRB 2026-29, IRS Topic no. 510, https://www.irs.gov/tax-professionals/standard-mileage-rates

(Please be aware that this post is for informational purposes only and should not be considered tax advice. Anything contained in the body of this post was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Contact our office for specific questions regarding this or any other tax-related concerns.)

07/16/2026

Stortz & Associates is proud to be participating in PCFLV's Back-to-School Supply Donation Drive! Please consider supporting them with a donation to help local families in need. ✏🎒

Our annual Back-To-School Bash is just about a month away, and we need your help!

We're collecting donations to fill backpacks for our cancer warriors who are in treatment, have recently finished treatment, their siblings, and our bereaved siblings.

Each child receives a brand new backpack full of age-appropriate supplies helping to ease the burden for our families as they prepare for back-to-school. Every bit counts and makes a big difference! 💛

Simple ways to donate:

1. Purchase an item directly from our Amazon wishlist: https://www.amazon.com/hz/wishlist/ls/3MNFYDGPNH4PG?ref_=wl_share

2. Check out our SignUpGenius list and register for the items you would like to purchase at your local store: https://www.signupgenius.com/go/70A0E4FAFAA29A0FE3-57454088-back #/

Donations can be mailed or dropped off to the PCFLV office at 4501 Crackersport Rd., Allentown, PA 18104. Please contact [email protected] to arrange a time.

ALL DONATIONS ARE NEEDED BY JULY 27th!

Thank you for your continued support of our mission and for bringing smiles to local kiddos and their families. 🙏😊