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2026 Tax Prep Explained - What Taxpayers Need to Know
I’ve read through the 800+ pages of the One Big Beautiful Bill, for the items relevant to most US taxpayers. 5 quick bits of Good News: 1. SALT cap on Schedule A raised from $10k to $40k – big help to homeowners in high-tax states such as CA, NJ and WA. 2. Seniors – all taxpayers 65 and older qualify for an additional $6k deduction. This replaces the prior senior adjustment of $1,950. 3. Interest paid on auto loans – now deductible from taxable income, up to

Adam Kutchman
4 days ago1 min read
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