DW Hockman Financial Services, LLC

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DW Hockman Financial Services, LLC D.W Hockman Financial Services, LLC is an Accounting Firm in Meridian, Idaho. https://www.dwhfs.com/ Celebrating 30 years of service!

D.W Hockman Financial Services, LLC is an Accounting Firm in Meridian, Idaho offering small to medium business accounting, bookkeeping, payroll, business, individual income tax preparation, tax planning and financial statement services. Our mission statement and goal is to “Minimize your Federal and State Taxes and Maximize your WEALTH.” We know that Taxes and Accounting can be complicated. Let our firm take care of the details for you so you have more time to devote to your business!

October 15 Filing Extension Deadlines—Did You Know?Taxpayers who obtained a valid extension to file their 2025 federal i...
10/12/2026

October 15 Filing Extension Deadlines—Did You Know?

Taxpayers who obtained a valid extension to file their 2025 federal individual income-tax returns must file by Thursday, October 15, 2026. Calendar-year C corporations that requested an extension in a timely manner using Form 7004 generally must also file their 2025 Form 1120 by that date.

Remember that an extension provides additional time to file, not additional time to pay. Federal tax ordinarily remained due by the original April filing deadline, and interest and penalties could apply to unpaid amounts.

U.S. persons required to file a Report of Foreign Bank and Financial Accounts (FBAR) for 2025 usually must file by October 15, 2026. An FBAR may be required when the aggregate value of covered foreign financial accounts exceeded $10,000 at any time during 2025. The FBAR extension is automatic, so no extension request is required.

Idaho individual income-tax filers with valid extensions must also file their 2025 Idaho returns and pay the remaining balance by October 15, 2026. An Idaho extension provides additional time to file, not additional time to pay.

Have questions about an extended federal or Idaho return or an FBAR filing requirement? Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM – 6 PM, Email [email protected], or Visit dwhfs. com .

A stronger year-end starts with thoughtful fall planning.Now is a good time to review your tax strategy, update your boo...
10/08/2026

A stronger year-end starts with thoughtful fall planning.

Now is a good time to review your tax strategy, update your bookkeeping, and ensure your payroll records are current. Preparing today can help you stay organized, reduce tax-time stress, and avoid unnecessary surprises later.

Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM – 6 PM, email [email protected], or visit dwhfs.com.

Up to $5,120 of the 2026 Adoption Tax Credit Is Refundable—Did You Know?The federal Adoption Tax Credit can help eligibl...
10/05/2026

Up to $5,120 of the 2026 Adoption Tax Credit Is Refundable—Did You Know?

The federal Adoption Tax Credit can help eligible taxpayers with qualified expenses for adopting a child who is under age 18 or physically or mentally incapable of self-care. Qualified expenses may include adoption fees, attorney fees, court costs, home studies, and adoption-related travel.

For tax year 2026, the federal credit is limited to $17,670 per eligible child, and up to $5,120 of the allowable credit may be refundable. This means eligible taxpayers can receive the refundable portion even when they owe no federal income tax.

The federal credit is subject to modified adjusted gross income limits, filing-status requirements, adoption-timing rules, and other restrictions. You may carry forward an unused nonrefundable portion for up to five years, but the carryforward amount cannot become refundable in a later year.

Idaho provides a separate deduction rather than a matching state credit. Under current Idaho law, adoptive parents may deduct up to $10,000 per adoption in qualifying legal and medical expenses or the actual qualifying expenses if less. Expenses incurred over multiple years must be deducted in the year paid until the limit is reached. Travel expenses and expenses from an unsuccessful adoption attempt do not qualify.

Taxpayers may qualify for both federal and Idaho benefits, but the qualifying expenses and calculations are not identical. Taxpayers calculate the federal credit using Form 8839, while the Idaho deduction is claimed as a subtraction on the applicable Idaho supplemental schedule.

Have questions about federal or Idaho tax benefits for adoption expenses? Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM – 6 PM, email [email protected], or visit dwhfs.com.

How the Enhanced 2026 Care Credit Rate Works—Did You Know? (2/2)The percentage used to calculate the federal Child and D...
09/30/2026

How the Enhanced 2026 Care Credit Rate Works—Did You Know? (2/2)

The percentage used to calculate the federal Child and Dependent Care Tax Credit depends on adjusted gross income.

For tax year 2026, the rate begins at 50 percent for eligible taxpayers with adjusted gross income of $15,000 or less. Above $15,000, the rate decreases by one percentage point for each $2,000, or fraction thereof, of additional income until it reaches 35 percent.

The 35 percent rate continues until adjusted gross income exceeds $75,000 for most eligible filing statuses or $150,000 for married couples filing jointly. Above those amounts, the rate decreases further but cannot fall below 20 percent.

For example, an eligible married couple filing jointly with an adjusted gross income from $75,000 through $150,000 uses a 35 percent rate, compared with 20 percent under the 2025 rules. The actual credit also depends on qualifying expenses and the other federal eligibility requirements discussed in Part 1.

Do you have questions about which percentage may apply to your household? Call DWHFS at (208) 938-0701 Mon—Fri, 9 AM—6 PM, email [email protected], or visit dwhfs. com

Enhanced Tax Credit Can Help Cover 2026 Care Costs–Did You Know? (1/2)You may qualify for the federal Child and Dependen...
09/24/2026

Enhanced Tax Credit Can Help Cover 2026 Care Costs–Did You Know? (1/2)

You may qualify for the federal Child and Dependent Care Tax Credit (CDCTC) if you pay for care so you, and your spouse if filing a joint return, can work or look for work. A qualifying person may be a dependent child under age 13 when the care is provided, or your spouse or qualifying dependent who is physically or mentally incapable of self-care and lives with you for more than half the year.

You may use up to $3,000 of eligible expenses to calculate the credit for one qualifying person or up to $6,000 for two or more qualifying people. For tax year 2026, the maximum credit rate is 50 percent. The percentage decreases as adjusted gross income rises but cannot fall below 20 percent.

You and your spouse, if filing jointly, generally must have earned income. Special rules may apply when either spouse is a full-time student or incapable of self-care. The credit generally is unavailable to married taxpayers filing separately, although an exception may apply to taxpayers who lived apart from their spouse during the last six months of the year and meet the requirements.

To claim the credit, identify the qualifying person and care provider on Form 2441. You must provide the provider’s name, address, and Social Security number or Employer Identification Number. Restrictions apply to who may provide the care.

Idaho law allows a deduction for household and dependent-care expenses, up to $12,000 per year. This Idaho benefit reduces taxable income and is not a matching state tax credit.

Have questions about care expenses or the Child and Dependent Care Tax Credit? Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM–6 PM, email [email protected], or visit dwhfs. com.

Tax Rules for Scholarships, Grants, and Fellowships–Did You Know?Scholarships, grants, and fellowships may be tax-free w...
09/24/2026

Tax Rules for Scholarships, Grants, and Fellowships–Did You Know?

Scholarships, grants, and fellowships may be tax-free when received by a degree candidate at an eligible educational institution and used for required tuition, enrollment fees, books, supplies, or course equipment.

Funds used for room and board, travel, optional equipment, or other non-qualified expenses are generally taxable. Payments for required teaching, research, or other services are also generally taxable, with limited exceptions.

An award may be tax-free and partly taxable. Be sure to review the award terms, and keep records showing the amounts received and how the funds were used.
Idaho follows the federal treatment, so amounts taxable on your federal return are taxable on your Idaho return.

Have questions about the tax treatment of scholarships, grants, or fellowships? Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM–6 PM, email [email protected], or visit dwhfs. com.

Remembering the lives lost, and how our country changed in the wake of 9/11. Never Forget.—DWHFS Team Photo Source: Cit...
09/11/2026

Remembering the lives lost, and how our country changed in the wake of 9/11. Never Forget.—DWHFS Team

Photo Source: CityLab Daily: The Legacy of the Twin Towers - Bloomberg

Quarterly Estimated Tax Payment: ReminderIf you make federal estimated tax payments, the third 2026 installment (June 1s...
09/08/2026

Quarterly Estimated Tax Payment: Reminder

If you make federal estimated tax payments, the third 2026 installment (June 1st–August 31st, 2026 period) is due next Tuesday, September 15, 2026.

Individual taxpayers using IRS Direct Pay can submit a payment until 11:45 p.m. Eastern Time on the due date. Debit-card, credit-card, and digital-wallet payments are also available through IRS-listed third-party processors, but additional fees apply.

Idaho note: Idaho does not require individuals to make estimated income tax payments, although taxpayers may pay toward an expected Idaho tax balance through Quick Pay or Taxpayer Access Point (Idaho TAP).

Have questions about tax payments or how much you may need to pay? Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM—6 PM, email [email protected], or visit dwhfs. com.

Happy Labor Day! Today, we recognize the hard work and dedication of every worker in Idaho! We hope you enjoy a safe an...
09/07/2026

Happy Labor Day! Today, we recognize the hard work and dedication of every worker in Idaho! We hope you enjoy a safe and relaxing holiday. See you tomorrow! - The DWHFS Team

Image: “Labor Day Digital Painting” by Linnaea Mallette, CC0 Public Domain.

Educator Classroom Expense Deduction—Did You Know? Eligible K–12 teachers, instructors, counselors, principals, and aide...
09/01/2026

Educator Classroom Expense Deduction—Did You Know?

Eligible K–12 teachers, instructors, counselors, principals, and aides who work at least 900 hours during the school year at a qualifying elementary or secondary school may deduct up to $350 of qualifying nonreimbursable expenses for 2026. Married couples filing jointly who are both eligible educators may deduct up to $350 each, for a combined maximum of $700.

Qualifying expenses may include books, classroom supplies, computer equipment, related software and services, supplementary materials, and certain professional-development courses related to the curriculum or students you teach. You do not need to itemize deductions to claim this deduction, but you should keep receipts and other records showing what you purchased and any reimbursements you received.

Idaho generally follows the federal treatment of this deduction. It is not a separate Idaho Tax Credit.

Have questions about the Educator Expense Deduction? Call DWHFS at (208) 938-0701 Mon–Fri, 9 AM – 6 PM, email [email protected], or visit dwhfs .com.

Address

3142 W Belltower
Meridian, ID
83646

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm

Telephone

+12089380701

Website

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