Accounting & Financial Management LLC

Accounting & Financial Management LLC Accounting - Tax Advisory - Financial Services

Partner - Chapman Insurance Agency

06/03/2026

ATTENTION BUSINESS OWNERS: It’s the end of the second quarter. Are your books in good order to meet the Federal and State estimated tax payment deadline on June 15, 2026? Don’t get penalized and pay interest due to a late payment - we can help! Don’t go another quarter overpaying on your taxes. WE FIND ALL INDUSTRY SPECIFIC DEDUCTIONS TO REDUCE YOUR TAX LIABILITY. Call our office at 724-833-8333 to setup a meeting with one of our tax advisors. Our offices are located in SouthPointe, Waynesburg and Morgantown to better serve you.

05/22/2026

💼 10 Types of Income the IRS May Not Tax (2026 Guide)

Not all money you receive is subject to federal income tax. Understanding these categories can help you plan smarter and keep more of your earnings.
Key income types to be aware of:

• 🎁 Gifts – Up to $19,000 per recipient annually – Married couples: up to $38,000 combined

• 🏛️ Inheritances – No federal income tax – Estate tax typically applies only above $15M ($30M married)

• 🛡️ Life Insurance Proceeds – Death benefits are generally income-tax-free

• 📈 Roth Distributions – Tax-free withdrawals if meeting the 5-year rule and age 59½

• 👨‍👩‍👧 Child Support – Payments are not taxable to the recipient

• 🏡 Home Sale Gains – Up to $250K (single) / $500K (married) excluded – Must meet ownership and use requirements (2 of last 5 years)

• 💵 Municipal Bond Interest – Often exempt from federal income tax

• ♿ Disability & Workers’ Compensation – Workers’ comp is generally tax-free – SSI is tax-free; SSDI may be partially taxable

• 💰 Qualified Tips (2025–2028) – Deduction available up to $25K – Phases out above $150K income ($300K married)

• ⏱️ Qualified Overtime Pay (2025–2028) – Deduction up to $12,500 (single) / $25,000 (married) – Phases out above $150K income

✅ Additional examples that are often not federally taxable include: HSA withdrawals (qualified expenses), employer health insurance contributions, certain alimony agreements, VA disability benefits, and some long-term care payouts.

👉 Want to reduce your tax liability in 2026? Comment “INFO” or call 724-833-8333 — I’ll help you identify opportunities to reduce your tax burden and keep more of your money. 💬

Proud Partner of Chapman Insurance Agency

*** Attention Business Owners *** Learn how to make the tax code work to your advantage and keep more of your profit! Sc...
05/12/2026

*** Attention Business Owners *** Learn how to make the tax code work to your advantage and keep more of your profit! Schedule a tax strategy review with us today to see how we can help your business grow.

Protect your retirement with strategies designed for both income and care needs. Fixed annuities and long-term care solu...
05/07/2026

Protect your retirement with strategies designed for both income and care needs. Fixed annuities and long-term care solutions can help provide financial stability, asset protection, and peace of mind for the future.

✔ Guaranteed income options
✔ Tax-deferred growth potential
✔ Protection from market volatility
✔ Long-term care & chronic illness benefits
✔ Inflation and income riders available
✔ Death benefit and legacy protection options

Planning today can help protect tomorrow.

📩 Contact our office to learn how annuities and long-term care solutions may support your retirement goals.

If you work from home, these are the deductions people most often miss:1. Internet & Utility PercentageYou can deduct th...
05/06/2026

If you work from home, these are the deductions people most often miss:

1. Internet & Utility Percentage
You can deduct the work-related portion of your internet, electricity, and even heating/cooling.

2. Depreciation of Your Home
If you qualify for the home office deduction, you may be able to write off part of your home’s value over time—not just expenses.

3. Home Office Repairs (Direct vs. Indirect)
Repairs only in your office (like painting or fixing a window) can be fully deductible. Whole-house repairs may be partially deductible.

4. Software & Subscriptions
Zoom, QuickBooks, Microsoft 365, Adobe, cloud storage—these add up and are fully deductible if business-related.

5. Cell Phone (Partial Use)
You can deduct the business-use percentage of your mobile phone bill.

6. Insurance (Home + Business Riders)
A portion of your homeowners or renters insurance may qualify based on your office space.

7. Furniture & Small Equipment
Not just desks—think lamps, shelves, ergonomic accessories, and even certain décor used in your workspace.

8. Cleaning Costs
If you pay to clean your home, a portion tied to your office space can count.

9. Security Systems
If you have a home security system, part of it may be deductible if it protects your work area.

10. HOA Fees (Partial)
Often overlooked—if you have a qualifying home office, a portion of HOA dues may be deductible.

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Address

3467 University Avenue, Suite 200
Morgantown, WV
26505

Opening Hours

Monday 8:30am - 4:30pm
Tuesday 8:30am - 4:30pm
Wednesday 8:30am - 4:30pm
Thursday 8:30am - 4:30pm
Friday 8:30am - 4:30pm

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