Karla L Justice CPA, PC

https://www.kiplinger.com/taxes/tax-deduction-change-for-those-over-65

2025 Tax Deduction Change for Those Over Age 65 Adjustments to the extra standard deduction can impact the tax bills of millions of older adults.

Tax Court Sides with IRS: Businesses Need to Prove Their Expense Deductions If you’re a self-employed individual, you can deduct your “ordinary and necessary” business expenses, just like the corporate giants do. However, you’re also held to the same strict substantiation rules.

TIGTA Alerts Taxpayers of New Tax Season Text Message Scam Scammers impersonating the IRS are texting taxpayers leading them to believe they're going to receive an economic impact payment, also known as a recovery rebate credit, but it's a scheme to steal their personal data, TIGTA said on Jan. 28.

Top 10 Biggest Income Tax Credits and Deductions for 2025 Tax credits are usually a direct subtraction of what you owe, and can sometimes come back to you in your refund. A tax deduction generally reduces what your taxable income is. In this article, we're looking at the Top 10 tax credits and deductions, if you qualify!

Treasury Department Says it Was Breached by Chinese-Backed Hacker The hacker was able to remotely access certain Treasury workstations and “certain unclassified documents maintained by those users,” according to a letter the agency sent to Congress on Dec. 30.

IRS Raises Standard Mileage Rate to 70 Cents Per Mile in 2025 The optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024.

IRS to Issue Special Payments to 1 Million Taxpayers The Internal Revenue Service has announced plans to issue automatic payments later this month to eligible people who did not claim the Recovery Rebate Credit on their 2021 tax returns.

At a Glance: The Average American Household Budget The average U.S. household spends more than $70,000 on housing, meals, transportation, health care and more. How does your household compare?

IRS Updates Tax Brackets, Standard Deductions For 2025 While the actual percentages will remain the same, the income levels of each bracket change annually to adjust to inflation.

IRS: People Are Being Misled on Social Media About a Tax Credit That Doesn't Exist The agency has seen an influx of claims for the non-existent "self-employment tax credit," which is being promoted on social media.

IRS Warns Taxpayers About Crypto ‘Pig Butchering’ Scams IRS Criminal Investigation special agents have seen an uptick in a specific type of scheme that couples cryptocurrency with romance.

2024 IRS Tax Brackets, Standard Deductions While the actual percentages will remain the same, the income levels of each bracket change annually to adjust to inflation.