Tax-Free Tax Coach

07/03/2025

OBBB new Tax provisions:
Starting 2025 thru 2028, then sun-setting:

1) No tax on tips. Tips reported from W-2, then get up to $25K additional (both single and joint) deduction.

2) No tax on overtime. Overtime reported on W-2 and included in income. Then get up to $12,500 Single or $25K joint additional deduction.

3)No tax on SS Benefits. Report SS and then get extra deduction up to $6K per SSA recipient.

All subject to phase outs so only benefiting those in lower/middle income brackets.

Call now to connect with business.

07/01/2025

https://www.dailysignal.com/2025/07/01/88-seniors-wont-pay-taxes-social-security-one-big-beautiful-bill-passes-analysis-finds/?utm_source=TDS_Email&utm_medium=email&utm_campaign=breaking-3-republicans-all-democrats-vote-against-one-big-beautiful-bill&_bhlid=3255f576a7d61e512f6ab713181b332dedd0498c

The Council on Economic Advisers says the One Big, Beautiful Bill includes the largest tax break in American history for seniors.

05/01/2024

https://www.cpapracticeadvisor.com/2024/04/19/georgians-claimed-over-109-million-in-tax-deductions-for-unborn-dependents/104241/?utm_source=CPA+Practice+Advisor&utm_campaign=6047104781-EMAIL_CAMPAIGN_2024_04_22_12_06&utm_medium=email&utm_term=0_-6047104781-%5BLIST_EMAIL_ID%5D

02/05/2024

For fiscal year 2024, the IRS plans to boost enforcement staff by a net 5,462 employees, according to a Jan. 29 report by IRS watchdog Treasury Inspector General for Tax Administration (TIGTA). This would take the total number of enforcement personnel at the tax agency to 18,960 by the end of fiscal 2024, which is 40 percent higher than the staffing at the beginning of October 2023.

The tax agency plans to increase staffing by adding 493 armed special agents this year.

05/18/2023

https://www.nfib.com/content/analysis/national/main-street-tax-certainty-act-to-be-introduced-in-the-u-s-senate/?utm_source=eNews-OH&utm_medium=email&utm_campaign=eNews05182023&utm_content=httpwwwnfibcommainstreettaxcertaintyacttobeintroducedintheussenate&mkt_tok=NDgzLVNZTS0wNDkAAAGLzza4OAYaWEn8M3nFBzoOA-bZFenRJJOc421NvL8-zbwIGRdUswjFOWhqBWdGNxPZZMiUcaWbMz2HfW89GEVLJ2VdCnj_irdadCDiVn2N_X4

04/24/2023

https://www.nfib.com/content/analysis/agriculture/how-expanded-irs-enforcement-will-hurt-main-street/?utm_source=eNews-OH&utm_medium=email&utm_campaign=eNews04202023&utm_content=httpwwwnfibcomhowexpandedirsenforcementwillhurtmainstreet&mkt_tok=NDgzLVNZTS0wNDkAAAGLPtkH_GVM2c08whEtMywIpCyDXXnD5wHkFvei1pfEX3BwshfgGWyBESkXa7pI-hzqjSM8KqJchhqRPgZLZT4LUHGgYM1DG0yOywHPhguyy9ao

Taxes remain a top concern for small business owners, but instead of focusing on taxpayer assistance and education, the IRS is going to expand enforcement.

04/24/2023

https://www.nfib.com/content/analysis/agriculture/how-expanded-irs-enforcement-will-hurt-main-street/?utm_source=eNews-OH&utm_medium=email&utm_campaign=eNews04202023&utm_content=httpwwwnfibcomhowexpandedirsenforcementwillhurtmainstreet&mkt_tok=NDgzLVNZTS0wNDkAAAGLPtkH_GVM2c08whEtMywIpCyDXXnD5wHkFvei1pfEX3BwshfgGWyBESkXa7pI-hzqjSM8KqJchhqRPgZLZT4LUHGgYM1DG0yOywHPhguyy9ao

04/05/2023

https://apnews.com/article/irs-tax-season-werfel-yellen-ab6ef1d350e0de5f1a64a5b3ba140661

The Internal Revenue Service’s new commissioner promises that with billions in new funding, the agency will be faster, more service-focused and tech- savvy and will provide “real-world improvements” to taxpayers. “This is our moment in history to transform the IRS,” said Daniel Werfel, who...

03/09/2023

https://cpatrendlines.com/2023/03/08/hello-irs-anybody-home-2/?utm_source=Newsletter&utm_medium=email&utm_content=Hello%3F+IRS%3F+Anybody+Home%3F&utm_campaign=T_+Thursday_b+2023-03-09+%2F+++RSS%3AITEM%3ATITLE++%2F+MR_RETREAT%2C+BL_SEO%2C+IOA_WOMEN%2C+EM_TSC+%2F++Beth+sNew+BBvF+%28Copy%29