529 Plan Changes in 2026: Using Funds for Homeschooling and Credentialing Programs
07/01/2026
Starting in 2026, families can tap 529 plan funds for homeschooling supplies, tutoring, and career credentialing programs under the OBBBA. If you have money sitting in a 529 college savings plan, 2026 brings some of the biggest changes to that account since it was created. Thanks to a law known as the One Big Beautiful
QBI Deduction Made Permanent in 2026: What Small Business Owners Need to Know Before Filing in 2027
07/01/2026
Starting with tax year 2026, small business owners can count on the 20% QBI deduction every year — Congress made it permanent. If you run a small business, freelance, or own a piece of an S-corporation or partnership, you have probably heard about the Qualified Business Income deduction, or QBI deduction for short. For years,
New 1099-NEC and 1099-MISC Threshold Change in 2026: What Freelancers and Gig Workers Must Know
07/01/2026
Starting in 2026, freelancers and gig workers will see fewer 1099 forms as the reporting threshold rises to $2,000. If you freelance, drive for a rideshare app, sell on Etsy, or pick up odd jobs on the side, get ready for a lighter stack of tax forms in your mailbox come January 2027. Congress just
2026 Tax Brackets and Income Thresholds: What Every US Taxpayer Must Know Before Filing in 2027
07/01/2026
Understanding the 2026 tax brackets now can help you plan ahead before filing your return in 2027. Every fall, the IRS quietly updates the numbers that decide how much of your paycheck the federal government keeps. For 2026, those numbers matter more than usual because they are the first full set of brackets shaped by
Trump Accounts Explained for Parents: The New Child Savings Account Starting in 2026
07/01/2026
Parents reviewing their child’s new Trump Account savings growth before filing their 2026 tax return in 2027. If you had a baby in 2026, or you’re raising a child under 18, there’s a brand-new savings account you need to know about before you file your taxes next year. It’s called the Trump Account, and it
Car Loan Interest Deduction 2026: How to Deduct Up to $10,000 on Your US-Built Vehicle
07/01/2026
Under the One Big Beautiful Bill Act (OBBBA), eligible Americans can now deduct up to $10,000 in car loan interest on a qualifying US-assembled vehicle — claim it on your 2026 tax return filed in 2027. Tax Year: 2026 | Return Filing Year: 2027 | Law: One Big Beautiful Bill Act (OBBBA), IRC § 163(h)(4)
Schedule 1-A Explained: The Brand-New IRS Form All Taxpayers Must Know for 2026
07/01/2026
Schedule 1-A — the brand-new IRS form for tax year 2025 (filed in 2026) — gives eligible taxpayers a single, dedicated place to claim four new above-the-line deductions created by the One Big Beautiful Bill Act. Published: July 2026 | Reading Time: ~12 minutes | Category: Tax Law & Filing If you worked in a
Comprehensive Guide to No Tax on Tips 2025 — Who Qualifies and How to Claim the $25,000 Deduction for General Taxpayers (2025)
07/01/2026
The new federal income tax deduction for tips can significantly impact your 2025 tax return. For millions of Americans working in service industries, 2025 brings a significant, yet often misunderstood, change to their tax obligations. A new federal income tax deduction for qualified tips is now available. While the phrase “No Tax on Tips” might
No Tax on Overtime 2025 — What the OBBBA Overtime Deduction Means for W-2 Workers
07/01/2026
A W-2 hourly worker reviews the new OBBBA qualified overtime tax deduction for 2025 — eligible workers can reduce their federal taxable income by up to $12,500. If you are an hourly worker who has been putting in long weeks — clocking in early, staying late, and picking up weekend shifts — the federal government
Advanced Strategies: Bonus Depreciation Strategy for 2026 and Beyond Explained
06/30/2026
Strategic financial planning is essential for maximizing tax benefits in 2026. Current Date: 2026-06-30 For corporate and enterprise leaders, the tax situation for 2026 has fundamentally changed. The recent legislative action making 100% bonus depreciation permanent is not merely a technical adjustment; it’s a strategic necessity. Are you positioned to fully use this powerful incentive,