by Caleb Jenkins | Aug 1, 2026 | Uncategorized
How Does the SALT Deduction Work For High Earners? Quick Answer: In 2026, the State and Local Tax (SALT) deduction allows you to write off up to $40,400 on Schedule A, but a Modified Adjusted Gross Income (MAGI) over $505,000 triggers a 30% phaseout that...
by Caleb Jenkins | Jul 23, 2026 | Uncategorized
Quick Answer: The Lifetime Learning Credit (LLC) is a non-refundable federal tax credit worth up to $2,000 per tax return. It’s calculated as 20% of the first $10,000 in qualifying higher education tuition and fees, with no limit on the number of tax years...
by Caleb Jenkins | Nov 11, 2025 | Uncategorized
Key TakeawaysThe Child Tax Credit (CTC) is now worth up to $2,200 per child for 2025 taxes (filed in 2026). Up to $1,700 of the credit is refundable if you don’t owe any taxes. Because of the OBBBA, you (or at least one spouse if filing jointly) must...
by Caleb Jenkins | Oct 15, 2025 | Uncategorized
Quick Takeaways: How Should I Start Preparing For An Audit?Only send copies of the documents the IRS specifically asks for — nothing more. Start with the notice. The audit letter itself tells you the scope, type of audit, and deadlines. Anticipate triggers...
by Caleb Jenkins | Oct 15, 2025 | Uncategorized
Quick Summary: What Smart Accounting For Small Businesses Looks Like In 2025Call your tax advisor before making financial moves to avoid missed deductions or costly surprises. You need modern, integrated tools to stay compliant (and audit-ready) in 2025. The...
by Caleb Jenkins | Oct 15, 2025 | Uncategorized
Quick Answers: When To File Married Filing Separately?Filing separately can help if one spouse has high medical expenses and a lower income. It can protect a tax refund from being seized if the other spouse owes past debts (taxes, child support, student...
