Announcements & Resources
ANNOUNCEMENTS
Stay Up to Date
2025 Tax Extensions
Please remember that 2025 extended business returns are due 9/15/26, and for personal extensions they are due 10/15/26.
Route Sales
If you are a distributor, who recently purchased or sold route territory, please report these to your Accountant as soon as they close. Route sales need to be accounted for and capital gains will apply. Speak to your Accountant for more information.
Effective 1/1/2026
The IRS has increased the dollar threshold on reporting certain payments via Form 1099-NEC from $600 to $2,000 for payments made on or after 1/1/2026. Subsequent years may also changed due to inflation.
IRS and State Tax Audits
Without continuous monthly financials you are putting your business at risk. WRF will not be able to monitor the health of your business and ensure that you are paying yourself a reasonable salary and paying the applicable associated payroll taxes. The IRS will be heavily looking into businesses where owners are not receiving a salary and paying these taxes.
REMINDERS
Staying Compliant
Consequences of treating an employee as an independent contractor when you have no reasonable basis for doing so may leave you being held liable for employment taxes for that worker. For more information, visit https://www.irs.gov/taxtopics/tc762.
Submitting your reports every month will help you by allowing WRF to monitor the health of your business. We can determine financial recommendations for you and your business and ultimately help you manage your business month to month and year to year!
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SPECIALIZED SUPPORT
Why Choose White Rabbit?
We provide clear, reliable tax and accounting support backed by deep expertise, so you can stay compliant, make confident decisions, and focus on running your business.
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