Tax Blog - Page 3
How to Reduce Capital Gains Tax: Legal Strategies
8 strategies: hold 1+ year, home sale exclusion, tax-loss harvesting, 0% bracket, and more.
Wisconsin Governor Vetoes No-Tax-on-Tips and Overtime Bills
Governor Evers vetoed SB 36 and AB 461 on April 4, 2026. Wisconsin workers will not receive state-level OBBBA deductions.
When Does No Tax on Tips Start?
The effective date, retroactive application to 2025, and when you will actually see savings on your paycheck.
Do Cash Tips Qualify for the Tips Deduction?
Cash tips, credit card tips, 1099 tips, and self-employed tips: which qualify for the IRC Section 224 deduction.
Does No Tax on Tips Reduce FICA?
The tips deduction reduces income tax but not Social Security or Medicare. Here is exactly why.
How the $25,000 Tips Cap Phases Out
The MAGI-based phase-out that reduces the tips deduction by 10% of excess income, with worked examples.
Who Qualifies for No Tax on Overtime?
FLSA non-exempt status, the salaried-exempt exclusion, and why independent contractors do not qualify.
Only the Overtime Premium Is Deductible
Why your $37.50/hr overtime pay only yields a $12.50/hr deduction, with worked examples.
Does No Tax on Overtime Reduce FICA?
Like the tips deduction, the overtime deduction only reduces federal income tax. FICA still applies.
Can Salaried Employees Claim the Overtime Deduction?
FLSA exempt vs non-exempt status and why most salaried employees cannot claim the Section 225 deduction.
How Do Tax Brackets Actually Work?
The progressive tax system explained step by step: why being in the 22% bracket does not mean all income is taxed at 22%.
What Tax Bracket Am I In? 2026 Quick Lookup
Find your 2026 federal tax bracket by filing status and income, with the exact thresholds for all seven brackets.
Single vs Married Filing Jointly: 2026 Tax Comparison
Side-by-side bracket and deduction comparison for the two most common filing statuses.
2026 Standard Deduction: What Changed
The new standard deduction amounts, who should itemize, and how the OBBBA senior bonus adds on top.
How to Adjust Your W-4 Withholding for 2026
Step-by-step instructions for updating your W-4, including how to account for OBBBA deductions.
Why Is So Much Tax Taken from My Paycheck?
Breaking down every deduction on your pay stub: federal tax, state tax, Social Security, Medicare, and more.
The 22% Bonus Tax: Why Your Bonus Seems Over-Taxed
The flat 22% supplemental withholding rate is not a separate tax. Here is how it actually works.
Safe Harbor for Estimated Taxes: The 100%/110% Rule
How to avoid underpayment penalties by meeting the safe harbor thresholds for quarterly estimated taxes.
W-2 Box 12 Codes Explained for 2027 Filing
Every Box 12 code on your W-2, including the new TP and TT codes for OBBBA deductions.
When Do W-2s Come Out? 2027 Filing Deadlines
Employer deadlines, when to expect your W-2, and what to do if January 31 passes without one.
W-2 vs Last Pay Stub: Why the Numbers Differ
Pre-tax deductions, year-end adjustments, and other reasons your W-2 totals do not match your final pay stub.
How to Fix W-2 Errors: The W-2C Process
What to do when Box 1, Box 12, or withholding amounts on your W-2 are wrong, and how the W-2C correction works.
RMD Withdrawal Table for 2026: The Uniform Lifetime Table
Walk through the IRS Uniform Lifetime Table with distribution periods for ages 72-90.
RMD by Age: How Much Must You Withdraw?
Worked dollar examples at age milestones: 73, 75, 80, 85, and 90.