Smart Accounting Solutions

New Tax Deductions for 2025
1- Taxpayers age 65 and older ($6,000 additional deduction)
2- “No Tax on Tips” up to $25,000
3- “No Tax on Overtime” up to $12,500 (need last pay stub)
4- Auto Loan Interest Deduction Up to $10,000

Nuevas deducciones fiscales para 2025
1. Personas de 65 años o más (deducción adicional de $6,000)
2. No impuestos sobre propinas hasta $25,000
3. No impuestos sobre horas extras hasta $12,500 (se requiere el último recibo de nómina)
4. Intereses de préstamos para automóviles hasta $10,000

IRS is phasing out paper refund checks.

Beginning this year, the agency will generally pay tax refunds to individuals only by direct deposit.