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SEPTEMBER/OCTOBER 2026

Sills and Associates PA

www.sillsandassociates.com
 
 
 
Sills and Associates PA
4400 Silas Creek Parkway
Suite #200
Winston-Salem, NC 27104
(336) 768-3290
mail@sillsandassociates.com
www.sillsandassociates.com
Drive year-end tax savings with business vehicles

Businesses considering vehicle purchases before year-end 2026 may be able to take advantage of significant tax-saving opportunities. This article explains the differences between the standard mileage and actual-expense methods, highlights the benefits of 100% bonus depreciation and Section 179 expensing, and outlines how business use and vehicle weight can affect available deductions.

Maximize retirement contributions before year end

As year end approaches, taxpayers age 50 and older may still have time to increase retirement plan catch-up contributions and potentially reduce their 2026 tax bill. Learn how new Roth catch-up rules affect higher-income participants and why reviewing contribution elections now may help improve year-end tax results.

Help heirs reduce taxes on inherited assets

With the federal gift and estate tax exemption at historically high levels, many families are shifting their estate planning focus to income tax considerations. This article explains how stepped-up basis rules can reduce capital gains tax on inherited assets, preserve family wealth and shape long-term estate planning strategies.

Tax Tips

As year end approaches, taxpayers may have opportunities to reduce their 2026 tax liability. Strategic gifting, a careful review of business expenses and education-related tax credits can help maximize tax savings while supporting financial, business and estate planning goals.

 
This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2026 •