Tipped workers can deduct up to $25,000 of qualified tips on their federal return for 2025 through 2028. Here is who qualifies, what changes on your 2026 W-2, and why California still taxes tips.
No Tax on Tips: How the New Deduction Works for 2026 Read More »
Workers can deduct up to $12,500 ($25,000 joint) of qualified overtime pay on their federal return through 2028. Only the federally required premium counts, 2026 W-2s show it in box 12 code TT, and California does not follow the deduction.
The Overtime Deduction in 2026: What Workers and Employers Need to Know Read More »
Taxpayers 65 and older can claim an extra $6,000 deduction each for 2025 through 2028, on top of the regular senior standard deduction. The deduction phases out with income, so year-end choices about IRA withdrawals and gifts can make a difference.
The New $6,000 Senior Deduction: How to Make the Most of It in 2026 Read More »
For 2025 through 2028, you may be able to deduct up to $10,000 a year of interest on a loan for a new, U.S.-assembled personal vehicle. Leases and used cars do not qualify, and the deduction phases out above $100,000 of income ($200,000 joint).
Buying a Car? The New Car Loan Interest Deduction Explained Read More »
The federal cap on deducting state and local taxes rose from $10,000 to $40,000 for 2025 and $40,400 for 2026, but it shrinks for incomes above $505,000. For many San Diego homeowners, itemizing is worth another look.
The SALT Deduction Cap Is Now $40,400: What It Means for California Homeowners Read More »
Treasury began automatically opening Trump Accounts for eligible children on October 1, 2026. Parents still need to claim the account, and children born from 2025 through 2028 can receive a $1,000 government deposit only if a parent elects it on Form 4547.
Trump Accounts for Children: Claiming the Account and the $1,000 Contribution Read More »
The 2026 brackets, standard deduction, retirement plan limits, child tax credit, estate and gift amounts, and the credits that expired after 2025, gathered in one place for year-end planning.
Key 2026 Tax Numbers for Your Year-End Planning Read More »
Permanent 100% bonus depreciation for property acquired after January 19, 2025, a $2.56 million Section 179 limit for 2026, and immediate deductions for domestic research costs. Here is how to use them before year-end, and why California’s numbers will differ.
Business Owners: 100% Bonus Depreciation Is Back, and Section 179 Is Bigger Read More »
The 1099-NEC and 1099-MISC threshold rises from $600 to $2,000 for payments made in 2026, and payment apps report on Form 1099-K only above $20,000 and 200 transactions. Fewer forms, but every dollar of income is still taxable.
Form 1099 Changes for 2026: New $2,000 and $20,000 Reporting Thresholds Read More »
Starting in 2026, people who take the standard deduction can deduct up to $1,000 ($2,000 joint) of cash gifts to charity, while itemizers face a new 0.5% of income floor. Here is how to plan your year-end giving.
Charitable Giving in 2026: New Rules for Itemizers and Non-Itemizers Read More »
