WH Tax Services

08/29/2026

Do you have a favorite charity or non-profit? If you take the standard deduction on your income tax return, you can now deduct up to an additional $1,000 for single filers or $2,000 for married couples filing jointly in 2026 for making qualifying charitable contributions.

04/15/2026

The IRS has just issued a disaster declaration for all 95 TN counties moving the April 15th deadline to June 8th.

01/06/2026

Tax Season is here! Let us know if you need help with W-2s & 1099s!

07/08/2025

The Big Beautiful Bill signed into law makes Qualified Business Deduction (QBI) permanent helping small businesses!

07/08/2025

How does the BBB signed into law affect you?

Standard deductions are increased for 2025 and indexed for inflation in the future under the new tax law.

Standard Deduction by Filing Status

Single $15,750
Married Filing Joint $31,500
Married Filing Seperate $15,750
Head Of Household $23,625

07/08/2025

What's in the new tax legislation that was just signed into law for those 65 and older?

$6,000 deduction for taxpayers who have reached age 65.
-In addition to standard deduction and itemized deductions.
-Taxpayer’s Social Security number required.
-Married taxpayers under IRC Section 7703 must file a joint return.
-Available for tax years 2025 through 2028.
Phaseouts for modified adjusted gross income over $150,000 for
married taxpayers filing jointly and $75,000 for all other taxpayers.
-The deduction is not indexed for inflation

For those in the 10% tax bracket that could be a tax reduction of up to $600. For those in the 12% tax bracket that could be a tax reduction of up to $720. Those in a 22% tax bracket could see a decrease of tax of up to $1320.

11/25/2024

Our offices will be closed Thursday and Friday this week to enjoy the Thanksgiving holiday. Happy Thanksgiving to all our clients and communities!

03/25/2024