ANN Accounting Unlimited LLC.

New tax deductions from the One, Big, Beautiful Bill provisions include:
• Overtime Pay Deduction
• Tip Income Deduction
• Senior Deduction
• Standard Deduction Boost

Learn more from the at: https://ow.ly/iycs50Ysphr

What to know about the new Trump accounts for kids Discover how Trump accounts may be able to help families boost kids’ long-term financial security.

There are income/location guidelines on the $250 though.

and Treasury are moving into a new era, and leaving relics of the past behind. This means we're saying goodbye to paper checks, and we're saying hello to electronic payment methods. Did you know that direct deposit refunds are less likely to get returned as undeliverable? And don’t forget, electronic tax payments are less likely to post late, helping you avoid penalties and interest.

Use our Frequently Asked Questions to get the answers you need at https://ow.ly/J5LW50Y4q49.

🧾 Monday Tax Tip for Business Owners (1099 Edition)

If you receive or issue 1099s, this one’s for you 👇🏽

• Received a 1099? No taxes were withheld, so be sure you’re setting aside funds for federal, state, and self-employment taxes.
• Paid contractors $600 or more? You must issue 1099-NEC forms by January 31st to avoid penalties.
• Track your expenses—supplies, mileage, home office, phone, and marketing costs can help lower your taxable income.
• Earn 1099 income year-round? You may be required to make quarterly estimated tax payments to avoid penalties.
• Double-check your 1099s against your records. Income must be reported even if a 1099 is missing or incorrect.

📊 Staying organized now = less stress later.

👉 Feel free to contact me with any questions or for help getting tax-ready!

IRS kicks off 2026 tax season The Internal Revenue Service officially opened tax-filing season amid changes from the One Big Beautiful Bill Act and the threat of another government shutdown.

IRS’s new “Deduction for Seniors” lets folks 65 and older claim an extra $6,000 on top of the existing senior standard deduction.

Here’s the simple breakdown to gear up for next year’s filing (2026 for 2025 taxes):

• Who qualifies? Anyone turning 65 by the end of 2025. It’s per person, so a married couple where both are eligible gets $12,000 total.

• How to claim: It’s an above-the-line deduction that stacks with the standard deduction you already get. No separate form. Just report it on your return.

• Income limits: You get the full $6,000 per person until your modified AGI crosses $75,000 (or $150,000 married). After that, it phases out.

Now here’s what most people will miss:

• This is temporary. It only applies for 2025–2028 unless Congress extends it.
• This is on top of the current senior add-on deduction (which is roughly $1,950 per person for 2024).
• If you’re retiring soon, this helps offset the tax hit of Social Security becoming taxable or RMDs kicking in.
• If you’re doing Roth conversions, plan around the phaseout line so you don’t accidentally lose the deduction.
• If both spouses turn 65 in the same year, you get the full $12,000 immediately.

If you’re hitting 65 this year, this isn’t pocket change.

It’s one of the easiest ways to lower your tax bill, so plan your income around it.

South Dakota minimum wage increases to $11.85 per hour
https://www.kotatv.com/2025/12/26/south-dakota-minimum-wage-increases-1185-per-hour/