2025 Tax Legislation - Big Beautiful Bill
Trump Account - Newborn Pilot Program
For US citizens born between 01/01/25 and 12/31/28, the federal government will contribute $1,000 per child into eligible accounts.
Trump Accounts can be opened by the parent or guardian for the newborn.
A social security number is required to open and account and receive the $1,000 contribution.
Visit us in Keysville and we can discuss how the "BBB" tax changes will effect your 2025 Tax Return.
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2025 Tax Legislation - No Tax On Overtime
This deduction is available tax years 2025 - 2028.
An above line deduction of $12,500 ($25,000 MFJ) was created for overtime pay.
When the modified adjusted gross income go over $150,000 ($300,000 MFJ) a phase out begins at a 10% rate.
This deduction is not allowed for Married Filing Separately taxpayers.
Keep watching for my updates on the Big Beautiful Bill and there effects on your tax returns. Come in and visit use in Keysville to get
further information.
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Attention Truckers and Loggers
To avoid penalties from the IRS and state registration issues, file your Form 2290 Highway and Use. This form is due by September 2, 2025.
If you need help with filing this report we are glad to help you. Stop by and see us in Keysville or give us a call.
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