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Catherine Accounting & Tax Services LLC Helping individuals & entrepreneurs with stress-free taxes, bookkeeping & IRS solutions.

Received an IRS notice, have back taxes, or worried about an audit? You don’t have to figure out the next step alone.Cat...
10/16/2026

Received an IRS notice, have back taxes, or worried about an audit? You don’t have to figure out the next step alone.

Catherine Accounting & Tax Services LLC offers a no-pressure start-of-resolution review to discuss your situation and possible next steps for IRS notices, back taxes, payment plans, audits, liens, and levies.

We’re Maryland-licensed, with 9 years of experience and direct IRS and Maryland representation experience. Every tax situation is different, and no outcome can be guaranteed.

Ready to talk? Contact us at https://www.cattaxpro.com/contact.php or call (240) 593-8146.

General information only; not tax advice.

Contractors and service businesses: are unpaid invoices putting pressure on your cash flow?The Federal Reserve raised it...
10/16/2026

Contractors and service businesses: are unpaid invoices putting pressure on your cash flow?

The Federal Reserve raised its target range to 3.75%–4% on September 16. When borrowing costs are elevated, delayed payments can make it harder to cover financing, payroll, and materials.

We’re offering a FREE Q4 accounts-receivable and cash flow review. We’ll sit down with you before year-end to review:
✅ Who owes your business
✅ How old your outstanding invoices are
✅ Which accounts may be paying slowly
✅ A simple cash flow plan for the final quarter

Get clearer on what’s coming in and plan your next steps with confidence.

Reach out through our contact form to request your review: https://www.cattaxpro.com/contact.php

The QBI deduction was supposed to expire after 2025. It didn't, and starting in 2026 it actually got better for smaller ...
10/16/2026

The QBI deduction was supposed to expire after 2025. It didn't, and starting in 2026 it actually got better for smaller business owners.

If you own an S-corp, partnership, or sole proprietorship, here's what changed for your 2026 return:

1) The 20% qualified business income (QBI) deduction is now permanent. No more planning around a 2025 sunset date.

2) New minimum deduction: if you have at least $1,000 of QBI from a business you actively work in, you can claim a $400 minimum deduction, even if the regular 20% math would give you less.

3) Bigger phase-out range: the income limits where the deduction starts shrinking moved up to $75,000 single / $150,000 married filing jointly (indexed for inflation going forward).

What this means in practice: pass-through owners get a deduction worth up to 20% of their business income, on top of normal expenses, but the interaction with W-2 wages, the new $400 minimum, and your taxable income level is where returns get left on the table.

With year-end approaching, now is the time to check how your salary, distributions, and estimated payments will interact with the 2026 QBI rules, not in April.

Have questions about your QBI deduction for 2026? Send us a message or use our contact form: https://www.cattaxpro.com/contact.php

General information, not tax advice - your situation may differ. Catherine Accounting & Tax Services LLC, Maryland-licensed accounting and tax firm.

Contractors and service businesses: recurring agreements are easier to manage when every job has one clear record.Use on...
10/15/2026

Contractors and service businesses: recurring agreements are easier to manage when every job has one clear record.

Use one tracker, with a row for each client agreement, and include:
✓ Billing amount, frequency, and next due date
✓ Scheduled and completed service dates and work status
✓ Job-related expenses, such as materials and labor
✓ Invoice date, due date, payment status, and outstanding balance

Review it weekly. Compare expected billings with work completed, expenses recorded, and invoices still unpaid. This makes upcoming cash needs and follow-ups easier to see, without confusing projected billings with money already collected.

If agreement details are scattered across calendars, inboxes, and notes, a consistent bookkeeping routine can bring the picture together.

Need help organizing your books or building a useful reporting routine? Contact Catherine Accounting & Tax Services LLC: https://www.cattaxpro.com/contact.php

Real estate investors: clearer tax decisions start with organized records.In an anonymized, illustrative example, a rent...
10/14/2026

Real estate investors: clearer tax decisions start with organized records.

In an anonymized, illustrative example, a rental property investor had disorganized records and couldn’t easily see how each property was performing. Organizing income and expenses by property helped clarify the numbers. Repairs were separated from potential capital improvements, and depreciation and estimated payments were reviewed for the investor’s situation.

The result? A clearer view of property performance and a cleaner year-end tax picture, not a promise of a particular tax outcome.

The takeaway: track each property, keep supporting documents, and review your records throughout the year. Tax treatment generally depends on the details and applicable rules.

For help organizing your real-estate finances, contact us: https://www.cattaxpro.com/contact.php

General information only; not tax, legal, or financial advice. Individual circumstances vary.

Contractors, construction and service businesses, home health providers, and independent professionals: a 1099 mismatch ...
10/13/2026

Contractors, construction and service businesses, home health providers, and independent professionals: a 1099 mismatch can catch you off guard.

A CP2000 is not an audit. It’s an automated IRS notice issued when income on your tax return doesn’t match information reported by third parties.

For 2026:
✓ Form 1099-NEC reporting threshold: $2,000 or more per payee.
✓ Third-party settlement organizations generally report Form 1099-K when gross payments exceed $20,000 AND there are more than 200 transactions.

A 1099-K shows gross payments, not necessarily your net income. It may include shipping and amounts before fees, refunds, and chargebacks, so it can look higher than what you actually kept.

If you receive a CP2000:
✓ Reconcile the form to your books.
✓ Keep a workpaper showing gross payments and adjustments for fees, refunds, and chargebacks.
✓ Respond on time. The IRS generally expects a response within 30 days of the notice date; check your notice for its deadline.
✓ Keep clean books so your records and reported income line up.

Need help with bookkeeping, tax compliance, or a notice? Catherine Accounting & Tax Services LLC is a Maryland-licensed accounting and tax firm.
https://www.cattaxpro.com/contact.php

General information only, not tax advice.

Unfiled tax returns? Don’t ignore them, start with a review.If you owe tax, the failure-to-file penalty is generally 5% ...
10/12/2026

Unfiled tax returns? Don’t ignore them, start with a review.

If you owe tax, the failure-to-file penalty is generally 5% of unpaid tax for each month or part of a month, up to 25%. The failure-to-pay penalty is generally 0.5% per month, up to 25%. When both apply for the same month, the failure-to-file penalty is reduced by the failure-to-pay penalty.

If you don’t file, the IRS may prepare a Substitute for Return (SFR) under IRC 6020(b), using third-party records such as W-2s and 1099s. It generally won’t include your deductions, credits, or dependents, so the balance may be higher than what you actually owe. Filing an accurate return can replace the SFR.

You may also lose a refund if you miss the applicable claim deadline. Many refund claims have a 3-year deadline.

Contractor, construction, or service business owner? Gather your notices, income and expense records, and prior returns. Our Maryland-licensed accounting and tax firm offers a no-pressure review of notices, unfiled returns, and back taxes.

Start here: https://www.cattaxpro.com/contact.php

General information only, not tax advice.

Residential contractors: 2026 may change when income from qualifying jobs is recognized, not just how you report the wor...
10/12/2026

Residential contractors: 2026 may change when income from qualifying jobs is recognized, not just how you report the work.

For contracts entered into in tax years beginning after July 4, 2025, the OBBBA expanded the exception to mandatory percentage-of-completion accounting to qualifying residential construction contracts. Generally, at least 80% of estimated costs must relate to dwelling units and related on-site improvements; the old four-unit cap was removed. There is no gross-receipts test for this residential exception.

Depending on the contract and your eligibility, a permissible method such as completed-contract accounting may affect when income is recognized. For certain related rules, the expected completion window increased from two to three years. This is not an automatic deferral, or a change to make without reviewing your situation.

A method change generally involves accounting-method procedures. Rev. Proc. 2026-32 provides automatic-change guidance, and Form 3115 may apply. Your contracts, business structure, current method, and books all matter. Organized job-cost records and accurate financial statements are essential.

Let’s review your tax planning, bookkeeping, and business return approach before you make a change: https://www.cattaxpro.com/contact.php

General information only, not tax advice.

Profitable but cash-tight in Q4? You’re not alone. 💡Profit does not always equal available cash. In the final quarter of...
10/05/2026

Profitable but cash-tight in Q4? You’re not alone. 💡

Profit does not always equal available cash. In the final quarter of 2026, payroll, materials, unpaid invoices, operating expenses, and tax obligations may compete for the same dollars.

For many calendar-year individual taxpayers, the final 2026 estimated tax payment is due January 15, 2027. Planning ahead can help you avoid last-minute cash pressure.

Try this monthly cash-flow review:

✅ Reconcile bank and credit card accounts
✅ Review invoices due and expected collection dates
✅ List upcoming payroll, materials, vendor, and tax obligations
✅ Compare your cash balance with the next 30–60 days of commitments
✅ Update your profit and loss statement and cash-flow forecast
✅ Set aside funds for taxes before spending the remainder

This simple review gives you a clearer view of what is available now, what is committed, and what needs attention next.

Catherine Accounting & Tax Services LLC can help you organize your books, improve cash-flow visibility, and plan for upcoming tax obligations.

Need CFO-style clarity for your business? Contact us:
https://www.cattaxpro.com/contact.php
📞 (240) 593-8146

This is general information, not tax advice. Tax rules and individual circumstances vary.

Contractors, construction and service business owners, and home health providers: October is the time to review your 202...
10/02/2026

Contractors, construction and service business owners, and home health providers: October is the time to review your 2026 tax strategy, not December.

Q4 planning can help you evaluate:
✅ Equipment and vehicle purchase decisions
✅ Bookkeeping cleanup and deductible expense records
✅ Payroll, owner compensation, and estimated tax payments
✅ Year-end cash flow and business-return readiness
✅ The January 15, 2027 individual estimated tax deadline, when applicable

Waiting too long can mean incomplete records, rushed decisions, and unnecessary tax stress. Reviewing your numbers now gives you time to plan before year-end.

Catherine Accounting & Tax Services LLC is a Maryland-licensed accounting and tax firm providing personalized guidance for contractors, small businesses, home health providers, and independent professionals. We connect tax planning with bookkeeping, business returns, IRS compliance, and cash-flow strategy.

A limited number of Q4 Business Tax Strategy Reviews are opening this month. We’ll review your current numbers, identify planning opportunities, and outline practical next steps for your business.

The earlier you review your numbers, the more options you still have for 2026.

Request your review:
https://www.cattaxpro.com/contact.php
(240) 593-8146

General information only, not tax advice. Individual results depend on your facts and applicable rules.

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10001 Derekwood, Suite 205/135
Lanham, MD
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