Key TakeawaysBring valid government photo IDs and Social Security cards (or ITINs) for every person listed on your return to verify identities and prevent fraud. Collect all W-2s and 1099s, including the new Form 1099-DA for any digital asset or...
Key TakeawaysThe Child Tax Credit is up to $2,200 per child, with up to $1,700 available as a refundable payment even if you owe no taxes. Adoptive parents can now claim a credit of up to $17,280, with up to $5,000 of that amount now fully refundable. If you...
Key TakeawaysTax rates didn’t change, but brackets and deductions did. Inflation adjustments mean more income is taxed at lower rates. The SALT deduction cap jumped to $40,400, making itemizing relevant again for many households. New deductions for...
Disclaimer: This content is provided for general educational purposes and does not constitute individualized tax advice. Tax planning strategies should be evaluated based on your specific circumstances in consultation with a qualified tax professional. Key...
Key TakeawaysGetting organized early helps prevent missing income documents and IRS matching issues later. January is the best time to check withholding and estimated tax payments for the year ahead. Contribution limits for retirement and...
