Featured Image: Image of the Trump tax plan document The Tax Cuts and Jobs Act (TCJA), commonly known as the Trump tax plan, was a significant piece of legislation that made sweeping changes to the U.S. tax code. The law, which was signed by President Donald Trump in December 2017, had a major impact on … Read more
The standard deduction is a specific amount that you can deduct from your taxable income before you calculate your taxes. It is a dollar-for-dollar reduction, meaning that it directly lowers your taxable income. The standard deduction varies depending on your filing status and is adjusted each year for inflation. For married couples filing jointly in … Read more
Congress has not yet passed a budget for 2025. The deadline to pass a budget is October 1, 2023, but Congress has not been able to agree on a budget that can be passed by both the House and the Senate. This is the first time in over 20 years that Congress has not passed … Read more
The Internal Revenue Service (IRS) has announced that the filing deadline for individual income taxes for the 2025 tax year will be Tuesday, April 15, 2026. This is the same filing deadline as in previous years. However, it is important to note that the due date for filing your taxes may be different if you … Read more
