After-tax-day tips
It’s never too early to organize your tax documents With the April 15 tax filing deadline in the rearview mirror, you’re likely to turn your attention to other things. But before you do, it’s in your…
Why Now Is a Good Time to Review Your Withholding
Filing your 2025 federal income tax return can provide valuable insights to help with 2026 tax planning. For example, if you receive a large refund or owe significant taxes for 2025, you can benefit from…
4 Types of Deductible Interest Expense for Individuals
How can you deduct interest expense on your 2025 individual federal income tax return and beyond? Let us count the ways. Although personal interest expense isn’t deductible in general — for example, you can’t deduct…
New provisions for 2026 may affect your tax planning
Tax law changes under the One Big Beautiful Bill Act require you to revisit (and potentially revise) your 2026 tax strategies The many tax-related provisions that went into effect last year after the One Big…
What Parents Need to Know About the Kiddie Tax
If you’re a parent of minor children or of one or more college students, you’re likely thinking about them as you prepare to file your 2025 federal tax return or begin tax planning for 2026.…
Are You Up to Speed on the Auto Loan Interest Deduction?
The One Big Beautiful Bill Act (OBBBA), enacted in the summer of 2025, includes a new temporary federal income tax deduction for auto loan interest. On January 2, 2026, the IRS published in the Federal…
Deducting Personal Theft Losses Will Soon Get a Little Easier
If you’re unlucky enough to suffer a personal theft loss, you may be entitled to a federal income tax deduction. Or you may not. The rules are complex, but there’s some good news: Last year’s…
Are You Ready for the New Roth Catch-Up Contribution Rules?
Catch-up contributions have long been a way for taxpayers to put more dollars into their retirement accounts as they get older. But the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, enacted in…
Guidance on calculating tips and overtime deductions for 2025
The One Big Beautiful Bill Act (OBBBA) creates new income tax deductions for tax years 2025 through 2028 for qualified cash tips and overtime compensation. If you receive tips or overtime pay, you likely have…
Strategies for Saving: Year-End Tax Planning for Individuals
Year end is here, but there’s still time for individual taxpayers to make moves to lower their 2025 tax bills. The One Big Beautiful Bill Act (OBBBA), which became law in July, provides some welcome…