Tax Changes to Know for the 2025 Filing Season As we approach the 2025 tax season, several key changes are set to impact taxpayers. Here’s what you need to know: 📈 Increased Standard Deductions The IRS has raised standard deductions for 2025: Married Filing Jointly: $30,000 (up $800) Single Filers:
What to Do If You Get a Tax Notice from the IRS Receiving a tax notice from the IRS can be nerve-wracking, but it’s important to stay calm and take the right steps. Here’s what you need to do if you get a letter or notice from the IRS: 1.
Should You File for a Tax Extension? Pros and Cons Need more time to file your taxes? A tax extension could give you the breathing room you need, but it’s not always the best choice. Here’s a breakdown of the pros and cons to help you decide if filing for
American Opportunity Credit vs. Lifetime Learning Credit -What’s the Difference? Maximize Your Education Tax Benefits by Choosing the Right Credit If you’re paying for higher education, you might be eligible for tax credits that reduce your tax bill—possibly by thousands. The two most common are the American Opportunity Credit (AOC)
