For small business owners, February isn’t just the run-up to Valentine’s Day — it’s the starting gun for one of the most consequential stretches of the financial calendar.
The 2026 tax filing season is fully underway, and with major new legislation reshaping the rules of the game, partnering with Catalyst CPA has never been more vital to file strategically.
Essential Takeaways
- Critical deadlines for S-Corps and partnerships arrive by March 17, 2026.
- The OBBBA Act permanently restores 100% bonus depreciation for eligible assets.
- Strategic filing can save thousands in tax liability this year.
Critical Deadlines for the 2026 Tax Filing Season
Before diving into deductions and strategy, let’s anchor to the calendar. The tax season has already kicked off, and several key dates have passed or are imminent.
The Deadlines You Need to Mark Right Now
February 2, 2026 — W-2s and 1099s Due
Because January 31 fell on a Saturday, the IRS guidelines extended the deadline to the next business day. If you have employees, Copy A of Form W-2 must be filed with the Social Security Administration (SSA).
March 17, 2026 — Partnerships and S-Corporations
This is the big one for pass-through entities. Because March 15 falls on a Sunday in 2026, the deadline shifts to Monday, March 17. This applies to Form 1065 (Partnership returns) and Form 1120-S (S-Corporation returns).
Critical Alert: Missing the March 17 deadline without filing an extension can cost you dearly. Penalties can reach $245 per shareholder per month.
April 15, 2026 — C-Corporations, Sole Proprietors, and Individuals
This deadline covers Form 1120, Schedule C filers, and Form 1040. Remember, filing an extension gives you more time to file, not more time to pay.
Major Law Changes Affecting the 2026 Tax Filing Season
The passage of the One Big Beautiful Bill Act (OBBBA) dramatically reshapes the tax landscape. Here is what changed and what it means in dollars and cents for your business consulting needs.
1. 100% Bonus Depreciation Is Back — Permanently
The OBBBA reversed course entirely. 100% bonus depreciation has been restored and made permanent, effective for qualifying property placed in service beginning in early 2025.
2. Section 179 Expensing Limit Doubled
The OBBBA raised the expensing limit from $1.25 million to $2.5 million. For the 2026 tax year, the Section 179 limit increases further to $2,560,000 with inflation adjustments.
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3. The 20% QBI Deduction Is Now Permanent
The OBBBA made the Qualified Business Income (QBI) deduction permanent. Starting in 2026, it expanded eligibility by raising the phase-out income thresholds for pass-through business owners.
8 Commonly Overlooked Deductions to Claim
Beyond the headline law changes, many small business owners leave money on the table. Our tax preparation services team recommends checking these eight items.
- Home Office Deduction: Deduct $5 per square foot or actual expenses.
- Vehicle Mileage: The 2025 rate is 70 cents per mile.
- Professional Development: Courses and workshops are fully deductible.
- Retirement Contributions: Reduce taxable income while building wealth.
- Business Insurance: Liability and property premiums are deductible.
- SaaS Subscriptions: Cloud-based software costs are ordinary expenses.
- Marketing Costs: Website design and advertising are 100% deductible.
- Childcare Credit: Enhanced credit of 40-50% for employer-provided care.
5 Strategic Steps for the 2026 Tax Filing Season
With the deadline approaching, here is your actionable checklist to ensure a smooth Moreno Valley accountant experience.
- Gather all financial records, including P&L and receipts.
- Identify asset purchases placed in service during 2025.
- Document your home office measurements and vehicle mileage.
- Evaluate whether to extend your filing deadline.
- Schedule your CPA meeting now to beat the rush.
Frequently Asked Questions About the 2026 Tax Filing Season
When are S-Corp taxes due in 2026?
For the 2026 tax filing season, S-Corp returns (Form 1120-S) are due on March 17, 2026, because the standard March 15 deadline falls on a Sunday.
How does OBBBA affect my 2025 tax return?
The OBBBA permanently restores 100% bonus depreciation and doubles Section 179 limits, allowing significant deductions for assets purchased in 2025.
Can a Riverside County CPA help with extensions?
Absolutely. A qualified CPA Moreno Valley expert can help you file Form 7004 or 4868 to secure more time to file your return correctly.
Ready to Revolutionize Your Financial Future?
Discover how Catalyst CPA transforms businesses like yours during the 2026 tax filing season.
About Catalyst CPA
We’re the catalyst for your financial transformation. As a leading Riverside County CPA firm serving the Inland Empire, our certified experts deliver personalized strategies that drive measurable results.
Important Notice: Information only — not tax, accounting, or legal advice. Rules change and facts matter. Talk to a qualified professional before acting. Reading this post doesn’t create a CPA–client relationship. Review our Terms of Service for complete details.
