Tax Blog - Page 4

Your First RMD Year: Rules for Age 73 in 2026

SECURE 2.0 raised the start age to 73. The April 1 deadline and two-RMDs-in-one-year trap.

RMD and Still Working: The Employer Plan Exception

If you are still working at 73+ and own less than 5% of the company, you can delay 401(k) RMDs.

Inherited IRA RMD Basics: The 10-Year Rule

The SECURE Act 10-year rule for most non-spouse beneficiaries. Definitional overview.

Missed Your RMD? The Penalty and How to Fix It

SECURE 2.0 reduced the penalty from 50% to 25% (10% if corrected within 2 years).

What Is the $6,000 Senior Deduction?

The OBBBA senior bonus deduction explained: who qualifies, the phase-out, and how it stacks.

Is Social Security Taxed in 2026? What Seniors Need to Know

The OBBBA did not eliminate SS taxation. Up to 85% of benefits can be taxable.

Three Tax Deductions for Seniors in 2026

Additional standard deduction, OBBBA senior bonus, and catch-up contributions.

How to Calculate the Senior Deduction Phase-Out

Step-by-step phase-out calculation with worked examples at multiple income levels.

Senior Deduction for Married Couples Filing Jointly

Both spouses age 65+ each get $6,000 (per-taxpayer). Combined: $12,000.

RMDs and the Senior Deduction: Using One to Offset the Other

The senior bonus deduction partially offsets the tax hit from required minimum distributions.

How to Calculate Self-Employment Tax in 2026

Step-by-step: net income, 92.35% base, 12.4% SS + 2.9% Medicare, 50% deduction.

Do Self-Employed Pay 30% Tax? The Real Rate

SE tax is 15.3%, not 30%. The confusion comes from combining SE tax + income tax.

Self-Employment Tax in 2026: What Changed

Wage base up to $184,500. SE rate unchanged. OBBBA tips/OT deductions are W-2 only.

Quarterly Tax Deadlines for 2026: Complete Guide

All four deadlines, who must pay, Form 1040-ES, and how to calculate each payment.

1099 vs W-2: Side-by-Side Tax Comparison for 2026

W-2 pays 7.65% FICA. 1099 pays 15.3% SE tax. Same income, different tax treatment.

State Self-Employment Tax: NJ, Idaho, and Minnesota

How state income tax stacks on top of federal SE tax in three GSC-foothold states.

Side Hustle Taxes: What You Owe in 2026

SE tax applies to side income. How to handle quarterly payments when you have a W-2 job.

Self-Employed Tax Deductions for 2026: The Full List

50% SE deduction, health insurance, home office, mileage, retirement contributions.

Schedule C Basics for Self-Employed Workers

What goes on Schedule C, how it flows to Schedule SE and Form 1040.

1099-NEC vs 1099-K: What Each Form Means

NEC = direct client payments. K = payment platform processing. Both report gross income.

Self-Employed Quarterly Tax Penalty: How to Avoid It

Underpayment penalty rules, safe harbor thresholds, and the annualized income method.

Self-Employment Tax and OBBBA Deductions

OBBBA tips/OT deductions require W-2. SE workers on 1099 cannot claim them.

When Will I Get My Tax Refund? 2027 Filing Season

E-file + direct deposit = 21 days. PATH Act holds for EITC/CTC filers.

Tax Refund with Dependents: How Kids Boost Your Refund

CTC, EITC, and Head of Household status: how dependents increase your refund.