Newsletter

BUSINESS News Briefs – Hot Topics issue 81 – February 2026

Buying or Selling?

Become a New Client

Car Loan interest  Deduction – also see eligibility rules in the ‘IRS Points'

Standard Mileage Rates  for 2026

IRS Filings

Recent IRS Newsletter, Their Points

Zebarth Consulting

Buying or Selling?

For over twenty years I have been assisting clients with acquisitions, mergers, or the sale of their business. The 1st step is to determine the estimated value of your business. Then we work together to find the best approach for you. We will evaluate buyers or sellers. 

I have two clients I am working with to sell their practices. Private Equity are still buying and I am seeing some great offers. Let me know if I can help you.

Become a New Client

I am currently accepting individual and business clients for 1) any personal or business tax preparation needs as well as planning and consulting services. You can use the information below or use my website ‘contact me’ tab. I work a lot in the medical profession and even more focused on Ophthalmology and Optometry, for consulting on your practice and how it compares to others. Are certain of your expenses too high or too many staff for your volume and related questions.

Standard Mileage Rates for 2026

Increases by 2.5 cents in 2026. The mileage rate for medical purposes will decrease by half a cent, reflecting updated cost data and annual inflation adjustments.
The updated standard mileage rates for 2026 for the use of a car, van, pickup or panel truck are:

• 72.5 cents per mile driven for business      use
• 20.5 cents per mile driven for medical      purposes
• 14 cents per mile driven in service of      charitable organizations

Use of these standard mileage rates is optional; you can choose to calculate the actual costs of using your vehicle.

IRS Filings

Filing electronically and choosing direct deposit remains the fastest way to receive a refund.

· IRS Free File offers eligible taxpayers’ brand-name tax preparation software at no cost.

· Free File Fillable Forms are available to taxpayers who are comfortable preparing and filing their own returns, regardless of income level.

· Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs offer free basic tax return preparation to qualified individuals.

· Over 1/2 of taxpayers use professionals to prepare and file their tax returns. The IRS encourages taxpayers to review tips for choosing a tax preparer and learn how to avoid unethical “ghost” return preparers. 

· Most refunds are issued within 21 days

o Direct deposit is the fastest way to receive a refund. The IRS has begun phasing out paper tax refund checks as of Sept. 30, 2025. Therefore most taxpayers will have to provide their routing and account numbers to receive their refunds.

· Taxpayers can track refund status using Where’s My Refund?, the IRS2Go app, or their IRS Individual Online Account. Some return refunds will require additional review and will take longer.

Recent IRS Newsletter, Their Points

The One Big Beautiful Bill Act made more than 100 changes to the tax code. Some take effect in 2026. Some provisions were retroactive to the beginning of 2025 and must be reported on 2025 tax returns. “While the OBBB Act is generally taxpayer-favorable in that it expands eligibility for certain deductions and benefits, the deductions and benefits are subject to some complex eligibility rules, income thresholds, and phaseouts which might be difficult for taxpayers to appreciate and for the IRS to administer correctly during the filing season.”

The benefits include new tax deductions for tip income, overtime pay, and interest paid on auto loans, as well as an additional standard deduction for senior citizens and an increased maximum deduction for taxes paid.

To demonstrate 1 example, here are the requirements be met to claim the deduction for interest on auto loans:

• The vehicle must be new      (used car purchases do not qualify);
• The vehicle must have been      purchased for personal use (lease payments do not qualify);
• The loan must have      originated after December 31, 2024;
• The loan must be secured      by a lien on the vehicle;
• The vehicle must carry a      gross vehicle weight rating of less than 14,000 pounds;
• The vehicle identification      number must be included on the tax return;
• The loan must not have      been obtained from a related party; and
• The vehicle must have      undergone “final assembly in the United States.”

This deduction is capped at $10,000 and begins to phase out for taxpayers with modified adjusted gross incomes over $100,000 for single taxpayers and $200,000 for married filing jointly taxpayers. It is fully phased out for single filers with MAGI over $150,000 and joint filers with MAGI over $250,000.

Zebarth Consulting

What is your business or personal life goal(s)? 

I would love to help you achieve that goal!

Let’s meet and see if we are a good match for each other. 

No charge for the general, get to know you, visit.

Daniel Zebarth, Senior Consultant, MBA, CPA (retired license)