💼 Tax Tip: Is Your Business a Pass-Through Entity?
Did you know that 95% of small businesses pay taxes through their owners' personal tax returns instead of filing a separate corporate tax return?
If you're a sole proprietor, LLC, partnership, or S corporation, you're likely operating as a pass-through entity. That means your business income "passes through" to your individual tax return.
Here are a few things every business owner should know:
✔️ Many pass-through businesses may qualify for the 20% Qualified Business Income (QBI) deduction.
✔️ Your choice of business entity can affect your taxes, retirement planning, payroll taxes, and available deductions.
✔️ LLCs aren't a tax classification, they can choose how they're taxed, making periodic reviews an important part of tax planning.
✔️ S corporations may reduce certain payroll taxes when owners receive a reasonable salary, while partnerships follow different tax rules.
The right business structure can help you reduce taxes, improve cash flow, and support your long-term financial goals. As your business grows, the entity that made sense when you started may no longer be the best fit.
If you haven't reviewed your business structure recently, now is a great time. J.T. Hicks & Company can help you evaluate your options and develop a tax strategy designed to help your business thrive.
I’m excited to speak at APTA Private Practice Annual Conference!
Join me for my session, “Take a Bite Out of Taxes”, on November 13th at 3:15pm. I’ll be diving into Advanced Fringe Benefits and Retirement Strategies.
🚗 Are you looking in the rearview mirror or through the windshield when it comes to your taxes?
Most tax professionals are excellent at preparing tax returns. But preparing a return and helping you strategically reduce future taxes are two very different things.
In this quick video, Tom Hicks, CPA explains the key difference between a "tax preparer" and a Tax Advisor.
A tax preparer focuses on reporting what already happened. A tax advisor focuses on helping you make better decisions before they happen, so you can legally reduce your tax burden and keep more of what you earn.
If you've ever found yourself saying:
✔️ "I wish my tax professional would give me more advice."
✔️ "I want to be more proactive about taxes."
✔️ "There has to be a better way to plan ahead."
Then this video is for you.
At J.T. Hicks & Company, we believe tax efficiency isn't about how much you make. It's about how much you keep. That's why we focus on education, planning, and proactive tax strategies designed to help our clients reach their financial goals.
📅 Ready to find out if you're missing opportunities to reduce your taxes? Schedule a FREE consultation today and let's discuss your goals, your tax situation, and how strategic planning may help you keep more of your hard-earned money.
🚨 Business Owners: Major 1099 Changes Are Coming in 2026 🚨
If your business pays contractors, freelancers, vendors, attorneys, or other non-employees, you'll want to pay attention to this update.
One of the biggest changes? The federal reporting threshold for many Form 1099 requirements is increasing from $600 to $2,000 beginning in 2026.
While this may reduce some reporting burdens, there are still important compliance requirements you need to understand. Including who should receive a 1099, how to properly collect W-9 information, filing deadlines, and how to avoid costly penalties.
In this short video, Tom Hicks, CPA, breaks down:
✔️ What is changing in 2026
✔️ Who is affected
✔️ Common 1099 mistakes business owners make
✔️ Why collecting a W-9 before making payment can protect your business
✔️ Best practices for staying compliant and organized
The tax code is constantly changing, and proactive planning can save you time, money, and unnecessary headaches.
📅 Have questions about how these changes could impact your business? Schedule a FREE consultation with our team and let's discuss your situation before these rules take effect.
A good tax advisor isn't expensive—they're priceless.
In this video, Tom Hicks, CPA breaks down key tax strategies, common mistakes taxpayers make, and why waiting until tax season is often too late to make meaningful changes.
Too many people:
❌ Overpay in taxes
❌ Miss deductions
❌ Wait until April to think about tax strategy
❌ Assume their refund means everything was done correctly
The reality? A good tax strategy should happen year-round.
At J.T. Hicks & Company, we help individuals and business owners proactively plan ahead to reduce surprises and legally minimize tax liability.
📞 We also offer a FREE consultation with our tax professionals to review your situation and discuss potential opportunities you may be missing.
Getting a huge tax refund might feel exciting, but it can also mean you gave the government an interest-free loan all year.
If you consistently receive large refunds, it may be time to review:
✔️ Your paycheck withholdings
✔️ Estimated tax payments
✔️ Tax credits and deductions
✔️ Income changes from the past year
A refund is not necessarily bad, but the goal should be accurate tax planning—not overpaying all year and waiting for your money back.
On the flip side, owing thousands every April is usually a sign your tax strategy needs attention, too.
The sweet spot? Keeping more of your money throughout the year while avoiding surprise tax bills later.
Small adjustments now can make a major difference next tax season.
The Social Security Administration announced a 2.8% cost-of-living increase to monthly Social Security and SSI benefits for 2026 — slightly lower than last year’s 3.2% bump. The increase reflects inflation as measured by the Consumer Price Index through September 2025.
For those still working, the maximum income subject to Social Security tax will rise to $184,500 — a 4.8% jump from 2025. That means the maximum annual employee Social Security tax will now be $11,439, an increase of $521. If you work multiple jobs and overpay, you can claim the excess as a credit on your tax return.
📈 Key Highlights:
Average monthly Social Security benefit: $2,071, up $56.
SSI qualification limits remain low: $2,000 in resources for singles, $3,000 for married couples.
Students who are blind or disabled can continue to receive SSI within income limits.
Social Security and Medicare tax rates remain 6.2% and 1.45%, respectively. Self-employed individuals pay both halves (15.3% total).
➡️ Tax Planning Tip: The wage base for Social Security keeps rising faster than inflation—so higher earners should plan now for the extra withholding.
💡 Tax Tip Tuesday: Get Ahead of the Shock
If you found yourself writing a big check to the IRS (again), chances are your tax plan is reactive, not PROACTIVE. That “refund or owe” result isn’t just about what happens in April… it’s about choices you make all year long.
👉 Tip: Mid-year is the smart time to run a tax projection.
A quick review now can:
✅ Help adjust your withholdings
✅ Identify hidden income triggers (like side gigs, bonuses, investment sales)
✅ Reveal opportunities to save on your 2025 tax bill
The worst time to fix a tax problem is after it’s already happened.
The best time? Right now.
J.T. Hicks & Company
💼 Tax Tip: Is Your Business a Pass-Through Entity?
Did you know that 95% of small businesses pay taxes through their owners' personal tax returns instead of filing a separate corporate tax return?
If you're a sole proprietor, LLC, partnership, or S corporation, you're likely operating as a pass-through entity. That means your business income "passes through" to your individual tax return.
Here are a few things every business owner should know:
✔️ Many pass-through businesses may qualify for the 20% Qualified Business Income (QBI) deduction.
✔️ Your choice of business entity can affect your taxes, retirement planning, payroll taxes, and available deductions.
✔️ LLCs aren't a tax classification, they can choose how they're taxed, making periodic reviews an important part of tax planning.
✔️ S corporations may reduce certain payroll taxes when owners receive a reasonable salary, while partnerships follow different tax rules.
The right business structure can help you reduce taxes, improve cash flow, and support your long-term financial goals. As your business grows, the entity that made sense when you started may no longer be the best fit.
If you haven't reviewed your business structure recently, now is a great time. J.T. Hicks & Company can help you evaluate your options and develop a tax strategy designed to help your business thrive.
📞 Schedule your consultation today and make sure your business is working as efficiently as possible.
keap.page/qdj379/copy-of-new-client-welcome-page.h…
3 days ago | [YT] | 0
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J.T. Hicks & Company
I’m excited to speak at APTA Private Practice Annual Conference!
Join me for my session, “Take a Bite Out of Taxes”, on November 13th at 3:15pm. I’ll be diving into Advanced Fringe Benefits and Retirement Strategies.
Let’s connect and learn together!
👉 Register: shorturl.at/N9Tez
#PPS2026, #APTAPPS2026 @APTA Private Practice
1 week ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
🚗 Are you looking in the rearview mirror or through the windshield when it comes to your taxes?
Most tax professionals are excellent at preparing tax returns. But preparing a return and helping you strategically reduce future taxes are two very different things.
In this quick video, Tom Hicks, CPA explains the key difference between a "tax preparer" and a Tax Advisor.
A tax preparer focuses on reporting what already happened. A tax advisor focuses on helping you make better decisions before they happen, so you can legally reduce your tax burden and keep more of what you earn.
If you've ever found yourself saying:
✔️ "I wish my tax professional would give me more advice."
✔️ "I want to be more proactive about taxes."
✔️ "There has to be a better way to plan ahead."
Then this video is for you.
At J.T. Hicks & Company, we believe tax efficiency isn't about how much you make. It's about how much you keep. That's why we focus on education, planning, and proactive tax strategies designed to help our clients reach their financial goals.
🎥 Watch the video here: https://youtu.be/KLlSjEN__hM
📅 Ready to find out if you're missing opportunities to reduce your taxes? Schedule a FREE consultation today and let's discuss your goals, your tax situation, and how strategic planning may help you keep more of your hard-earned money.
A tax advisor isn't expensive, they're priceless!
#TaxAdvisor #TaxPlanning #CPA #TaxStrategy #SmallBusiness #BusinessOwner #TaxEfficiency #FinancialP
1 month ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
🚨 Business Owners: Major 1099 Changes Are Coming in 2026 🚨
If your business pays contractors, freelancers, vendors, attorneys, or other non-employees, you'll want to pay attention to this update.
One of the biggest changes? The federal reporting threshold for many Form 1099 requirements is increasing from $600 to $2,000 beginning in 2026.
While this may reduce some reporting burdens, there are still important compliance requirements you need to understand. Including who should receive a 1099, how to properly collect W-9 information, filing deadlines, and how to avoid costly penalties.
In this short video, Tom Hicks, CPA, breaks down:
✔️ What is changing in 2026
✔️ Who is affected
✔️ Common 1099 mistakes business owners make
✔️ Why collecting a W-9 before making payment can protect your business
✔️ Best practices for staying compliant and organized
The tax code is constantly changing, and proactive planning can save you time, money, and unnecessary headaches.
🎥 Watch the video here:
https://youtu.be/dYxFIJuCxLo
📅 Have questions about how these changes could impact your business? Schedule a FREE consultation with our team and let's discuss your situation before these rules take effect.
A good tax advisor isn't expensive—they're priceless.
#TaxTips #1099 #BusinessTaxes #SmallBusiness #TaxPlanning #CPA #TaxAdvisor #IRSUpdates #BusinessOwners #TaxEfficiency
1 month ago | [YT] | 0
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J.T. Hicks & Company
🚨 Tax Surprise Alert 🚨
Got a raise this year?
Started a side hustle?
Received a bonus?
Then this Tax Tip Tuesday is for YOU.
Too many people assume their taxes are "taken care of" because money comes out of every paycheck.
Then April shows up... and so does a tax bill. 😬
A quick review now could help you:
✅ Avoid owing next year
✅ Adjust your withholding
✅ Plan for additional income
✅ Keep more of what you earn
The worst time to discover a tax problem is when you're filing your return.
The best time? Right now.
Contact Us Now: jthicksandcompany.com
#TaxTipTuesday #TaxTips #CPA #MoneyMatters #TaxPlanning #FinancialTips #JTHicksAndCompany
1 month ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
PART TWO!!
Most people don’t have a tax problem…
They have a tax planning problem.
In this video, Tom Hicks, CPA breaks down key tax strategies, common mistakes taxpayers make, and why waiting until tax season is often too late to make meaningful changes.
Too many people:
❌ Overpay in taxes
❌ Miss deductions
❌ Wait until April to think about tax strategy
❌ Assume their refund means everything was done correctly
The reality? A good tax strategy should happen year-round.
At J.T. Hicks & Company, we help individuals and business owners proactively plan ahead to reduce surprises and legally minimize tax liability.
📞 We also offer a FREE consultation with our tax professionals to review your situation and discuss potential opportunities you may be missing.
keap.page/qdj379/new-client-welcome-page.html
Watch the video and start thinking differently about taxes.
https://youtu.be/D3YmYhDy6Fw
#TaxPlanning #CPA #TaxStrategy #FinancialPlanning #SmallBusiness #TaxTips #JTHicksAndCompany
1 month ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
💡 TAX TIP TUESDAY 💡
Getting a huge tax refund might feel exciting, but it can also mean you gave the government an interest-free loan all year.
If you consistently receive large refunds, it may be time to review:
✔️ Your paycheck withholdings
✔️ Estimated tax payments
✔️ Tax credits and deductions
✔️ Income changes from the past year
A refund is not necessarily bad, but the goal should be accurate tax planning—not overpaying all year and waiting for your money back.
On the flip side, owing thousands every April is usually a sign your tax strategy needs attention, too.
The sweet spot? Keeping more of your money throughout the year while avoiding surprise tax bills later.
Small adjustments now can make a major difference next tax season.
#TaxTipTuesday #TaxPlanning #FinancialWellness #TaxSeason #SmallBusinessTaxes #JTHicksAndCompany
1 month ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
💸 Still frustrated by what you owed in taxes this month?
Here’s a mistake we see every year: people get hit with a large tax bill in April and then make no changes afterward.
Fast forward 12 months:
➡️ Same income
➡️ Same tax habits
➡️ Same surprise bill
Sometimes it’s even worse.
If you owed thousands this tax season, now is the time to ask yourself:
✔️ Are your withholdings accurate?
✔️ Are you making estimated payments?
✔️ Did your income increase?
✔️ Are you missing deductions?
✔️ Do you need a better tax strategy?
April shouldn’t be the first time you think about taxes. It should be the time you figure out what needs to change.
The people who save the most on taxes are usually planning in May, June, and July, not scrambling next April.
Don’t repeat the same tax surprise next year. Start making adjustments now.
Call Us: www.jthicksandcompany.com
#TaxPlanning #TaxSeason #TaxTips #FinancialPlanning #SmallBusinessTaxes #TaxStrategy #JTHicksAndCompany
2 months ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
Social Security Update for 2026
The Social Security Administration announced a 2.8% cost-of-living increase to monthly Social Security and SSI benefits for 2026 — slightly lower than last year’s 3.2% bump. The increase reflects inflation as measured by the Consumer Price Index through September 2025.
For those still working, the maximum income subject to Social Security tax will rise to $184,500 — a 4.8% jump from 2025. That means the maximum annual employee Social Security tax will now be $11,439, an increase of $521. If you work multiple jobs and overpay, you can claim the excess as a credit on your tax return.
📈 Key Highlights:
Average monthly Social Security benefit: $2,071, up $56.
SSI qualification limits remain low: $2,000 in resources for singles, $3,000 for married couples.
Students who are blind or disabled can continue to receive SSI within income limits.
Social Security and Medicare tax rates remain 6.2% and 1.45%, respectively. Self-employed individuals pay both halves (15.3% total).
➡️ Tax Planning Tip: The wage base for Social Security keeps rising faster than inflation—so higher earners should plan now for the extra withholding.
8 months ago | [YT] | 0
View 0 replies
J.T. Hicks & Company
“Why did I owe again this year?”
💡 Tax Tip Tuesday: Get Ahead of the Shock
If you found yourself writing a big check to the IRS (again), chances are your tax plan is reactive, not PROACTIVE. That “refund or owe” result isn’t just about what happens in April… it’s about choices you make all year long.
👉 Tip: Mid-year is the smart time to run a tax projection.
A quick review now can:
✅ Help adjust your withholdings
✅ Identify hidden income triggers (like side gigs, bonuses, investment sales)
✅ Reveal opportunities to save on your 2025 tax bill
The worst time to fix a tax problem is after it’s already happened.
The best time? Right now.
📞 Schedule a check-in and avoid another April surprise.
keap.page/qdj379/new-client-welcome-page.html
#TaxTipTuesday #TaxPlanning #PainPointPost #StopTheShock #TaxHelp #FinancialWellness #JTHicksAndCompany #CPAFirm #MaineBusiness #TaxProTips
11 months ago | [YT] | 0
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