Mabel's Tax Service, Inc.

Mabel's Tax Service, Inc. Walk ins welcome. We file personal and business taxes. Feel free to contact us with tax questions.

Happy Father's day 2026!
06/21/2026

Happy Father's day 2026!

06/15/2026

đź’° This is an updated version of a post I ran a couple of months ago.

The 2026 HSA limits are $4,400 for self-only coverage and $8,750 for family coverage, plus a $1,000 catch-up at 55.

Payroll HSA contributions skip both income tax and F**A, a benefit no 401(k) or IRA contribution provides, worth about $337 a year on a maxed self-only contribution.

The invest-it-instead strategy depends on paying current medical costs out of pocket and keeping receipts, because the IRS lets you reimburse yourself years later for any qualified expense incurred after the HSA was opened.

After 65, non-medical withdrawals are taxed as ordinary income with no penalty, which makes the HSA work roughly like a traditional IRA but with no required minimum distributions.

The last-month rule has a catch: become eligible in December and you can fund the full year, but if eligibility does not last through the following December, the excess is added to your income plus a 10% tax.

At death, a spouse inherits the HSA as their own, but for any other beneficiary the account terminates and the full balance is taxable income in the year of death.

A reader asked what reduces that taxable amount: qualified medical expenses the decedent incurred before death, as long as the beneficiary pays them within one year after the death.

That single rule is why an HSA that shines during your lifetime is one of the weakest accounts to leave to adult children.



*The content shared here is for educational and informational purposes only. It is not personalized investment, tax, legal, or financial advice. Consult a licensed professional before making decisions based on your specific situation.*

06/03/2026

An reminder for : A mid-year withholding review can help your clients avoid an unexpected tax bill or penalties when they file next year. Help them get started using the Tax Withholding Estimator: www.irs.gov/withholding

05/19/2026

Whether you're looking for info on IRS notices, trying to understand your tax obligations, or seeking help with your IRS issue, TAS is here to help. Our Get Help pages are a great place to start: https://ow.ly/vhlC50Z1KXH

05/19/2026

🔍 Attention Taxpayers!
Have you received a CP53E notice from the IRS? If you filed your tax return but didn’t provide or update your bank account information, the IRS will send you a CP53E notice. This notice prompts you to add or update your direct deposit details through your IRS Online Account.

Key Points to Remember:
• You have 30 days to respond to the notice.
• If you don’t take action, the IRS will issue a paper check after six weeks.
• The CP53E notice is issued only once. If a second direct deposit fails, you won’t have
another chance to update your bank info.

Verify your information through your IRS Online Account and protect yourself from potential scams. https://ow.ly/a6wb50YZGg2

05/19/2026

Learn how to easily complete the PAS-1 Property Tax Relief application online with this step – by – step guide, from eligibility and ID verification to submitting your application, tracking your status and more. Visit our YouTube channel for instructions and guidance at; https://youtu.be/edT4Mbcg0LM

05/19/2026

The Stay NJ benefit is paid in quarterly installments, not as a lump benefit. We expect to send the second installment of the 2024 Stay NJ benefit on May 15, 2026. Eligible recipients will receive paper checks in the mail. The third installment is expected to be sent in August 2026, subject to appropriation in the Fiscal Year 2027 Appropriations Act.
For more information, visit;
https://www.nj.gov/treasury/taxation/relief.shtml

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3711 Westfield Avenue
Camden, NJ
08105

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