Author: taxguru
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2026 401(k) Limits Just Jumped to $24,500 – Are You Missing Out on Free Tax Savings?
The IRS bumped employee contributions to $24,500 (plus bigger catch-ups for 50+). Maxing this could slash your tax bill by thousands – but only if you act now in January. As we dive into 2026, the IRS has delivered some welcome news for retirement savers: higher contribution limits for 401(k)s, IRAs, and other plans. These…
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2026 Tax Changes: Will the New Standard Deduction Save You Thousands or Leave You Short?
Happy New Year! As we kick off 2026, major tax updates from the IRS inflation adjustments and the One Big Beautiful Bill Act (OBBBA) are now in effect. The headline change? The standard deduction has jumped significantly, potentially putting more money back in your pocket. But is it a game-changer for everyone—or could it fall…
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2026 Tax Changes: How Much More Money Will You Keep This Year?
As we ring in 2026, major updates to the U.S. tax code are kicking in—thanks to IRS inflation adjustments and key provisions from the One Big Beautiful Bill Act (OBBBA). These changes could mean bigger paychecks, larger refunds, and more opportunities to save on taxes. But are you positioned to take full advantage? The standard…
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EV Tax Credits Vanished in 2026? Here’s How to Still Score Big Savings on Your Electric Ride
As we close out 2025 and stare down the barrel of a new tax year, the electric vehicle (EV) landscape has taken a dramatic turn. The federal tax credits that once sweetened the deal on EVs—up to $7,500 for new models and $4,000 for used—officially expired on September 30, 2025, thanks to the One Big…
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No Tax on Tips in 2026: Will You Actually Get a Bigger Refund This Year?
One of the most talked-about changes from the One Big Beautiful Bill Act (OBBBA) is the new above-the-line deduction for qualified tips (up to $25,000) and overtime premium pay. For millions of service industry workers, bartenders, drivers, and hourly employees, this could mean real money back in their pockets when filing 2025 taxes in early…
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5 Year-End Tax Moves to Slash Your 2025 Bill Before 2026 Hits
As 2025 draws to a close, the clock is ticking on opportunities to reduce your tax liability for the year. With just days left before December 31, smart, actionable strategies can still make a significant difference—potentially saving you hundreds or even thousands on your 2025 taxes. Thanks to the One Big Beautiful Bill Act (OBBBA),…
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Last-Minute 2025 Tax Moves That Could Save You Thousands Before December 31 – Don’t Miss Out!
What if you could slash your 2025 tax bill by $5,000 or more in just the next few days? With only hours left until the calendar flips to 2026, there are still powerful, legal strategies you can use right now to lower your taxable income and boost your potential refund next year. Thanks to the…
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Last Chance: 7 Green Energy Tax Credits Vanishing After December 31, 2025 – Claim Them Now or Lose Thousands Forever
With just days left in 2025, time is running out to claim some of the most generous federal tax credits for green home upgrades and clean energy investments. Thanks to the One Big Beautiful Bill Act signed into law earlier this year, many popular incentives—including those for solar panels, energy-efficient windows, heat pumps, and even…
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Why 2025 Is the Best Year in Decades for Charitable Giving: 5 Strategies to Maximize Deductions Before Dec 31
As the holiday season reaches its peak, many of us feel that familiar pull to give back. Whether it’s writing a check to a favorite nonprofit, dropping toys in a donation bin, or tipping service workers extra generously, December is traditionally the month of giving. But this year is different. Thanks to provisions in the…
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Maximizing Your Home Office Deduction for 2025: Key Rules and Strategies for Self-Employed Workers
With tax season just around the corner on this December 23, 2025, many freelancers, gig workers, and small business owners are reviewing their deductions to minimize what they owe. One of the most powerful—and often underutilized—tax breaks for those working from home is the home office deduction. If you qualify, this can significantly reduce your…