Tag: Individual Tax

April 15, 2026 is the 2025 federal income tax return due date, but that’s not the only item with the April 15 deadline. If you don’t catch it, you could

Generally, for federal tax purposes, personal interest expense can’t be deducted, but there are exceptions. These four types of deductible interest expenses are discussed below; one of which was created

When you raise a family, you are met with many different expenses. But, it also makes you eligible for different tax breaks. The most valuable of these are dependent tax

When filing your individual income tax return, an important consideration is whether to claim the standard deduction of itemize deductions. The One Big Beautiful Bill Act (OBBBA) made change that

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