Credits & Deductions
Maximize your tax savings with guides on the Child Tax Credit, EITC, education credits, itemized deductions, and more.
16 articles
Trump Account vs 529 Plan: Which Should Parents Pick in 2026?
Trump Account vs 529 compared — tax treatment, contribution caps, the free $1,000 pilot and employer money, and education vs non-education withdrawals.
Passive Activity Loss Rules: What Real Estate Investors Need to Know
How the IRS passive activity loss rules limit rental real estate losses — the $25,000 special allowance for active participation, the phase-out from $100k–$150k MAGI, real estate professional status, and how suspended losses carry forward.
2026 EITC Amounts and Income Limits
2026 IRS Earned Income Tax Credit maximums by child count, phase-out ranges, and investment income limit. See if you qualify and how much you can claim.
2026 Standard Deduction Amounts
The IRS has increased the 2026 standard deduction to $16,100 for single filers and $32,200 for married filing jointly (per Rev. Proc. 2025-32). See full amounts by filing status and how they compare to OBBBA-adjusted 2025 numbers.
Child Tax Credit 2025 & 2026: Eligibility, Amounts & Phase-Outs
How the Child Tax Credit works in 2025 and 2026 — the $2,200 per child amount after OBBBA, income phase-out thresholds, the refundable Additional Child Tax Credit, and who qualifies.
HSA vs. FSA: Which Health Account Is Better?
Compare Health Savings Accounts and Flexible Spending Accounts on tax advantages, contribution limits, eligible expenses, and long-term saving potential to find the right fit for your situation.
Is It Worth Itemizing Deductions Anymore? 2025 & 2026 OBBBA SALT Cap Update
OBBBA (signed July 2025) raised the SALT cap to $40,000 ($40,400 in 2026) and made the higher standard deduction permanent. Understand when itemizing still wins for homeowners, donors, and high-medical-expense filers.
Should You Pay Off Your Mortgage or Invest the Money?
Analyze whether paying off your mortgage early or investing extra cash produces better after-tax returns — accounting for mortgage interest deductions, expected investment returns, and risk tolerance.
Standard vs. Itemized Deductions: Which Should You Choose?
Compare the 2025 standard deduction amounts with common itemized deductions, and use a breakeven analysis to determine which method lowers your tax bill.
Child Tax Credit 2025 & 2026: $2,200 Per Child After OBBBA
Understand the 2025 and 2026 Child Tax Credit — $2,200 per child after the One, Big, Beautiful Bill Act, income phase-out thresholds, refundability rules, and the Additional Child Tax Credit for lower-income families.
Education Tax Credits Explained: AOTC vs. Lifetime Learning Credit
Compare the American Opportunity Tax Credit and Lifetime Learning Credit — eligibility rules, dollar amounts, income limits, and which credit gives you the bigger tax break in 2025.
Earned Income Tax Credit (EITC): Who Qualifies and How Much You Can Get
Learn who qualifies for the Earned Income Tax Credit in 2025, the income limits, credit amounts by number of children, and common mistakes that cost filers this valuable refundable credit.
Home Office Deduction Guide: Who Qualifies and How to Calculate It
Learn who can claim the home office deduction, the difference between the simplified and regular methods, and what expenses qualify — including key rules for remote employees.
Student Loan Tax Deductions and Forgiveness: What You Need to Know
Guide to the student loan interest deduction, income phase-outs, IDR plan tax implications, loan forgiveness taxation, and employer assistance programs.
1099 Freelancer Tax Guide: Everything You Need to Know for 2025
A complete guide to 1099 freelancer taxes in 2025: self-employment tax, quarterly payments, top deductions, and exactly how much to set aside so you never get blindsided at tax time.
Standard vs. Itemized Deduction in 2025: Which Should You Choose?
Compare the 2025 standard deduction amounts with itemized deductions to determine which option saves you more on your federal tax return.