BookKeeps of Patoka

04/15/2026

The Bookkeeps family would like to extend a BIG thank you to our clients for another outstanding tax season. We are also grateful for everyone's patience and understanding this year with the delays and tax changes. (Thank you Mother Nature and the IRS)

Just a reminder that our new hours begin Monday, April 20th. We will be open on Mondays from 9-4. You may call the office at 812-779-3500 to schedule a time if needed.

Again, thanks to all and have a great year!

03/13/2026

Good Morning,
We have office hour changes that we would like to share. On Monday the 16th and Tuesday the 17th of March our offices will be closed. For numerous reasons we find ourselves very far behind on completing returns in a timely manner. We do not accept giving bad service to our clients, and Kathy will be locked down during this period catching up on returns we currently have before accepting any new returns. The staff will return on Wednesday to intake new returns and get completed returns signed. We apologize if this causes any inconvenience.

01/25/2026

Jingle Bells..... Gibson County has declared emergency only traffic through Monday at 1200PM. So we will continue to be closed till at least Tuesday. We will have to see if we can get snow cleared and make the lot and sidewalks safe for clients prior to reopening. Looks like about 10 inches here and still snowing a bit. Be Safe!

01/22/2026

We will be closed Saturday due to anticipated weather. Most of us have to drive a fair distance and it just isn't looking like that will be a good idea for Saturday. We will monitor conditions and make decisions regarding the first of next week as this winter storm and cold blast develops. Stay safe folks, this looks like it could be rather serious.

12/15/2025

Happy Holidays to you all. Our offices will close at end of day December 22nd. We will open for full time hours on January 5th, 2026. Tax season is upon us and we are so looking forward to seeing our staff and clients again this year.

12/12/2025

That didn't take long.... Already getting some questions regarding the vehicle interest deduction. As with all things IRS there are certain if, ands, or buts with any tax law. For example the interest deduction must be on an "eligible" new vehicle. There is a list of things that cause a vehicle to be eligible or not. As with the home energy deductions we have to go online and enter information to see if the eligibility applies. For the vehicle it is the VIN number we need. This tells us if the vehicle was assembled in the US, which is one of the requirements.

On NHTSA.gov, you can query a particular vehicle’s VIN to identify the specific information encoded in the number.

12/12/2025

👵👴 New Senior Tax Deduction Alert!
Starting in 2025, taxpayers age 65 and older can claim an extra $6,000 deduction on their Form 1040.
✅ Key points:
- Deduction amount: $6,000 per person (up to $12,000 for married couples filing jointly if both are 65+).
- Available for tax years 2025–2028.
- Works as an above‑the‑line deduction (you get it whether you itemize or take the standard deduction).
- Phases out at $75,000 income (single) or $150,000 (married filing jointly), fully phased out at $175,000/$250,000.
💡 Why it matters: This deduction helps seniors keep more of their retirement income, especially Social Security and pensions, in their own pockets.

12/12/2025

🚗 Big News for Car Buyers!
Starting with the 2025 tax year, you may be able to deduct up to $10,000 per year in car loan interest on qualifying new passenger vehicles.
✅ Who qualifies?
- Buyers of new cars only (used cars and trucks don’t count).
- Income under $100,000 (single) or $200,000 (married filing jointly).
💡 How it works:
- Deduction applies whether you itemize or take the standard deduction.
- It’s an above-the-line deduction, reducing taxable income directly.
- Available for tax years 2025–2028.
📊 Example:
If you pay $8,000 in interest on a qualifying car loan in 2025, you can deduct the full amount. If you pay $12,000, the deduction caps at $10,000.

12/03/2025

💡 New for 2025: The Overtime Deduction! 💡
If you put in extra hours at work, the IRS now allows you to deduct a portion of your overtime pay on your tax return. Here’s the breakdown:
⏰ Who qualifies?
Employees who earn overtime wages in eligible occupations can claim this deduction.
💵 How much can you deduct?
• Up to $12,500 if filing single
• Up to $25,000 if filing jointly
📊 Income limits apply
The deduction phases out at higher income levels, so it’s most valuable for middle-income households.
📝 Why it matters
This deduction lowers taxable income, helping you keep more of your overtime earnings.
📌 Reminder: Track your overtime hours and pay carefully. Good records = bigger savings at tax time!

✨ Bottom line: Starting in 2025, overtime pay can reduce your taxable income. This is a major win for hardworking employees putting in extra hours.

12/03/2025

💡 New for 2025: The Tips Deduction! 💡
If you earn tips as part of your job, the IRS now allows you to deduct a portion of those tips on your tax return. Here’s what you need to know:
🍽️ Who qualifies?
Workers in tip-based industries (restaurants, salons, hospitality, etc.) can claim this deduction.
💵 How much can you deduct?
• Up to $25,000 if filing single
• Up to $50,000 if filing jointly
📊 Income limits apply
The deduction phases out at higher income levels, so it’s most valuable for middle-income households.
📝 Why it matters
This deduction helps reduce taxable income, meaning more of your hard-earned tips stay in your pocket.
📌 Reminder: Keep accurate records of your tips throughout the year. Good documentation = bigger savings at tax time!

✨ Bottom line: If you earn tips, 2025 is the first year you can deduct them. This could make a big difference in your refund or tax bill.