National Tax Services, Inc

01/18/2026

Reduced taxes on tips

The new provision creates a temporary deduction for tips up to $25,000 for tax years 2025 through 2028. This deduction is available regardless of whether you itemize your deductions or not.

If you earn tips and your income is $150,000 or below, you may be eligible to claim this deduction. However, the tax benefit begins to phase out for income above $150,000. It’s essential to understand that this deduction doesn’t directly reduce your taxes dollar-for-dollar, and your actual tax savings will depend on your tax rate.

For example, if you earned $5,000 in tips and are in the 12% tax bracket, your tax savings would be $600.

01/17/2026

New deduction for car loan interest

A new temporary tax deduction allows you to deduct up to $10,000 in car loan interest per year for qualified auto loans. To qualify, the vehicle must be for personal use and assembled in the United States. This deduction phases out when income is above $100,000 and for married couples with incomes above $200,000.

08/20/2025

Congress has passed a new tax law (often referred to as the "Big Beautiful Tax Bill") that will affect how we file your taxes for the 2025 tax year.

Here’s a quick summary of the key changes that may impact you:

🧾 Key Individual Tax Changes:

Standard Deduction Increased
Single and Married Filing Separately: $15,750. This is an increase of $750 from the previous standard deduction amount of $15,000.

Married Filing Jointly and Qualifying Surviving Spouses: $31,500.
This is an increase of $1,500 from the previous standard deduction amount of $30,000.

Heads of Household: $23,625.

Tax Bracket Adjustments:
Brackets have shifted slightly, potentially lowering your marginal rate. This means you could owe less in federal income tax depending on your income level.

Additional deductions for seniors

The OBBBA also introduced a new temporary bonus standard deduction for those age 65 and older.

This deduction is $6,000 per qualifying individual, meaning a couple where both spouses qualify could potentially deduct an extra $12,000.

This bonus deduction is available from 2025 through 2028.
Eligibility for the full bonus deduction is subject to Modified Adjusted Gross Income (MAGI) limitations: $75,000 for single filers and $150,000 for married couples filing jointly.

The deduction phases out at a rate of 6% for every dollar above these income limits, according to the Bipartisan Policy Cent

📌 What You Should Do

We’ll be factoring these changes into your 2025 tax strategy. If you have life changes (new dependents, major purchases, or business shifts), please let me know — early planning helps us optimize your return.

08/20/2025

"👀 Heard About the Big Beautiful Tax Bill? Here’s What It Means for YOUR Taxes in 2025!"

Provision Benefit in 2025 Return (Filed 2026)

Tips deduction Up to $25K tax-free if qualified

Overtime deduction Up to $12.5K (single) / $25K joint

Senior deduction (65+) Up to $6K deduction

Auto loan interest deduction Up to $10K for qualifying U.S. cars

Enhanced Child Tax Credit $2,200 per child (indexed)

Higher SALT deduction cap Up to $40K deduction (2025–2029)

“Good news! For your 2025 tax return, you qualify for several new tax breaks. You can exclude up to $25,000 in tips and $12,500 in overtime pay from tax. If you're 65 or older, you may deduct up to $6,000. Buying a U.S.-assembled car? You may deduct up to $10,000 in auto loan interest. The child tax credit also rose to $2,200 per child. Plus, the standard deduction and lower rates from 2017 are now permanent. And if you pay a lot in state and local taxes, your deductible cap increased to $40,000. All these apply retroactively for 2025, so we can apply them when we file your return next year.”

01/11/2025

IRS announces Jan. 27, 2025, as the first day to file 2024 taxes.

01/11/2024

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01/10/2024

Tips for choosing a tax pro:

Tax professionals play an essential role for taxpayers and the nation's tax system. There are many types of tax return preparers, including certified public accountants, enrolled agents, attorneys and many others who don't have a professional credential. Preparers should be skilled in tax preparation and accurately filing income tax returns. Taxpayers trust them with their most personal information.
Most tax return preparers provide outstanding and professional tax service. However, choosing the wrong tax return preparer hurts taxpayers financially every year.

01/03/2024

Tips for choosing a tax pro:

Tax professionals play an essential role for taxpayers and the nation's tax system. There are many types of tax return preparers, including certified public accountants, enrolled agents, attorneys and many others who don't have a professional credential. Preparers should be skilled in tax preparation and accurately filing income tax returns. Taxpayers trust them with their most personal information.

Most tax return preparers provide outstanding and professional tax service. However, choosing the wrong tax return preparer hurts taxpayers financially every year.

01/03/2024

01/03/2024

The 12 states that tax Social Security benefits
Let's cut to the chase. Here are the 12 states that do tax Social Security benefits:

Colorado
Connecticut
Kansas
Minnesota
Missouri
Montana
Nebraska
New Mexico
Rhode Island
Utah
Vermont
West Virginia
If you don't see your state on that list, you're in luck! Your state doesn't tax Social Security benefits. But even if your state is on the list, there's a decent chance it won't tax you much, or perhaps at all.

That's because each state has different rules and tax rates for Social Security -- which can change over time. Until recently, for example, North Dakota taxed Social Security, but it no longer does. And legislators in Utah are considering removing their Social Security tax, too.

01/12/2023

Due Dates for 2023 Estimated Tax Payments

Payment When Income Earned in 2023 Due Date
1st Payment January 1 to March 31 April 18, 2023
2nd Payment April 1 to May 31 June 15, 2023
3rd Payment June 1 to August 31 September 15, 2023
4th Payment September 1 to December 31 January 16, 2024

There are some rules that allow you to stray from the set schedule above. For instance, if you pay all your 2023 estimated taxes by April 18, 2023, you're off the hook for the rest of the year. If you file your 2023 tax return by January 31, 2024, and pay the entire balance due with your return, then you don't have to make the final payment for the 2023 that's due January 16, 2024.