Tom Keuler, CPA, with over 30 years of expertise, will help navigate your business from a start up to a financial success. His expert guidance ensures error-free financial decisions, safeguarding against government penalties and interest charges. Your first appointment won't cost you anything, and there's no pressure to commit to anything afterward. To provide you…
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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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No Taxes on Overtime Pay: What You Need to Know
The new law only applies for Federal taxes (Form 1040). Wisconsin has not said if the overtime is tax-free. If you earn overtime pay, there’s a new tax rule starting in 2025 that could help you save money. Here’s a simple breakdown of this new deduction: What’s the New Overtime Deduction? From 2025 to 2028,…
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