What is NOT changing Tax Brackets revised in 2018 and set to expire in 2025 are now permanent. Standard Deductions that were increased in 2018 and set to revert lower in 2025 are now permanent. Social Security Benefits are still taxable up to 85% for taxpayers with additional sources of income. (If Social Security is […]

Congress has passed and the president has signed the “big, beautiful bill” (HR 1) which includes many provisions that affect our taxes. I have downloaded the entire text of the bill (870 pages) and analyzed it to help my clients understand the significant impacts of the new law. I have made another post with more details about what […]

The due date for 2024 personal tax returns is Tuesday, April 15, 2025. An extension gives you extra time to file your tax returns without having a late filing penalty, as long as you file before the extended due date. To get an extension, you must request it on or before the regular due date […]

If you are an employee who receives a W-2 from your employer, money is withheld from your paychecks to cover your taxes at the end of the year. If you have withheld enough, then you will not owe any taxes, and you might even get a refund if you have withheld more than the taxes […]