Tax Deductions and Credits for the 2025 Tax Year
We know that filing your taxes for 2025 can feel overwhelming, especially with new laws, credits, and deduction limits changing each year. Understanding which tax deductions and tax credits you qualify for can significantly lower your tax bill when you file in 2026. Here we break down the most important deductions and credits for individuals […]
New IRS Standard Deductions for 2025 Tax Year
The Internal Revenue Service (IRS) announced on Tuesday new inflation-adjusted tax brackets for 2025. The IRS also revealed an increase in the standard deduction to $15,000 for single filers and $30,000 for married couples. These changes will apply to income earned in 2025 and reported on tax returns filed in 2026. While the marginal tax […]
Tax Season 2022 – Tax Credits & Deductions
Tax season 2022 is officially here. And with the IRS continuing to grow overwhelmed by its increasing backlog, it’s shaping up to be another chaotic one. Luckily for taxpayers, the CPAs and tax experts at Boxelder Consulting are always just a phone call away. Voted one of Denver’s best tax services in 2022, our team has […]
Tax Deductions You May Not Know About
What is a tax deduction exactly? Simply, tax deductions lower your taxable income; this plays to your favor as the lower your taxable income is, the more cash you get to keep in your pocket when you go to pay taxes. There are deductions for all sorts of things; here are 8 tax deductions you […]
Are Tax Refunds Getting Bigger This Year? Here’s the Real Answer.
You’ve probably heard the headlines. The White House called this the largest tax refund season in U.S. history and projected the average refund would rise by $1,000 or more. So if your refund felt underwhelming, you’re not imagining it. The truth is more complicated than the headlines. Yes, refunds are technically up, but for most […]
A Guide to Filing Taxes for Freelancers and Gig Workers in 2026
Are you a freelancer, gig worker, or independent contractor preparing to file your taxes for the 2025 tax year? Between new rules from the One Big Beautiful Bill Act and ongoing changes to 1099-K reporting thresholds, tax season 2026 looks a little different for self-employed workers. Here’s everything you need to know. Whether you drive […]
Tax Law Changes Affecting 2025 Tax Returns
Federal tax rules change every year, but 2025 includes several important updates that may affect how much you owe, which credits you qualify for, and what documentation is required when you file in 2026. Some changes come from annual IRS inflation adjustments, while others are the result of new federal legislation, including the One Big Beautiful […]
One Big Beautiful Bill: What It Means for Your 2025 Taxes
The One Big Beautiful Bill (Public Law 119-21) was signed into law on July 4, 2025, and includes several tax provisions that take effect for the 2025 tax year. These changes affect individuals, families, business owners, and certain tax credits. If you are filing a 2025 tax return in 2026, some of the deductions, […]