GoalFusion Tax Consulting

07/18/2025

🚨 Major Tax Law Changes Passed! (OBBBA – 2025) 🇺🇸
Big updates from the “One Big Beautiful Bill,” signed into law on July 4, 2025. Here are the highlights every taxpayer should know:

🧾 Standard Deduction & Brackets
Tax brackets expanded & standard deductions increased—more take-home pay for many.

🏡 State and Local Tax (SALT) Deduction Raised
Deduction limit jumps from $10K → $40K (huge for high-property-tax states like TX!).

🚘 Auto Loan Interest Now Deductible
Buy a U.S.-assembled car between 2025–2028? You can deduct up to $10K in interest.

👶 Child Tax Credit Increased
Now $2,200 per child under 17 (up from $2,000).

⚡ EV Credit Ends Sept 30, 2025
Planning on going electric? Act fast.

☀️ Solar and Energy Efficiency Credits End 2025
Home upgrades must be installed by Dec 31, 2025 to qualify.

🎉 New ‘Trump Accounts’ for Kids
$1,000 from the government for babies born 2024–2028. Accounts available in 2026.

💵 Tax-Free Tips & Overtime
Deduct up to $25K in tips + $12.5K in overtime (2025–2028, income limits apply).

❤️ Charity Deduction for All
$1,000 ($2,000 joint) cash gift deduction even if you don’t itemize—starting 2026.

🏠 PMI Deduction is Back
Private mortgage insurance will be deductible again (2026+), if you itemize.

📞 Want help planning for these changes? DM us or reach out to schedule a tax planning session.
We’re here to help you make the most of these new rules!

— Jared & the GoalFusion Tax Team

01/12/2024

The IRS has announced that they will begin accepting e-filed 2023 returns January 29th.

Happy tax season!

01/18/2022

You can now order free COVID tests online. Here's how.

The Biden administration on Tuesday quietly launched its website for Americans to request free at-home COVID-19 tests, a day before the site was scheduled to officially go online.

01/11/2022

Tax filing season opens January 24. Deadline to file 2021 taxes or extension is April 18, 2022.

07/03/2021

Interested to see if you will be receiving advance monthly child tax credit payments this July? Read more and check here!

"IRS Updates Child Tax Credit Direct Deposit Portal | GOBankingRates"

Updating is recommended for fast and safe tax credit deposits.

06/16/2021

Thank you to our clients and friends for another great tax season. Have a prosperous year!

05/10/2021

"Forget the child tax credit. You can get $16k back in child care expenses if you start now - CNET"

Paying for day care, after-school programs or more? We'll tell you how to get thousands back from the new tax child care credit, but you have to start this year.

04/28/2021

This week we are focusing on helping a teacher who is in need after her classroom flooded in February due to the Texas Snowpocalypse. She is a first grade teacher at a Title I school in Pflugerville. Her school had over $500k in damage from frozen pipes bursting. Are you in a position to help? If so, here is the list she gave us on what she needs. Please let us know and we can come pick up the below items:

Games (can be purchased anywhere including Amazon):
• Scrabble Junior
• Sum Swamp – Addition and Subtraction Game
• Connect Four
• Perfection
• Zingo! Sight words
• Sight Word Swat

Cash donations will also be accepted to purchase the below from a local teacher’s store. Please reach out to us if you wish to give monetarily.
• Privacy Partitions, set of 10, need 2 sets - $24.99 each
• Zingo Bingo # Game – price unknown
• Create-a-chain Reaction STEM Kit Prek-2nd starter kit $49.99
• Gift card to Lakeshore Learning in Austin or Barnes & Nobles – Any amount

04/27/2021

Here is a great way to save some money on your auto insurance.

But some insurers are already raising premiums, suggesting time may be running out.

03/12/2021

President Biden signed into law the third round of COVID-19 financial aid. As part of the new law, any unemployment benefits up to $10,200 paid during 2020 can now be excluded from your federal taxable income for households that made less than $150,000 in 2020.

If you have already filed your 2020 taxes and had unemployment income:
You will most likely want to file an amended return to claim a refund for the taxes paid on your unemployment benefits.

If you have NOT yet filed your 2020 taxes:
You may want consider waiting to file until the IRS has updated their systems to exclude the $10,200 in unemployment benefits from your taxable income.

As always, everyone's tax situation is unique so please reach out to us if you have any questions about your particular tax situation.

02/23/2021

Texas residents have been given an extra two months to file and pay their federal taxes. Taxes are now due June 15, 2021.