Beginning in 2026, the tax rules for gambling losses are more restrictive. 👉 New Cap on Gambling Losses First, taxpayers may deduct only 90% of their yearly gambling losses. Second, those deductible losses cannot exceed total gambling winnings, maintaining a key restriction from prior law. For instance, if a taxpayer has $10,000 in losses and […]
If you’re in school, just started working, or learning a trade, the tax code can help to lower the cost of education and training. Here are a few relevant items to keep in mind: 👉 Education Credits Apply to More Than Just College The American Opportunity Credit and Lifetime Learning Credit aren’t just for traditional […]
If you have a Health Savings Account (HSA), or are considering getting one, there are some quiet but powerful upgrades put into place in the so-called “One, Big, Beautiful Bill.” The main benefit of an HSA is that you can get a tax deduction for contributing to the account, and then you can let the […]
It’s almost the end of the year and now is a good time to prepare for tax season in 2026. Easy Tax Service would like to remind you of important tax filing deadlines and documents needed to file your tax return. January 15, 2026 is the due date for the fourth quarter estimated tax payment […]
If you (or someone you know) owe the IRS back taxes, we have some good news to share, as shown below. Please note that not all of these “breaks” apply to every situation, so this should not be taken as individualized tax advice, nevertheless you (or someone you know) may find these new tax breaks […]