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
Claiming the Standard Deduction vs. Itemizing: Which Is Better? When filing your taxes, you have two main choices for reducing your taxable income: claiming the standard deduction or itemizing your deductions. Here’s a quick breakdown to help you decide which is best for you! 1. What’s the Standard Deduction? 🏠
Quarterly Taxes Explained (for Side Hustlers & Freelancers) Got a side hustle or freelance gig? You’re technically your own boss—which means the IRS expects you to pay taxes throughout the year, not just in April. Enter: quarterly estimated taxes. Here’s what you need to know: 💡 What Are Quarterly Taxes?Instead
How to Prepare for Next Year’s Taxes Starting Today Tax season might feel far away, but the smartest way to avoid stress—and potentially save money—is to start preparing now. Here’s how to get a head start on next year’s return 1. 🧾 Organize Your Tax Documents EarlyCreate a folder (physical
Tax Planning Tips Before the End of the Year The end of the year is more than holiday shopping and New Year’s resolutions—it’s your last chance to reduce your tax bill before filing season begins. Here are some smart, simple moves to make before December 31st. 1. 💰 Max Out
What to Expect This Tax Season: 2025 Tax Changes You Should Know As you prepare to file your 2024 taxes in early 2025, it’s important to stay on top of the latest IRS updates. Whether you’re a salaried employee, freelancer, or investor, here are some key changes that could affect
Last-Minute Tax Filing Tips Before the Deadline The tax deadline is fast approaching, and you’re feeling the crunch! Don’t worry—here are some quick, last-minute tips to help you file your taxes on time and avoid penalties. 1. Gather Your Documents Fast 📄 Make sure you have everything you need: W-2s
What to Expect This Tax Season: 2025 Tax Changes You Should Know Tax season is upon us, and with it come several important updates that could impact your filing. Here’s what you need to know about the 2025 tax year changes: 💵 Increased Standard Deductions The IRS has raised standard
