01/28/2026
A few tax changes you can expect when filing your 2025 tax returns:
1- You may qualify for a deduction for part of overtime earned. For example, if you earned $15,000 in overtime wages during 2025, you may qualify to deduct $5000 of those earnings from your income. Like all tax deductions, it is subject to limits and rules.  So in otherwords make sure to save your last paystub that will show your overtime hours. Your W-2 WILL NOT show this information. Your preparer will use this stub to determine the correct deduction for your situation.
2 - Individuals age 65 and older may qualify for a deduction of $6,000 each on their returns You DO NOT need to be drawing your social security to receive this deduction.
3- Many tipped employees will be able to deduct up to $25,000 in tips earned from their taxable income. This deduction will not apply to the owners of a business.
4- You will not have to itemize deductions (file the “long form”) to get credit for some of your contributions. For the upcoming (2026) tax season, you can take a deduction of up to $2,000 on a married return without itemizing.
These are only a few of the changes that will affect the more common tax returns. New guidance and interpretations of the new tax bill are still being updated daily.
We are looking forward to seeing you soon!
