As we move into the heart of tax season, many taxpayers are asking: “Do the new OBBB tax law changes affect my 2025 tax return?” If your tax year ended December 31, 2025, the answer is: 👉 Some changes may apply now — and others make this year critically important for planning. The OBBB isn’t […]
Buying a new car just became a little more tax-friendly. Under the One Big Beautiful Bill Act (OBBBA), taxpayers may be able to deduct up to $10,000 per year in interest paid on certain loans for new, U.S.-assembled passenger vehicles purchased between 2025 and 2028. This is an “above-the-line” deduction, meaning you can claim it […]
If you earn tips at work, a new federal tax law may significantly reduce your tax bill — but only if your tips qualify and are reported correctly. The One Big Beautiful Bill Act (OBBBA) of 2025 created a temporary qualified tips tax deduction for tax years 2025 through 2028. While the deduction sounds simple, […]
If you earned overtime pay, a new federal tax law may reduce your tax bill — but only if it’s calculated correctly. The One Big Beautiful Bill Act (OBBBA) introduced a temporary overtime tax deduction for tax years 2025 through 2028. While the opportunity is real, the rules are technical and often misunderstood. Many taxpayers […]
✅ Retirement Income & Accounts ☐ Review RMD calculations and withdrawals ☐ Confirm correct withholding on distributions ☐ Evaluate Roth conversions completed in 2025 ☐ Check for Medicare premium increases tied to income Improper coordination can reduce Georgia retirement income exclusions — review withdrawals and conversions together. Utah retirees should focus on smoothing income across […]
✅ Charitable Giving ☐ Confirm donation receipts meet IRS substantiation rules ☐ Verify donation dates fall within 2025 ☐ Review whether itemizing actually produced a tax benefit ☐ Evaluate whether donation bunching would improve future results – Federal deduction limitations can indirectly reduce the value of charitable giving for Georgia taxpayers – Because Utah closely […]
✅ Income Review ☐ Gather all 2025 income documents (W-2s, 1099s, K-1s, retirement statements) ☐ Identify one-time or unusual income (bonuses, asset sales, distributions) ☐ Confirm income matches what was expected during the year ☐ Note any income spikes that may trigger phaseouts or higher Medicare costs Georgia offers certain retirement income exclusions, but timing […]
