What You Need to Know About Filing an Extension – and Minimizing Penalties
If you don’t have everything ready to complete your federal individual income tax return by the April 15 deadline, you can request an automatic extension. Filing […]
Are Your Eligible for Mileage Deductions?
It’s important to know if you can deduct vehicle-related expenses. A change that was made permanent by last year’s One Big Beautiful Bill Act (OBBBA) limits who can claim a deduction for business mileage. But […]
It’s Your Last Chance to Claim These Clean Energy Tax Breaks
Last year’s One Big Beautiful Bill Act (OBBBA) terminated several clean energy tax incentives earlier than previously scheduled. But if you bought an electric vehicle or […]
4 Types of Interest Expense You May Be Able to Deduct
Personal interest expense generally can’t be deducted for federal tax purposes. There are, however, exceptions. Here are four, one of which is a new break under […]
Parents: Claim all the Tax Credits You’re Entitled To
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax […]
Quadrupled SALT Deduction Limit Means More Taxpayers will Benefit from Itemizing on their 2025 Returns
An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the […]
If You’re Married, Should You File Jointly or Separately?
Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. […]
Before Claiming a Charitable Deduction for 2025, Make Sure You Can Substantiate It
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated […]
How the New Trump Accounts for Children Will Work
A new tax-advantaged way to help children build up savings for the future was created by the One Big Beautiful […]
Tax Filing FAQs for Individuals
The IRS opened the filing season for 2025 individual income tax returns on January 26. This is about the same time […]
