Personal Tax Help

The IRS has updated the standard mileage rates for 2026, reflecting changes in costs and usage trends. These rates are used to calculate deductible expenses for business, medical, moving, and charitable purposes.

Start the year off right! Review your tax withholding and make any necessary updates. New hires and employees making changes should use the 2026 W-4 form.

Beginning January 1, 2026, catch-up contributions for employees aged 50+ earning more than $145,000 must be made as Roth (after-tax) contributions.

Starting January 1, 2026, the minimum wage in New York State will increase.

You can now deduct up to $10,000 in interest paid on a loan used to purchase a qualified personal-use vehicle.

The IRS has increased IRA contribution limits to help you save more for retirement—plus extra benefits for those age 50 and older.

Plan Ahead for 2026! Contribution limits for retirement plans are increasing—don’t miss out. The IRS has announced new contribution limits for retirement plans for the 2026 tax year, giving employees more opportunities to save for the future.

Effective for tax years 2025–2028, qualified tips earned by individuals may be claimed as a federal income tax deduction of up to $25,000. Tips include money received from customers in cash, by credit card, or through a tip-sharing arrangement—provided they are given voluntarily.

Starting with your 2025 federal tax return, the Child Tax Credit will increase to a maximum of $2,200 per qualifying child - up from $2,000 in 2024. This credit is applicable to children under age 17 and taxpayers must meet income and dependency requirements.

Starting September 30, 2025, the Social Security Administration will officially stop issuing physical paper checks for benefit payments. This marks a significant shift in how beneficiaries receive their funds.

If you live in a high-tax state like New York, California, or Connecticut, the federal SALT (State and Local Tax) deduction has long been a hot topic. With the passage of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, taxpayers in these states may finally see some relief—at least temporarily.