Jodie A. Douglass CPA Inc.

Jodie A. Douglass CPA Inc. We are a leading CPA firm in the Ardmore, OK area with over 35 years of experience! Here to serve your Tax and Accounting needs!

We are here to serve the public with their Tax, Accounting, Payroll, and Retirement needs. We have been in business for 23 years with 36 years of experience. We are on your side and want you to pay the least amount of tax possible, stay in compliance, retire with the lifestyle you want, and help you pass on to your family what you worked so hard for. Call us today for an appointment at 580-223-5122 or go to our website at jodiedouglasscpa.com

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of...
08/28/2026

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of the awards are tax-free. To qualify for tax-free status, scholarships must meet three criteria: 1) The student must be a degree candidate at an eligible educational institution, 2) the award must be used to pay for tuition and fees, books, and certain supplies (not room and board or travel), and 3) the award can’t represent wages for teaching or research. Many graduate student awards have employment compensation components, so they may be taxable. Also, taxable scholarship money could potentially be subject to the “kiddie” tax. Contact us at (580) 223-5122 for more information.

If you’re age 50 or older, a great way to enhance your retirement nest egg is to make “catch-up” contributions to your 4...
08/26/2026

If you’re age 50 or older, a great way to enhance your retirement nest egg is to make “catch-up” contributions to your 401(k), 403(b), 457 plan, SIMPLE or IRA. And workers age 60 to 63 can potentially boost their 401(k) or other employer-sponsored retirement plan up to 150% of the regular catch-up limit. For 2026, this means an extra contribution of $11,250 ($5,250 for SIMPLEs). Want to make the most of tax-advantaged savings opportunities? Contact us at (580) 223-5122.

Is federal tax debt blocking you from achieving your financial goals? Unresolved tax debt can lead to interest and penal...
08/24/2026

Is federal tax debt blocking you from achieving your financial goals? Unresolved tax debt can lead to interest and penalties, tax liens, asset seizures — and even the denial or revocation of your passport. These consequences can make it difficult to move forward. The good news is relief may be just a phone call away. We can assess your situation and help you find a path forward. Contact us at (580) 223-5122 to discuss your next steps.

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising...
08/21/2026

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising fuel costs. Effective July 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 76 cents per mile, up from 72.5 cents per mile for the first half of the year. The revised rate for medical and eligible moving purposes is 23.5 cents per mile, up from 20.5 cents per mile. For charitable driving, the 14 cents per mile rate remains unchanged. These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, keep detailed mileage records. Call us at (580) 223-5122 with questions.

The IRS is more likely to audit certain types of businesses, such as those that are primarily cash-based. Although you p...
08/19/2026

The IRS is more likely to audit certain types of businesses, such as those that are primarily cash-based. Although you probably can’t change the nature of your transactions, you can control the accuracy of your tax returns. Minimize errors by maintaining meticulous documentation. Generally, you should keep tax records for at least three years — the normal statute of limitations for an IRS adjustment. And don’t try to go it alone: Call us at (580) 223-5122 for help reducing the likelihood of attracting IRS scrutiny, as well as for support if your tax return is ever questioned.

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may...
08/17/2026

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may ease stress and reduce penalties, but draining cash can disrupt operations, payroll and growth. There’s no one-size-fits-all answer. In many cases, the IRS offers options — such as installment agreements, temporary collection holds or penalty relief — that may help you stay compliant while preserving cash flow. The biggest risk is choosing extremes, either depleting cash reserves or ignoring the issue. A balanced strategy often works best. Call us at (580) 223-5122. We can review your options and help you create a plan.

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you...
08/14/2026

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling or other winnings, be sure you understand the tax impact. Federal tax law generally treats such winnings as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. For example, if you win more than $5,000, generally the payer (lottery agency, casino, etc.) will withhold 24% for federal tax purposes — which may or may not be enough to cover your tax liability — and send you and the IRS a Form W-2G showing the winnings paid and tax withheld. There also might be state tax consequences. Call us at (580) 223-5122 to learn more.

You may be eligible for the Child and Dependent Care Credit if you pay for care so you can work. For 2026, the credit fo...
08/12/2026

You may be eligible for the Child and Dependent Care Credit if you pay for care so you can work. For 2026, the credit for lower-income taxpayers increases from 35% to 50% of the first $3,000 of qualified expenses for one child ($6,000 for two or more children). Some middle-income taxpayers may also qualify for a larger percentage than in prior years. Call us at (580) 223-5122 to learn how the updated rules may apply to your family.

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it...
08/10/2026

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it’s headed — before year end. Tax planning opportunities may still be available, but they’ll become more limited as the calendar winds down. Whether you’re considering equipment purchases, compensation strategies, retirement plan contributions or other tax-saving moves, now is the time to look ahead and review your options. Call us at (580) 223-5122 to bring your 2026 tax strategy into focus.

If you and your spouse operate a profitable, unincorporated small business, you face some unique tax issues. The IRS wil...
08/07/2026

If you and your spouse operate a profitable, unincorporated small business, you face some unique tax issues. The IRS will generally classify your business as a partnership for federal tax purposes. So, you’ll have to file an annual partnership return and both you and your spouse must receive Schedules K-1, which allocate taxable income, deductions and credits between the two of you. You must also pay self-employment (SE) tax on your share of the net SE income passed through to you by the spousal partnership. Your spouse must do the same. The bottom line: Turn to us to keep your business in compliance with the IRS while you and your spouse keep the business running smoothly. Contact us at (580) 223-5122.

Address

11 Scott Street SW
Ardmore, OK
73401

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 3pm

Telephone

+15802235122

Website

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