Good news for workers in tip-based jobs! Starting in 2025, there’s a new tax deduction for tips that could help you save money. Here’s a quick and simple breakdown: What’s the New Deduction About? If you work in a job where you regularly earn tips, you may be able to deduct those tips from your…
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HELP PREVENT IDENTITY THEFT
There are various steps you can take to avoid identity theft. The first two relate to getting an Identity Protection PIN from the IRS and Wisconsin. 1. Get protection PIN from the IRS. This will prevent someone else from filing Federal taxes using your identity. To learn more click Get An Identity Protection PIN …
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All Done After Sept 30th 2025– Electric Vehicle Tax Credit!
The rules depend on if you are buying a new or used. Not knowing could cost you thousands in tax savings. NEW VEHICLES Before you go any further, have you passed BOTH of these tests? If you fail either test, NO credit! Test 1The vehicle's manufacturer suggested retail price (MSRP) can't exceed: $80,000 for…
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Is There Really an Age When You No Longer Have to Pay Income and Social Security Taxes?
Unfortunately, the answer is no. There is no age at which you become exempt from paying income or Social Security taxes in the United States. Your tax obligation is determined solely by your income, not your age. The Internal Revenue Service (IRS) and Wisconsin have income thresholds that dictate whether or not you must file…
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