Cts4taxes-Rdg

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.*

07/14/2026

Higher fuel prices prompted the IRS to raise the business, medical, and qualified moving rates for mileage on or after July 1, 2026.

07/13/2026

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07/09/2026

Good news! Some automatic penalty relief is here. Replacing the First Time Abatement.

The new process will replace First Time Abate and allow the IRS to provide certain penalty relief during return processing without requiring taxpayers to ask for it.

07/08/2026

Starting today through Friday, grab this breakfast special! 🥯

Our ✨Triple Play Sandwhich✨ which includes bacon, egg, sausage, cheddar cheese, tomatoe and arugula in a delicious everything bagel with a side of fruit 😎

If this don’t make your mouth water, I don’t know what will 🤤

$16 special! Don’t miss out as it is only a special for this week 😉

Come grab during our breakfast hours, 7am-11am or take it to go! We will see you soon 🙌🏽

07/08/2026

If you're sending your child to a summer day camp, you may be eligible to claim the cost through the Child and Dependent Care Credit. Learn more from the : www.irs.gov/dependentcare

07/06/2026

Your future isn’t built in breakthrough moments. It’s shaped in the quiet, ordinary choices no one claps for. The ones where you show up. Say no. Stick to your values.

Growth looks like consistency, not just intensity. And that’s really good news, because it means you can start today… right now.

06/30/2026

It’s different. Keep going.