Category: Tax Planning
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2025 Child Tax Credit: Boosted to $2,200 Per Child – What Parents Need to Know Now
As we wrap up 2025, families across the U.S. are eyeing their tax returns with anticipation. One of the most valuable perks for parents? The Child Tax Credit (CTC). This year, thanks to recent legislative tweaks, it’s even more generous—but are you positioned to claim the full amount? Imagine slashing your tax bill by thousands…
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Crypto Tax Reporting in 2025 – New IRS Rules, Cost Basis Challenges, and Year-End Strategies
As cryptocurrency adoption surges into mainstream finance, the IRS has ramped up enforcement for 2025 reporting. With digital assets now firmly in the tax crosshairs, many holders face new Form 1099-DA requirements starting this year. If you’ve traded, staked, or even airdropped tokens in 2025, understanding these rules isn’t optional—it’s essential to avoid audits and…
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7 Last-Minute Year-End Tax Moves to Slash Your 2025 Bill Before December 31 – Are You Missing Out on Thousands?
As 2025 draws to a close, the clock is ticking on powerful tax-saving opportunities under the current rules shaped by the One Big Beautiful Bill Act (OBBBA). With potential shifts looming in 2026—such as new limits on charitable deductions and changes to certain credits—acting now could save you thousands in taxes. These strategies are especially…
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No Tax on Overtime in 2026? The Truth Behind This Temporary Tax Break and How to Maximize It
As 2025 winds down, millions of hourly workers are buzzing about one of the hottest provisions from the One Big Beautiful Bill Act (OBBBA): the deduction for overtime pay. Often called “no tax on overtime,” this new rule lets eligible workers deduct up to $12,500 of qualified overtime income from their taxable earnings for tax…
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Do You Really Need an LLC? Tax Pros and Cons Explained
Starting a business often comes with one big question: Do you actually need an LLC? While forming an LLC can offer tax and legal advantages, it isn’t required for every individual or small business. Understanding the pros and cons can help you decide whether an LLC makes sense for your situation. What Is an LLC?…
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Top Tax Deductions for Freelancers: The Ultimate 2025 Guide
Freelancers face a unique tax situation: you’re responsible for your own income tracking, quarterly taxes, and deductions. The good news? Freelancers also have access to powerful tax deductions that can significantly reduce taxable income — if you know what to claim. This guide breaks down the most important tax deductions every freelancer should know for…
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Navigate Taxes with Confidence: Resources from Tax Guide Daily
Taxes can be overwhelming, especially for freelancers, small business owners, and busy individuals trying to navigate deductions, filing requirements, and changing regulations. At Tax Guide Daily, our mission is simple: to make taxes clear, actionable, and stress-free. Whether you’re filing for the first time, managing multiple income streams, or looking for ways to maximize deductions,…