If you are age 65 or older, there is a new tax deduction that may help reduce your taxable income on your 2025 tax return (the return you file in 2026). The IRS has announced that eligible seniors may be able to claim an additional $6,000 deduction per person. If you are married filing jointly […]
New 65+ Senior Deduction for 2025 Tax Returns: What You Need to Know Read More »
This update is written for clients who want to maximize retirement savings and avoid common IRA/Roth IRA mistakes. It highlights what applies to 2025 contributions (made in 2025 and up to the tax filing deadline) and what is already updated for 2026. 1) 2025 IRA contribution limits (Traditional + Roth) For tax year 2025, the
IRA & Roth IRA Updates for the 2025 Tax Season (and What’s Changing for 2026) Read More »
Many families bought little crypto, used apps like Robinhood/Coinbase, or received small rewards. The key is this: the IRS can treat many crypto actions like selling property, so taxes can apply even without “cashing out.” Common taxable situations • Sold crypto for cash• Traded one coin for another• Used crypto to buy something (even a
Digital Assets & Taxes for Families Read More »
