• The standard deduction will increase ($31,500 for married couples filing jointly), $15,750 per person, or $23,625 for Head of Household.
• There are no personal exemptions.
• If you purchased solar panels or an electric vehicle in 2025, please bring the purchase and sale contract. Or if you purchased a 2025 car made in USA, then request a letter from the financing institution about interest paid during 2025.  If you worked overtime in any part of the year, bring your last paystub (from 2025) for each job you had in 2025.

• To be your qualifying child, a child must be younger than you unless the child is permanently and totally disabled.
• A child cannot be your qualifying child if he or she files a joint return, unless the return was filed only as a claim for refund.
• If the parents of a child can claim the child as a qualifying child but no parent so claims the child, no one else can claim the child as a qualifying child unless that person's adjusted gross income (AGI) is higher than the highest AGI of any of the child's parents who can claim the child.

The earned income credit depends on your income and whether you have any dependents.  

Qualifying                   Filing as Single, Head of Household           Filing Married Jointly

Dependent                  or  Widowed

 

Zero                                    $19,104                                                      $26,214

One                                     $50,434                                                      $57,554

Two                                     $57,310                                                      $64,430

Three                                  $61,555                                                      $68,675

Investment income limit: $11,950 or less

Maximum credit amounts (Remember is a sliding scale, the closer you get to the income limit, lower is your credit)

• No qualifying dependent: $649, 1 qualifying dependent: $4,328, 2 qualifying dependents: $7,152, 3 or more qualifying dependents: $8,046​

 

If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), you can expect to get your refund by March 3 if you file at least by February 14.

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***To check where is your refund:  Federal, go to www.irs.gov or call 800-829-1040

***To check for your refund on any of the states go to your state.gov, for example Ohio.gov type where is my refund?

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Deductible expenses

You can deduct these expenses whether you take the standard deduction or itemize:

 Business use of your car, Business use of your home, Money you put in an IRA, Money you put in health savings accounts, Penalties on early withdrawals from savings, Student loan interest, Teacher expenses, for some military, government, self-employed, and people with disabilities: work-related education expenses, for military servicemembers: moving expenses

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If you itemize, you can deduct these expenses:

Bad debts, Canceled debt on home, Capital losses, Donations to charity, Gains from sale of your home, Gambling losses, home mortgage interest, Income, sales, real estate and personal property taxes (up to $20,000 for single and $40,000 couples income limits apply), Losses from disasters and theft, Medical and dental expenses over 7.5% of your adjusted gross income, Miscellaneous itemized deductions, Opportunity zone investment

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There is much more to know, please ask me 774-253-0866 or visit www.irs.gov