by Jorden Chryss, CPA | Aug 10, 2025 | New Tax Laws One Big Beautiful Act 2025
The 2025 updates to the Tax Cuts and Jobs Act (TCJA)—also known as the One Big Beautiful Act—bring significant financial opportunities for families with children. Two of the most notable provisions are: A permanent increase to the Child Tax Credit (CTC), with...
by Jorden Chryss, CPA | Aug 10, 2025 | New Tax Laws One Big Beautiful Act 2025
The 2025 updates to the Tax Cuts and Jobs Act (TCJA)—part of the One Big Beautiful Act—introduce three new deductions that could reduce your taxable income without requiring you to itemize. From tip income to overtime pay to car loan interest, these changes apply to...
by Jorden Chryss, CPA | Aug 10, 2025 | New Tax Laws One Big Beautiful Act 2025
What Is the New Senior Deduction? Currently, the IRS allows taxpayers 65 or older (or those who are blind) to claim an additional standard deduction beyond the regular standard deduction amount. For 2025, this existing extra deduction is expected to be around: $1,850...
by Jorden Chryss, CPA | Aug 10, 2025 | New Tax Laws One Big Beautiful Act 2025
The 2025 update to the Tax Cuts and Jobs Act (TCJA)—part of the One Big Beautiful Act—introduces two major changes to how charitable contributions are deducted: A new above-the-line deduction for nonitemizers — so even taxpayers who take the standard deduction can get...
by Jorden Chryss, CPA | Aug 10, 2025 | New Tax Laws One Big Beautiful Act 2025
In one of the most welcome changes of the 2025 update to the Tax Cuts and Jobs Act (TCJA), the deduction for mortgage insurance premiums (MIPs) has been permanently restored. This tax break had expired at the end of 2021, leaving many homeowners—especially first-time...
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