Changes and Deadlines Archives - Page 24 of 35

Business coach startup team workshop and mature business woman coaching men and women in modern office Diversity teamwork and writing note on strategy and planning advice from mentor or consultant

The 2026-2027 FAFSA dropped to just 36 questions — and family-owned businesses with under 100 employees no longer count against the student aid index for the first time

David Keller2 months ago2 months ago09 mins

Families who run small businesses and apply for federal student aid will no longer have those enterprises counted against them when colleges calculate how much help they qualify for. The 2026-2027 FAFSA form has been trimmed to 36 questions, and a new asset exclusion rule means that a family-owned business with 100 or fewer full-time…

The ACA’s enhanced premium tax credit expired January 1 — average marketplace enrollees now pay $1,016 more a year and 4.8 million people are set to lose coverage entirely

David Keller2 months ago2 months ago09 mins

Millions of Americans who purchase health insurance through Affordable Care Act marketplaces are facing steeper costs after the enhanced premium tax credits that Congress authorized from 2021 through 2025 lapsed at the start of 2026. The expiration restored an income cliff that blocks subsidies for households earning above 400% of the federal poverty level, and…

Medium shot young people living together

Quarterly estimated taxes are due in 13 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

David Keller2 months ago2 months ago09 mins

Self-employed workers, freelancers, and gig contractors face a June 15 deadline to submit their second-quarter estimated tax payments to the IRS. Those who fall short will be assessed an addition to tax that accrues daily until the balance is paid, a cost that can quietly grow into hundreds of dollars on even modest underpayments. With…

children playing on brown sand at daytime

The 2026 federal poverty level climbed to $15,650 for a single person and $32,150 for a family of four — resetting eligibility for Medicaid, SNAP, Lifeline, and ACA premium subsidies

Warren Cohen2 months ago2 months ago011 mins

For a home health aide in Ohio earning $15,200 a year, the $590 increase in the 2026 federal poverty level is not an abstraction. It is the difference between falling just above the eligibility line for Medicaid and falling just below it. As of January 23, 2026, a single person earning up to $15,650 meets…

Happy students sitting and studying outdoors while talking.

The 2026 American Opportunity Tax Credit pays up to $2,500 per eligible undergraduate — and 40% of that ($1,000) is refundable to students whose family owes little or no federal tax

Warren Cohen2 months ago2 months ago017 mins

Every spring, the IRS processes roughly nine million returns claiming the American Opportunity Tax Credit, representing approximately $17 billion in total claims according to IRS Statistics of Income data. Yet millions more eligible families never file for the benefit at all. For the 2026 tax year, the AOTC still offers up to $2,500 per eligible…

Interesting project. Two people working on project and looking busy

The OBBBA permanently restored 100% bonus depreciation for property placed in service after January 19, 2025 — saving about $40,000 first-year federal tax on a $200,000 capital expense at 21%

Warren Cohen2 months ago2 months ago015 mins

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act into law. Tucked inside the sprawling legislation was a provision that tax professionals had been lobbying for since 2023: the permanent restoration of 100% first-year bonus depreciation under Internal Revenue Code Section 168(k). For any business that buys qualifying equipment, machinery, or…

Focused businessman with documents reading information online over laptop on table at home office

Quarterly estimated taxes are due in 14 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

David Keller2 months ago2 months ago019 mins

A rideshare driver who pulled in $12,000 between April and May. A freelance graphic designer who invoiced $8,500 across three clients. A reseller who moved $6,000 in merchandise through an online storefront. None of them had a single dollar of federal tax withheld from those earnings. All of them owe the IRS a quarterly estimated…

a woman and a child are sitting at a table

The OBBBA quadrupled the employer-provided childcare tax credit from $150,000 to $500,000 — and small businesses under $31 million in receipts can claim up to $600,000 in qualifying expenses at 50%

David Keller2 months ago2 months ago019 mins

Running a childcare center for employees has never been cheap. In 2026, staffing, licensing, and facility costs in major metro areas can easily exceed $1 million a year for a single site. Until last summer, the federal tax code offered employers a credit that topped out at $150,000, a ceiling that had not moved since…

Closeup of customer paying to a waitress in a cafe

Tipped workers can now deduct up to $25,000 a year in cash tips from federal taxes through 2028 under the OBBBA — worth about $5,500 to a server in the 22% bracket

Warren Cohen2 months ago2 months ago013 mins

A full-time server at a busy steakhouse pulling in $800 a week in tips just got a reason to pay closer attention to her tax return. Under the One Big Beautiful Bill Act, signed into law on July 4, 2025, tipped workers can deduct up to $25,000 in tip income from their federal income taxes…

Happy smiling customers family caucasian couple man woman buy new car smile clients buyers female

The OBBBA auto-loan-interest deduction lets new-car buyers write off up to $10,000 a year in loan interest through 2028 — phasing out above $100,000 single or $200,000 joint income

Warren Cohen2 months ago2 months ago011 mins

For the first time in four decades, Americans who finance a new car can deduct the interest on their auto loan from their federal taxes. The provision, tucked into the One Big Beautiful Bill Act signed into law in 2025, revives a write-off that vanished after the Tax Reform Act of 1986 and gives qualifying…

Category: Changes and Deadlines

The 2026-2027 FAFSA dropped to just 36 questions — and family-owned businesses with under 100 employees no longer count against the student aid index for the first time

The ACA’s enhanced premium tax credit expired January 1 — average marketplace enrollees now pay $1,016 more a year and 4.8 million people are set to lose coverage entirely

Quarterly estimated taxes are due in 13 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

The 2026 federal poverty level climbed to $15,650 for a single person and $32,150 for a family of four — resetting eligibility for Medicaid, SNAP, Lifeline, and ACA premium subsidies

The 2026 American Opportunity Tax Credit pays up to $2,500 per eligible undergraduate — and 40% of that ($1,000) is refundable to students whose family owes little or no federal tax

The OBBBA permanently restored 100% bonus depreciation for property placed in service after January 19, 2025 — saving about $40,000 first-year federal tax on a $200,000 capital expense at 21%

Quarterly estimated taxes are due in 14 days — self-employed and gig workers who underpay by June 15 get hit with an 8% IRS penalty plus daily interest

The OBBBA quadrupled the employer-provided childcare tax credit from $150,000 to $500,000 — and small businesses under $31 million in receipts can claim up to $600,000 in qualifying expenses at 50%

Tipped workers can now deduct up to $25,000 a year in cash tips from federal taxes through 2028 under the OBBBA — worth about $5,500 to a server in the 22% bracket

The OBBBA auto-loan-interest deduction lets new-car buyers write off up to $10,000 a year in loan interest through 2028 — phasing out above $100,000 single or $200,000 joint income

IG

FB

PIN

LI

X