Tag: Individual Tax

If you’re married, you have a choice when filing your 2025 federal tax income: Filing joint or filing separately. What filing status as a married couple you choose will affect

You could potentially deduct donations you made last year to qualified charities if you itemize deductions on your 2025 individual income tax return. However, your gifts must be in accordance

The One Big Beautiful Bill Act created a new tax advantaged way to help children build up savings for the future: Trump Accounts (TA). For U.S. citizen children born between

On January 26, the IRS is opening the filing season for 2025 individual income tax returns. Although IRS staffing has been significantly reduced since last year, this is about the

You may be wondering, if you had significant expenses last year, what medical expenses are deductible on your 2025 income tax return. It can be difficult to claim the medical

Severe storms, flooding, wildfires, and other disasters affect millions of taxpayers every year. Across the country, taxpayers experience casualty loss as a result of damage to their homes or personal

Typically, many tax figures are annually adjusted to account for inflation, meaning they often increase from year to year, or at least every few years. Under the One Big Beautiful

There’s a tax-advantaged savings option for individuals with disabilities that’s similar to a Section 529 college savings plan. Achieving a Better Life Experience (ABLE) accounts allow eligible beneficiaries to save

Individuals who itemize deductions and donate to charity will face a new limit beginning in 2026 on their charitable deductions. In some cases, they’ll even face two new limits. However,

You likely have a lot on your plate this time of year – from holiday shopping, to donating to your favorite charities, and planning get togethers with family and friends.