Why You Should Think Twice Before Using AI to Do Your Taxes Artificial intelligence tools are everywhere now. They can help you write papers, plan trips, and even answer tough questions. So it might seem smart to use AI to prepare your taxes too. After all, AI is fast, convenient, and available 24/7. But before…
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2025 Tax-Free Tips Deduction: How Workers in Tip-Based Jobs Can Save on Taxes
Good news for service and hospitality workers: starting in 2025, a new federal tax deduction allows employees who earn tips to reduce their taxable income. This change helps millions of tipped workers—from restaurant servers to salon staff—keep more of their hard-earned money. What Is the 2025 Tax-Free Tips Deduction? The new tax-free tips deduction is…
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Extra Tax Deduction for Seniors: What You Need to Know
This extra deduction only applies to your Federal taxes (Form 1040) Social Security benefits are already tax-free on the Wisconsin taxes. If you’re 65 or older, there’s a new tax deduction starting in 2025 that could help you save even more on your taxes. Here’s a simple breakdown of how it works: What’s the New…
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Deduct Car Loan Interest: What You Need to Know
The new law only applies for Federal taxes (Form 1040). Wisconsin has not said if the interest is tax deductible for WI taxes. If you’re planning to or did buy a new car, there’s a new tax deduction starting in 2025 that lets you deduct the interest you pay on your car loan. Here’s a…
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