#taxdeductions — Public Fediverse posts

6 Small Business Taxes vs 2025 Rules - Which Saves

Discover which 2025 small business tax rule saves the most, with deadlines, Shopify compliance tips, and deduction strategies for the new IRS schedule.

https://taxdeductions.help/6-small-business-taxes-vs-2025-rules-which-saves/

#taxfiling #taxdeductions #irsupdates #smallbusinesstaxes #taxplanning

7 Small Business Taxes Deadlines You’re Ignoring

Discover the 7 critical small business tax deadlines for 2026, avoid penalties, and learn how to set reminders for payroll, withholding, and estimated taxes.

https://taxseason.site/7-small-business-tax-deadlines-youre-ignoring/

#taxfiling #taxdeductions #irsupdates #smallbusinesstaxes #taxplanning

15% Menu Drop From Small Business Taxes Vs Oregon

Explore how Seattle's living wage tax pressures street vendors, the tax gap with Oregon, and practical filing tips for small businesses.

https://taxplanner.online/15-percent-menu-drop-from-small-business-taxes-vs/

#taxfiling #taxdeductions #irsupdates #smallbusinesstaxes #taxplanning

5 Small Business Taxes Tricks vs Common Mistakes

Discover hidden tax deductions for food trucks, SBA micro‑loan benefits, and precise tax cuts to slash your quarterly bill by up to 30% this season.

https://taxfilingnow.online/5-small-business-tax-tricks-vs-common-mistakes/

#taxfiling #taxdeductions #irsupdates #smallbusinesstaxes #taxplanning

TurboTax vs QuickBooks Slash Small Business Taxes Fees 30%

Compare TurboTax and QuickBooks for small business tax filing. Learn which tool saves up to 30% on fees, maximizes deductions, and streamlines quarterly payments.

https://taxseason.site/turbotax-vs-quickbooks-slash-small-business-taxes/

#taxfiling #taxdeductions #irsupdates #smallbusinesstaxes #taxplanning

Avoid 25% Penalties Early vs Late Small Business Taxes

Learn how freelancers and small business owners can avoid up to 25% penalties by meeting the 2026 estimated tax deadlines, optimizing payments, and maximizing

https://taxplanner.online/avoid-25-percent-penalties-early-vs-late-small-bus/

#taxfiling #taxdeductions #irsupdates #smallbusinesstaxes #taxplanning

9 Tax Deductions Middle Class Retirees Shouldn’t Miss in 2026 – AOL

9 Tax Deductions Middle Class Retirees Shouldn’t Miss in 2026

By Stacy Garrels, Sun, January 25, 2026 at 9:08 AM PST

Tax season can feel a lot different once you’ve retired. You’re no longer tracking multiple W-2s or trying to squeeze in last-minute business expenses, but that doesn’t mean your taxes automatically get any easier.

Many middle-class retirees navigate multiple income sources, pay rising Medicare premiums, and assume certain deductions no longer apply once they stop working full-time.

Yet some of the most valuable tax breaks available in retirement are either new, misunderstood, or commonly overlooked. You can avoid retirement mistakes by keeping these key tax deductions on your radar for 2026.

Find Out: 14 benefits seniors are entitled to but often forget to claim

1. New senior deduction for those 65+

If you’re 65 or older, a new temporary senior deduction may reduce your taxable income. For retirees within certain income brackets, this deduction allows you to exclude up to $6,000 from taxable income between 2025 and 2028.

This deduction is separate from the standard deduction, which means eligible retirees could further lower their taxable income without having to itemize. Although not all income levels will qualify, it’s a meaningful benefit that’s worth checking into before you file.

Who really has the cheapest auto insurance in your area? Check your zip code here.

2. Using HSA funds for Medicare premiums

Health Savings Accounts (HSAs) don’t lose their value once you retire. If you’ve built up an HSA balance, you can continue using those funds tax-free for qualified medical expenses, which include your Medicare premiums.

Part B premiums alone can run over $200 a month for most retirees. Paying those costs from an HSA instead of taxable income can stretch your retirement dollars further and reduce overall tax burden.

3. Family gifting within annual limits

Most retirees won’t face the federal estate tax, but gifting rules can still play a role in tax planning for you and your loved ones. Each year, you can give up to the annual gift exclusion amount to as many people as you want without triggering gift taxes or filing additional paperwork.

Continue/Read Original Article Here: 9 Tax Deductions Middle Class Retirees Shouldn’t Miss in 2026 – AOL

Gizmodo: As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year. “The change, which was part of the Republican-authored and Donald Trump-supported One Big Beautiful Bill signed into law this summer, will impose a tax cap that limits gambling loss deductions to 90% of winnings, down from 100% in previous years. That will go into effect for 2026 income. So while it won’t […]

Gizmodo: As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year. “The change, which was part of the Republican-authored and Donald Trump-supported One Big Beautiful Bill signed into law this summer, will impose a tax cap that limits gambling loss deductions to 90% of winnings, down from 100% in previous years. That will go into effect for 2026 income. So while it won’t […]

Forgot to declare tax-saving deductions to your employer? Filing a belated ITR may still help you claim them and get a refund. Here’s what experts say before the December 31 deadline. https://english.mathrubhumi.com/news/money/claim-itr-deductions-belated-return-deadline-oeslopmd?utm_source=dlvr.it&utm_medium=mastodon #IncomeTax #BelatedITR #TaxDeductions #PersonalFinance #TaxFiling

Maruti Suzuki sees a huge jump in small car sales after GST tax reduction makes them more affordable. Discover how this impacts the Indian auto market. https://english.mathrubhumi.com/auto/maruti-suzuki-small-car-sales-gst-boost-c8shmwma?utm_source=dlvr.it&utm_medium=mastodon #MarutiSuzuki #GST #TaxDeductions #profit

12 of the most #bizarre #taxdeductions that are actually legal

https://www.simplemost.com/unusual-tax-deductions-you-can-file-for/

12 of the most #bizarre #taxdeductions that are actually legal

https://www.simplemost.com/unusual-tax-deductions-you-can-file-for/

That spending would be more than offset by dramatically increasing taxes on the wealthiest individuals & corporations, the WH said. #Biden’s #budget would increase the minimum tax on billion-dollar corporations to 21% from 15%. It would raise taxes on US multinationals’ foreign income to 21% from 10.5%, & eliminate some #TaxDeductions for executive compensation.

#EconomicPolicy #economy #law #POTUS #healthcare #ChildCare #housing #NationalDebt #SocialPrograms

That spending would be more than offset by dramatically increasing taxes on the wealthiest individuals & corporations, the WH said. #Biden’s #budget would increase the minimum tax on billion-dollar corporations to 21% from 15%. It would raise taxes on US multinationals’ foreign income to 21% from 10.5%, & eliminate some #TaxDeductions for executive compensation.

#EconomicPolicy #economy #law #POTUS #healthcare #ChildCare #housing #NationalDebt #SocialPrograms

#IRS Raises Income #TaxDeductions to Account for #Inflation;
Standard #deductions for 2024 will be 5.4% bigger, as will the thresholds for each #incometax bracket

https://themessenger.com/business/irs-raises-income-tax-brackets-5-4-percent-inflation-adjustment

#IRS Raises Income #TaxDeductions to Account for #Inflation;
Standard #deductions for 2024 will be 5.4% bigger, as will the thresholds for each #incometax bracket

https://themessenger.com/business/irs-raises-income-tax-brackets-5-4-percent-inflation-adjustment

ATO ends special COVID working-from-home tax deduction

#COVID19Aus #WFH #TaxDeductions

Source: https://www.afr.com/wealth/tax/ato-ends-special-covid-working-from-home-tax-deduction-20230216-p5cl5v

ATO ends special COVID working-from-home tax deduction

#COVID19Aus #WFH #TaxDeductions

Source: https://www.afr.com/wealth/tax/ato-ends-special-covid-working-from-home-tax-deduction-20230216-p5cl5v