Rollins & Rollins, CPAs

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Hixson, TN
Rollins & Rollins, CPAs

Let our team assist you to secure a sound financial future. We are committed to providing personal assistance to all of our clients.

Rollins & Rollins, CPAs provides outstanding service to our clients including individuals, partnerships, corporations, non-profit organizations and CPA firms across the United States. We provide a wide range of services from business start-up to tax preparation, compilations and reviews, bookkeeping services, business consulting, peer reviews, and much more. With more than forty combined years of professional financial and accounting experience, we can assist you or your business with tax, accounting, and general business needs. This personal assistance comes from years of training, experience and sound financial judgement.

11/04/2025

In many respects, estate planning for single parents is similar to estate planning for families with two parents. Single parents want to provide for their children’s care and financial needs after they’re gone. But when only one parent is involved, certain aspects of an estate plan demand special attention. One example is selecting an appropriate guardian. What if you become incapacitated or die suddenly and the other parent is unavailable to take custody of your children? Does your estate plan designate a suitable, willing guardian to care for them? Contact us at (423) 842-1122 for assistance.

11/03/2025

Does your business pay independent contractors? A provision in the One Big Beautiful Bill Act, signed into law on July 4, 2025, will reduce your required reporting. Currently, businesses that pay $600 or more for services rendered by a contractor must issue a Form 1099-NEC (Nonemployee Compensation). Beginning with payments made in 2026, the threshold increases to $2,000 and will be adjusted for inflation in subsequent years. This change will simplify compliance and reduce the risk of penalties for missed filings. Contact us at (423) 842-1122 with questions about how to proceed.

10/31/2025

Does your business incur research and experimentation (R&E) expenses? The One, Big, Beautiful Bill Act reinstates the immediate deduction for research activities conducted in the United States, beginning in 2025. Before the new law was enacted, R&E expenses had to be capitalized and amortized over five years, beginning on or after Jan. 1, 2022. What if you began to amortize R&E expenses in 2022, 2023 and/or 2024? You can deduct the remaining amount on your 2025 return or split it between your 2025 and 2026 returns, rather than continuing to amortize over what remains of the five-year period. Contact us at (423) 842-1122 with questions.

10/29/2025

Running a business is challenging. Managing the finances of your business doesn’t have to be. From bookkeeping and accounting to tax planning and business advisory, we provide comprehensive services designed to keep your business on track and winning. Let us handle the numbers so you can focus on what matters most: operating a profitable business. Contact us at (423) 842-1122.

10/28/2025

Did you celebrate your 73rd birthday in 2025? If you have money in an IRA, 401(k), SEP or SIMPLE plan, you must take your first required minimum distribution (RMD) by Dec. 31 (or, potentially, by April 1, 2026). RMDs are annual withdrawals of specified amounts based on your age and the account’s value at the end of the last tax year. For more information about managing retirement income, contact us at (423) 842-1122.

10/27/2025

Fraud often hides in plain sight. Some red flags to watch for include reporting delays, unexplained cash shortages, missing inventory, inconsistent financial reports, duplicate payments and vendors you don’t recognize. You may also notice employees who resist sharing responsibilities, override company policies or avoid taking vacations. Don’t ignore your instincts. We can help investigate financial anomalies, identify weak controls and recover losses. Call us at (423) 842-1122 to strengthen your internal controls and gain peace of mind.

10/24/2025

Individuals with sizable estates can breathe a sigh of relief when it comes to the federal estate tax. Currently, the federal gift and estate tax exemption is $13.99 million for individuals ($27.98 million for married couples). This exemption was scheduled to revert to $5 million (plus inflation adjustments) in 2026. But under the One, Big, Beautiful Bill Act, it has been made permanent. For 2026, the exemption will rise to $15 million ($30 million for married couples) and will be adjusted annually for inflation after that. This much-needed certainty provides planning flexibility and enables affluent families to preserve their wealth across generations. Questions? Contact us at (423) 842-1122.

10/22/2025

Looking to reduce your tax bill and benefit a family member? If you have appreciated or dividend-producing investments, consider transferring them to an adult child in the 0% long-term capital gains tax bracket. Your son or daughter may be able to sell those assets and pay no federal tax on the gains or receive dividends free of federal tax. This strategy can be powerful, but it comes with some fine print. Let’s talk about how it could work in your situation. Contact us at (423) 842-1122.

10/21/2025

Your business can claim a tax credit for qualified expenses paid or incurred when providing child care for employees. Beginning in 2026, the One Big Beautiful Bill Act increases the percentage of qualified expenses that can be taken into account for purposes of claiming the employer-provided child care credit. It also increases the maximum credit. Contact us at (423) 842-1122 with questions.

10/20/2025

Conventional wisdom says your mortgage should retire before you do. If you pay it off, you’ll enjoy a lower cost of living — not to mention the psychological boost of owning your home! But if mortgage interest provides an income tax advantage or you need to prioritize paying off other, high-interest debt, you may want to hold on to your mortgage. Contact us at (423) 842-1122. We can help you weigh the pros and cons.

10/17/2025

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big, Beautiful Bill Act (OBBBA), the tax break got better for some parents. For 2025, the maximum adoption credit is $17,280 of qualified expenses, with phaseouts for higher-income parents. Under prior law, the credit was nonrefundable, meaning that it was limited to the taxpayer’s federal tax liability. However, under the OBBBA, up to $5,000 of the adoption credit is refundable, starting in 2025. After 2025, the refundable amount will be indexed for inflation. Any nonrefundable amount can be carried forward. There may also be state tax benefits. Questions? Contact us at (423) 842-1122.

10/15/2025

Tax penalties can feel like dragging a ball and chain. They may happen even when you’ve done your best to comply with tax law. Don’t panic. Penalty relief may be available. For example, if you suffered a serious illness, were a victim of a natural disaster, or relied on bad advice from the IRS, you may qualify for penalty abatement. A penalty may arise from actions such as filing late, making a late tax payment or missing a deposit. If you receive an IRS notice that you think is incorrect or unjust, you don’t have to tackle it alone. Contact us at (423) 842-1122 for help with this matter.

Address

6140 Dayton Boulevard
Hixson, TN
37343

Telephone

+14238421122

Website

https://rollinsandrollinscpas.com/

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