Cts4taxes-Rdg

08/08/2026

Love this!

One of the hardest beliefs to untangle is the idea that honesty is what hurts relationships.

I don’t think that’s what most of us are actually afraid of.

I think we’re afraid of what honesty might reveal.

A healthy relationship can survive a hard conversation. It might even grow because of it.

But if telling the truth is consistently punished, dismissed, or turned back on you, the problem usually isn’t the truth.

It’s the dynamic.

Jesus never avoided truth to keep people comfortable. He was full of grace and truth.

Healthy relationships make room for both.

“Instead, we will speak the truth in love, growing in every way more and more like Christ…” — Ephesians 4:15

08/08/2026

$2200 per child for 2026 CTC but AGI limits apply. Make over 400k for married filing joint? You may not qualify!

08/01/2026

The IRS has released the Applicable Federal Rates (AFRs) for August 2026. These rates change monthly and serve as the IRS's minimum interest rates for many private loans and financing arrangements.

If you're lending money to a family member, financing the sale of a home or business, or structuring an installment sale, the AFR may determine the minimum interest rate you should charge to avoid unintended tax consequences.

07/26/2026

: A significant win for taxpayers, the IRS is implementing the Automatic Exemption from Penalty (AEP) program. This change means eligible taxpayers will no longer need to request first-time penalty relief; it will be provided automatically.

Key Highlights:
• AEP will reduce the burden on taxpayers, especially those who are low-income or unable to afford representation.
• The IRS will automatically identify eligible taxpayers and suppress certain penalties, making the process more efficient and fair.
• This change is expected to benefit hundreds of thousands of taxpayers who previously missed out on relief due to lack of awareness or access.

The AEP program is a major step forward in modernizing tax administration, ensuring that relief is accessible to all, regardless of their ability to navigate the IRS system. As we celebrate this achievement, we also urge the IRS to preserve reasonable cause relief to ensure that taxpayers receive the most appropriate assistance based on their unique circumstances. For more details on how AEP will work and what it means for you, read the full blog post here: https://ow.ly/HGfx50ZqROS

Together, we can make tax administration more efficient and equitable!

07/21/2026

What happens if you receive a notice that the changed your tax return and you don't agree? The Taxpayer Bill of Rights (TBOR) has you covered. You have the right to challenge the IRS's position and be heard. We explain what that means to you in the latest IRS tax tip.

Learn more about TBOR at https://ow.ly/cAqs50ZnusL.

07/18/2026

💰 Gifts, inheritances, and life insurance proceeds are never taxable income to the person who receives them, no matter the amount.

The $19,000 annual gift exclusion is a filing requirement for the giver, not a tax on you as the recipient.

Inherited traditional IRAs are the exception inside that rule: the account passes to you tax-free, but every withdrawal is taxed as ordinary income, while an inherited Roth that met the 5-year rule usually is not.

Qualified tips and overtime pay are federal income tax deductions through 2028, not full exclusions, so Social Security and Medicare taxes are still withheld and your state may still tax the income.

Home sale gains skip tax up to $250,000 for single filers or $500,000 for married couples, as long as you lived there 2 of the last 5 years.

Long-term capital gains can be taxed at 0% when your taxable income stays under $49,450 single or $98,900 married filing jointly in 2026.

VA disability benefits and workers' comp are excluded from federal income tax regardless of the amount.

Which of these surprised you the most?



*The content shared here is for educational and informational purposes only. It is not personalized investment, tax, legal, or financial advice. Consult a licensed professional before making decisions based on your specific situation.*