Quadrupled SALT Deduction Limit Means More Taxpayers Will Benefit From Itemizing on Their 2025 Returns

February 26, 2026 / by Brett Hess / Tax

An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill Act (OBBBA) will make it beneficial for more taxpayers to itemize deductions on their 2025 returns. Specifically, if you paid more than $10,000 in state […]

Read more

Before Claiming a Charitable Deduction for 2025, Make Sure You Can Substantiate It

February 19, 2026 / by Brett Hess / Tax

If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated in accordance with IRS requirements. Exactly what’s required depends on various factors. In some cases, you must have a written acknowledgment from the charity. Substantiating cash […]

Read more

There’s Still Time to Set up a SEP and Reduce Your 2025 Taxes

February 3, 2026 / by Brett Hess / Tax

If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving you taxes. Not only is the SEP deadline favorable, but […]

Read more