Mt.Everest Tax Services

Standard deduction TY2025.

Let’s take a look at your tax bracket. TY2025

Do you know?
The new tax rule lets you deduct up to ten thousand dollars of car loan interest if the vehicle is new, U.S.-assembled, and used personally. It applies only if your income is below certain thresholds and doesn’t cover business use, which follows the standard business deduction rules. If you want to know about detail information, please contact Mt. Everest Tax Service to be sure everything applies to your situation.

Hello Taxpayers,
From 2025 through 2028, under President Trump’s “Beautiful Bill,” individuals may deduct up to $12,500 in qualified overtime pay ($25,000 for married filing jointly) from their federal income taxes. This deduction applies only to the overtime premium portion, not to regular wages.

Please don’t forget to report your Overtime premium during your tax return!

Tax news: The IRS will start processing returns on 1/26! Be one of the first to get your refund approved.

Hello Taxpayers,
For your information!
If you expect to owe more than $1,000 in federal taxes, you may be required to make quarterly estimated tax payments using Form 1040-ES to avoid penalties. Generally, you are exempt from this requirement if your withholding and estimated payments equal at least 90% of your current year’s tax liability or 100% of your prior year’s tax liability

Hello Taxpayers,

Most companies are required to issue W-2 forms by the end of January. However, if you have a stock or investment account, your Form 1099 B is typically issued later, usually around mid-February (approximately February 15).

Under President Donald Trump’s administration, approximately 6,700 employees of the Internal Revenue Service (IRS) have been laid off, constituting about 6% of its workforce. This action is part of a broader federal workforce reduction led by Elon Musk, head of the Department of Government Efficiency (DOGE)

BREAKING: Trump just announced he’ll start selling U.S. citizenship, permanent Mt.Everest Tax Services residency “gold cards” to anyone who’s willing to pay $5 million per card.