Maximize Tax Refunds: New Deductions & Strategies
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Tax season brings good news: refunds up to ten percent higher than last year, thanks to new laws expanding deductions. Service industry workers can now deduct up to $25,000 in qualified tips, and overtime pay above regular rate qualifies for a deduction up to $12,500 per person. Workers aged 60-63 can supercharge retirement catch-up contributions to $11,250. Health savings accounts offer triple tax breaks with limits of $4,300 for individuals or $8,550 for families. Last-minute moves like funding accounts for the prior year can still boost your bottom line. Hiring a pro for complex returns can pay off through smarter planning.
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