April 13, 2026

Taxes deadlines and your 2025 taxes

Taxes deadlines and your 2025 taxes
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Season 4

Tax deadlines what they mean, getting an extension what are the rules and regulations. What options are there in the last minute decisions to save money on taxes. Pay the Tax by April 15th, 6 month extension to file. Health savings account (HAS), Individual Retirement Account (IRA), Simplified Employee Pension Plan (SEP)

Tax Talk 4 U is broadcast live Mondays at 10AM ET and Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Tax Talk 4 U is viewed on Talk 4 TV (www.talk4tv.com).

Tax Talk 4 U Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.

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WEBVTT

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The topics and opinions express in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicit or implies shall be extended to W FOURCY

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Radio or it's employees are affiliates. Any questions or comments

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should be directed to those show hosts. Thank you for

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choosing W FOURCY Radio.

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Barry G.

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Fouler EA brings you tax talk for you right here

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on W four CY Radio and Talkboard TV. As an

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enrolled agent and a national leader in tax resolution as

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well as Trucker bookkeeping and tax planning. With over thirty

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years of experience, Barry will break down taxes, bookkeeping, tax planning,

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and tax relief for individuals and businesses just like you.

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So let's have some tax talk for you with your hosts.

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Barry G. Foul Or.

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Hey, good morning man. It's great to be here. I

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wouldn't say it's the greatest week coming up today that

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many people dread every year. ACT deadline Day, April fifteenth,

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you know, no no extra days this year because it

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didn't fall on the weekend or no holidays or anything else.

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The fifteenth is the deadline. That means you have got

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to get your personal tax returns in or file an

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extension honor before April fifteenth. You know, I also understood

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now that the Post Office isn't actually post marking things

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properly or timely or going to get it done if

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it's after you know, there are hours like they used to.

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So I recommend if you're going to mail in an extension,

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get it in today, even tomorrow, don't wait till the

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fifteenth to file that extension.

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Now, So what does.

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An extension mean? You know, people go, hey, I'm going

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to file an extension. I don't know any money now,

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A da da da da da. Going on from there, Well,

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that extension is just an extension of time to file

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to file your tax return, not an extension of time

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to pay. So if you're going to owe more than

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nine hundred dollars on your tax return when you file

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that extension, you must pay in the remaining balance. Otherwise

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there's penalties and interest going to accrue from April fifteenth forward.

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Doesn't matter when you file it, it's going to backdate

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the April fifteenth when it should have been paid in.

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That's just the way the system works, you know. And

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some people, well, why do we have deadlines? Well, deadlines

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are there to make sure that you get it done

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within the timeframe that the IRS wants. Deadlines are for

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pro procrastinators as well. Many people would file a tax

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return anytime soon if there wasn't a deadline. Some people

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will move off of sitting around doing nothing unless there

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is a deadline. You know, that's just the way life goes.

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You know.

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We sit here at the witching hour, as I would

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call it, or maybe the last couple of witching days,

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trying to get tax returns in and filed for our clients.

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As rapidly as possible.

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A lot of our clients haven't sent in all their information,

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so we're asking them for more information. They're going, are

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we going to get these things filed yet? Well, we've

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been asking you for two months to send this information,

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but you're not going to get off the pot and

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send it to us. And then you expect us to

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do what imagine it, to come up with it magically,

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It doesn't happen. You've got to do some work no

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matter who you're using for prepared maybe, Hey, look, you know,

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maybe you're doing it yourself.

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You're doing it yourself.

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You've got to find the documents, and you know what

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documents you need not all the time. And that's why,

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you know, a lot of our clients that we end

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up representing for IRS resolution because they owe.

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Money, screwed their returns.

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Up majorly using one of those online services out there

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and didn't know what they were doing. So you know,

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you kind of got to watch what you're doing. But

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you need all the tax forms.

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You know.

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Again, let's go back to the deadlines. You know, for

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ten forty April fifteenth is your filing deadline or the

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extension date deadline. April fifteenth is the deadline to make

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your tax payments for twenty twenty five taxes. If you're

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going to owe more than nine hundred dollars, you need

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to make sure you make those payments. April fifteenth is

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also the deadline to make your first estimated tax payment

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for twenty twenty six. Hey, it was the devil that

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created that one. You know, Hey, let's hit them twice.

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You got to pay your twenty five tax bill. And

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you got to start making your twenty six estimated tax

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payments on one day the same day, April fifteenth, So

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you do have those deadlines now. If you're running a

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corporation and you're filing an eleven twenty, you have a

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deadline of April fifteenth as well.

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So if you're.

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Filing form eleven twenty, make sure you're either getting those

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extensions in or you're getting those returns filed now. If

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you have a partnership or you have an escort, you

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had a deadline back in March sixteenth, and if you

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miss that extension deadline now, they're starting to calculate penalties

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for every month that you're late for each and every partner.

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If you did file that extension and.

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You filed back and that extension for partnerships and escorts

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back on March sixteenth, you don't have six months to

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file that return, which makes it September fifteenth, depending on

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where the weekend falls, but you would have to get

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it filed by then. Now, if you file for your

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extension for your personal or your corporation that files the

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eleven twenty for April fifteenth, your next deadline is six

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months out, so that becomes October fifteenth, so you have

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the deadline to get everything done by then. But again,

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remember it's not an extension of time to pay, it's

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just an extension of time to file and then your

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quarterly estimates. So quarterly estimates are required for corporations that

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file eleven twenties and personal So if your your corporation

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ends up paying money every year, or even paid money

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last year, then you may be required to file estimated

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taxes for your corporation as well. Now, when you're making

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your estimated tax payments, if you're in one of those

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dreaded states it has state income tax, you may be

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wired to make estimated tax payments to the state as well. Yep,

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you know everybody wants money. Everybody's going to get their money,

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and you know you, as a taxpayer, is the one

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that's going to pay. You know, get them in, get

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them paid, avoid the penalties. Now, again, if if it's

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a really small amount, or maybe business is slower this

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year than last year, then maybe you got to look

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at how you're going to do your estimate and you

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can modify your estimates based on actual performance versus doing

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you know, the minimum that's required by the I R S.

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You can modify your estimates to actual every quarter, but

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you know you've got to be definitely looking at your

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business or looking at how you're making money to determine

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how much you're going to pay each and every quarter. Now,

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the fun part is when we're talking about estimated tax payments. Yes,

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that first payment is due April fifteenth, but guess what,

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they don't give you three months to make the second payment.

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The second payment is.

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Actually due in June, so it's not truly a quarterly

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type plan. And then September fifteenth, and then the fourth

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one is January fifteenth of twenty twenty seven. So you know,

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make sure you're getting those things done, getting.

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Them thanks filed.

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Now, if you're running a business, to make matters worse,

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you have filings as well. You got nine forty ones

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to file this month. You also have to make sure

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you've made your tax payments for the Social Security, Medicare,

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and federal and state withholding as required based on the

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letter the IRS. Since you every year that says this

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is how you've got to pay it in. We make

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our clients who are on payroll with us pay it

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in with each and every payroll as you go. Surely

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it's a lot easier than coming up with money on

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the fifteenth of the following month if that's what you're

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required to do. So, you know, you just need to

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make sure that, hey, we you dot the i's, cross

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the t's, because payroll taxes can really become burdensome if

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you're missing those payments and not making them on time

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or not filing the forms on time, it can get

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really expensive. And then your federal unemployment and your state

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unemployment are usually due by the end of the month,

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and h state is different. You've got to make sure

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you file those state forms as well. You know, there's

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a lot of things that go on in taxes that

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most people don't think about because if you're a W two,

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you think everything is just coming out of your paytech

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you don't have anything to worry about. But you do

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need to modify and make sure that you have enough

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federal on state withholding out of your check so you're

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not having to oh or you're not getting a bit refund.

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There's the worst thing we see is that people leave

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money with the irs and don't make anything off it,

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don't get any interest or anything else from it, and

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then you finally get your check back, and you could

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have been having use or investing.

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That money as you go. So these are the fun

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things that we get to do.

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We're going to talk a lot more about tax code

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and taxes for twenty twenty five and twenty twenty six

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right after this quick break.

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We have only scratched the surface of today's show. Please

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stand by as Barry chief Fouler will be right back

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with tax talk for you. If you owne the IRS

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or are going through an IRS audit, don't go at

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it alone. Called Taxation Solutions tax Relief at eight eight

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eight nine three zero one zero one six, we are

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your solution for IRS debts, audits, back taxes.

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Garnishments, leans and levees.

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Whether you're individual or business, you need a solution and

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a strong aggressive tax resolution.

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Don't let the IRS walk all over you.

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Stop the IRS now call eight eight eight nine three

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zero one zero one six or go to Taxationsolutions dot

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net now for a free no obligation consultation. Let's get

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back to tax stock for you with more tax stock

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once again, here's your host, Barry G.

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Fowler.

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Hey, welcome back. You know we're talking taxes, taxes and

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more taxes. The other day, I was watching TV or

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the news, and I was kind of amazed that you're

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talking about the president and President Trump and his approval ratings,

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and I just didn't quite understand it, because as a

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person that deals, you know, with taxes, looks at the

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economy and looks at things that are going on, and

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you know, I understand. You know, we've had a little

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bit of war over there, and you know, Iran and

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you know, dealing with that turmoil middle East, and gas

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prices have shot up because of that, you know, but

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the economy as a whole, as we've seen it in

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talking with people, has drastically improved over the prior administration.

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We saw employment going up and through the roof, you know,

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we've seen inflation coming down, you know, and these things

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that have improved, you know, the economy of the US

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and more things starting to be manufactured here within the

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US kind of amazes me. Of those approval ratings. Now,

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some of it has to do with some people didn't

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understan and the rules and regulations behind some of the

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key twenty twenty five tax changes. You know, there are

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so many benefits for people who were working, you know,

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in the hospitality industries. You know, we'll take those that

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work a lot of overtime. Didn't quite understand, you know,

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what the new no tax on overtime or no tax

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on tips, you know rules were, and you know, even

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us as preparers and stuff, didn't understand exactly how they

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were going to designate this on the W two or

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designate this so that you know, you didn't have tax

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on overtime because the only part of overtime that wasn't

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going to be taxed was the halftime. So if you

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get time and half overtime, your regular rate continues to

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get taxed, but the half portion didn't, so the time

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extra was not getting taxed. But they didn't break that

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out on your W two. They didn't even tell people

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how this was going to be calculated. They didn't really

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explain this to people, and people weren't listening either, because

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I know, people only half listen and they hear no

235
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tax on overtime and they don't understand what the full

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rules were, and then they see, hey, I was getting

237
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taxed on my W two, or they see taxes continuing

238
00:14:30.679 --> 00:14:33.120
to come out. It took a little while to get

239
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that adjustment going well. In your W two direst had

240
00:14:37.799 --> 00:14:44.960
zero requirement of companies to actually break out overtime. So

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00:14:45.039 --> 00:14:49.159
when you're going to get your taxes prepared, not only

242
00:14:49.200 --> 00:14:51.840
provide them a copy of your W two, but provide

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them a copy of your last paycheck stub that has

244
00:14:54.960 --> 00:14:59.120
year to date information, and that paycheck stub breaks out

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regular pay and overtime pain. They should go in and

246
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recalculate what that halftime was so that you're not getting

247
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taxed on that and be able to back that out. Now,

248
00:15:10.799 --> 00:15:15.720
they didn't say no security or Medicare tax on it,

249
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no tax, federal tax, little words that they left out. Now,

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00:15:21.759 --> 00:15:23.639
you know, if President Trump would have had his way. Now,

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you got to understand that everything he said going into this,

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you know, no tax on tips, no tax on overtime,

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all gets modified in Congress, that your congressmen have to

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work together to pass the law to be what becomes enforced.

255
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And when they don't work together, you have what's happening

256
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now where Department, Homelands, Security, TSA and all those people

257
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were not getting funded because one party didn't want that

258
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to be funded and is holding up a bill. The

259
00:15:56.679 --> 00:15:59.840
same thing happens with one big beautiful bill there were

260
00:16:00.039 --> 00:16:03.679
any things in this bill that were really really great

261
00:16:03.799 --> 00:16:07.000
but are down a little bit. We're watered down a

262
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little bit because one party did not want what President

263
00:16:11.200 --> 00:16:14.919
Trump was pushing for that would have saved even more

264
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money for the taxpayers than what the one big, beautiful

265
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Bill was already doing. Now, they also had limitations, so

266
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the limitations on no tax on overtime and no tax

267
00:16:27.000 --> 00:16:31.200
on tips. You know, you can deduct up to twelve thousand,

268
00:16:31.399 --> 00:16:35.000
five hundred or twenty five thousand for joint filer of

269
00:16:35.159 --> 00:16:39.679
qualified overtime pay, and the same thing, a deduction up

270
00:16:39.720 --> 00:16:44.440
to twenty five thousand and qualified tip income is available. Well,

271
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so there are some limitations on what the overtime is

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and the overtime rate was, so you know, if you're

273
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hitting the limits, it means you worked a lot of

274
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overtime and and a lot of halftime gets into that

275
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and got you to a really big amount.

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Now.

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You know, when we were talking to people, they didn't

278
00:17:06.759 --> 00:17:11.839
understand car loan interests. You know, they talked about car

279
00:17:11.920 --> 00:17:17.400
loan interest deduction, and you can now deduct interest on

280
00:17:17.480 --> 00:17:20.440
your car loans, but only on cars that were purchased

281
00:17:20.440 --> 00:17:25.319
after January one, twenty twenty five and only for US

282
00:17:25.599 --> 00:17:31.000
assembled personal vehicles. You got to look and see where

283
00:17:31.039 --> 00:17:34.839
your car was put together. Was it assembled in Mexico?

284
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You don't get the deduction. Assembled here in the US

285
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you get the deduction. The distinguishment is where the car

286
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was assembled. You know, you could be buying a Honda

287
00:17:46.960 --> 00:17:50.400
and assembled here, you might get the deduction. You are

288
00:17:50.440 --> 00:17:53.039
going to get the deduction, but if that car was

289
00:17:53.200 --> 00:17:56.799
assembled Mexico or overseas, then you're not getting the deduction.

290
00:17:57.240 --> 00:17:59.480
You may buy a Ford or Chevy and if it's

291
00:17:59.480 --> 00:18:02.559
assembled here you get the deduction, but if it was

292
00:18:02.599 --> 00:18:06.160
assembled down at Mexico, you're not getting the deduction. So

293
00:18:06.400 --> 00:18:10.759
you have to actually get them to disclose where this

294
00:18:10.880 --> 00:18:17.160
car was manufacturing assembled. Again, it's promoting US workers work

295
00:18:17.319 --> 00:18:23.279
done here at factories here in the United States, pro

296
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growth items, pro American items. Let's you know see where

297
00:18:29.759 --> 00:18:32.319
we were. You know, when I was growing up many

298
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moons ago, I mean, you know, it was the best

299
00:18:35.640 --> 00:18:38.680
products that were made were made here in the United States.

300
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But people got where they would rather buy cheaper products.

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And you see now products we're out a lot faster

302
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than the products that sometimes we grew up with. Way

303
00:18:51.680 --> 00:18:55.119
back in the day, and you know, maybe you can

304
00:18:55.119 --> 00:18:58.559
fault it for the kind of electronics that they use now,

305
00:18:58.599 --> 00:19:01.720
and they're using more gadget it's in these machines. I know,

306
00:19:01.799 --> 00:19:03.720
my washer and dryer that we just bought a few

307
00:19:03.799 --> 00:19:08.319
years ago actually has Wi Fi in it or Bluetooth

308
00:19:08.319 --> 00:19:10.839
in it or whatever it is. I can actually control

309
00:19:11.480 --> 00:19:16.000
washer or dryer from my phone. Why, I mean, you know,

310
00:19:16.440 --> 00:19:19.079
it's just kind of strange. I can connect to my

311
00:19:19.119 --> 00:19:24.599
fridge with my phone. It just adds to future problems

312
00:19:25.079 --> 00:19:28.039
within that machine of things, other things that can go wrong.

313
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You know, it's just the way life is. You know,

314
00:19:31.279 --> 00:19:35.200
everybody wants more modern conveniences, so therefore they update the

315
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technology and things that her basic necessities here in life.

316
00:19:40.279 --> 00:19:42.000
You know, refrigerator, washer, dryer.

317
00:19:42.359 --> 00:19:44.440
I guess you could use the old washboards and you

318
00:19:44.480 --> 00:19:47.279
don't have to worry about Wi Fi or power or

319
00:19:47.279 --> 00:19:51.680
anything else. All you need is water or hot water

320
00:19:51.799 --> 00:19:54.000
and some soap and you can go out and do

321
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that and hang it up on a line. That would

322
00:19:57.480 --> 00:20:00.240
be getting back into some of the older days the

323
00:20:00.480 --> 00:20:04.559
people used to do way back when before the washers

324
00:20:04.559 --> 00:20:07.920
and dryers were there. Can you imagine doing that No,

325
00:20:08.240 --> 00:20:10.480
I can't imite. I don't know that you could either.

326
00:20:11.079 --> 00:20:13.240
But it's kind of fun to things, you know, to

327
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talk about, you know, it's those fun gadgets and stuff.

328
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Ben had a question.

329
00:20:20.559 --> 00:20:23.000
Here are you saying when we go to purchase a vehicle,

330
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we need to ask where they put it together. Absolutely,

331
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you need to ask them where this vehicle was assembled

332
00:20:32.079 --> 00:20:33.640
or you buy it if you want to be able

333
00:20:33.680 --> 00:20:37.880
to get the car Loan interest deduction. That deduction is

334
00:20:38.000 --> 00:20:40.839
up to ten thousand interest on loans for the US.

335
00:20:41.960 --> 00:20:47.119
You know again, vehicles assembled right here in the United States,

336
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So you should ask that question if you're really looking

337
00:20:50.480 --> 00:20:53.839
to get this deduction. It depends on what kind of

338
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car you're going to be buying as well, to see

339
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if they even manufacture them them here in the United States.

340
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We're going to keep talking about other deductions and other

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things for twenty twenty five and get into some twenty

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twenty six right after this break.

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We have only scratched the surface of today's show. Please

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stand by as Barry Chief Fowler will be right back with.

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Tax talk for you.

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00:21:22.640 --> 00:21:25.759
As an owner operator, you already spend too much time

347
00:21:25.799 --> 00:21:29.599
away from your family. Trucker tax Tools handles all your

348
00:21:29.599 --> 00:21:32.839
bookkeeping and taxes. No matter what level trucker you are.

349
00:21:33.079 --> 00:21:36.279
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350
00:21:36.319 --> 00:21:39.680
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351
00:21:40.200 --> 00:21:44.119
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352
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Trucker tax Tools dot com for a free guide that

353
00:21:47.079 --> 00:21:50.680
will give you the tools to never worry about your

354
00:21:50.720 --> 00:21:55.319
taxes again. Call Trucker Tax Tools eight seven seven nine

355
00:21:55.400 --> 00:21:59.519
sixty six two four seven seven, or go to Trucker

356
00:21:59.559 --> 00:22:02.759
Tax to rules dot com now and let the experts

357
00:22:02.880 --> 00:22:08.720
keep you trucking. Let's get back to tax stock for

358
00:22:08.839 --> 00:22:11.680
you with more tax stock once again.

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Here's your host, Barry Chief Allum, Hey, welcome.

360
00:22:17.720 --> 00:22:18.160
Back, man.

361
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I love the questions that are coming in or even comments.

362
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We got a great one from Bonnie. You don't need

363
00:22:23.279 --> 00:22:25.599
all that stuff to be on Wi Fi, Hey, Bonnie,

364
00:22:25.640 --> 00:22:28.160
I one hundred percent degree. I never connected any of

365
00:22:28.160 --> 00:22:30.920
my stuff to Wi Fi or Bluetooth or my phone.

366
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You know.

367
00:22:32.799 --> 00:22:34.279
I don't want it to be on there. I could

368
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care less about it, you know. But this is kind

369
00:22:37.839 --> 00:22:39.359
of interesting when you go out there and buy a

370
00:22:39.359 --> 00:22:40.960
new washer or dryer, and all of a sudden you

371
00:22:40.960 --> 00:22:43.400
can see. You can add it to your phone and

372
00:22:43.559 --> 00:22:46.720
control it remotely. Hey, if I put stuff in the

373
00:22:46.839 --> 00:22:48.799
washer and it goes to wash, I just push the

374
00:22:48.839 --> 00:22:51.960
buttons and say, hey, you know, wash it. I'm not

375
00:22:52.000 --> 00:22:55.920
planning on, you know, walking away and controlling it my phone.

376
00:22:56.119 --> 00:22:57.640
I guess it would be kind of cool. Maybe you

377
00:22:57.640 --> 00:23:01.000
can play games on your washer too, who knows.

378
00:23:01.079 --> 00:23:02.799
These days, I've seen.

379
00:23:02.640 --> 00:23:05.559
Refrigerators where they have that little magic board on it,

380
00:23:06.039 --> 00:23:09.440
write notes, do things. And I don't need those gadgets

381
00:23:09.519 --> 00:23:13.880
on my refrigerator. I don't need to be able to

382
00:23:14.079 --> 00:23:16.920
access apps on my refrigerator. I just needed to keep

383
00:23:17.240 --> 00:23:19.920
my food cold and my other stuff frozen.

384
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That's all I needed to do.

385
00:23:23.240 --> 00:23:27.519
And maybe make ice take that modern luxury out there

386
00:23:27.720 --> 00:23:31.839
as well. Vince, you asked Ken, and will the dealer

387
00:23:31.960 --> 00:23:35.400
answer that question on each car they carry? And should

388
00:23:35.440 --> 00:23:38.920
you request that information? You should absolutely request the information,

389
00:23:39.440 --> 00:23:43.720
and yes, the dealer should be able to answer that

390
00:23:43.839 --> 00:23:48.119
question on each and every car they carry. You know,

391
00:23:48.240 --> 00:23:51.799
those are the kind of things that when you're there

392
00:23:51.799 --> 00:23:55.160
at a dealership ask them because it becomes important and

393
00:23:55.240 --> 00:23:57.279
maybe you can use it to your advantage because you

394
00:23:57.359 --> 00:24:01.599
can't get the tax deduction for interest, Uh, to get

395
00:24:01.640 --> 00:24:03.960
them to us at the price somehow to sell you

396
00:24:04.039 --> 00:24:06.240
a vehicle because you're going to go buy an American

397
00:24:06.720 --> 00:24:11.200
assembled vehicle versus buying their vehicle. Hey, you use everything

398
00:24:11.240 --> 00:24:16.839
tear me. You know, part of negotiation. And as President

399
00:24:16.839 --> 00:24:19.200
Trump said before, it's the art of the deal. Every

400
00:24:19.200 --> 00:24:22.079
time you're going in to buy a vehicle, a house,

401
00:24:23.119 --> 00:24:26.240
any major purchase out there, sometimes it's all about the

402
00:24:26.359 --> 00:24:28.839
art of the deal and finding the deals you.

403
00:24:28.799 --> 00:24:29.519
Know that are there.

404
00:24:29.960 --> 00:24:31.839
You know, as I tell my kids, you know, when

405
00:24:31.880 --> 00:24:35.440
they're negotiating on you know, their first car. You know,

406
00:24:35.440 --> 00:24:38.400
when you walk into a dealership and stuff. You know,

407
00:24:38.519 --> 00:24:42.759
it's hey, you need this car, you need this vehicle,

408
00:24:43.119 --> 00:24:46.920
you need this, you need that. Now I have a

409
00:24:46.960 --> 00:24:49.519
car that runs. I don't absolutely have to have this,

410
00:24:49.599 --> 00:24:52.599
and I don't need it. This is more of a want.

411
00:24:53.200 --> 00:24:56.920
And if I want it, then I want it at

412
00:24:57.039 --> 00:24:58.880
the price I wanted at.

413
00:24:58.839 --> 00:25:00.599
So we can negotiate. You know.

414
00:25:00.680 --> 00:25:04.319
We've walked away from from many a deals, you know,

415
00:25:04.359 --> 00:25:07.519
and it's kind of amazing because you know, sometimes my

416
00:25:07.599 --> 00:25:10.079
wife shakes her head and just guys, why. You know,

417
00:25:10.160 --> 00:25:12.680
we were sitting at a dealership a few years ago,

418
00:25:12.880 --> 00:25:15.880
negotiating on a vehicle that they actually had to bring in.

419
00:25:16.279 --> 00:25:19.559
It wasn't here local, and they made a mistake.

420
00:25:19.759 --> 00:25:21.440
You know, we were getting close to the deal, and

421
00:25:21.480 --> 00:25:24.920
then they wanted a non refundable deposit because I'd have

422
00:25:25.000 --> 00:25:27.759
to buy the vehicle even if they wrecked it bringing

423
00:25:27.799 --> 00:25:31.359
it to their dealership, and if I didn't buy it,

424
00:25:31.400 --> 00:25:34.720
they would keep my deposit. I walked away, went and

425
00:25:34.720 --> 00:25:38.119
found a vehicle somewhere else and negotiated on this the

426
00:25:38.200 --> 00:25:41.079
last one we did. You know, we were at the dealership.

427
00:25:41.119 --> 00:25:44.440
We negotiated and had a set price on the phone

428
00:25:44.519 --> 00:25:46.920
with the dealership. Got down to the dealership and they

429
00:25:47.039 --> 00:25:49.799
changed the price and the guy said he never gave

430
00:25:49.880 --> 00:25:52.519
us that price on the phone. We walked away from

431
00:25:52.519 --> 00:25:55.119
the deal general manager of the place ended up making

432
00:25:55.119 --> 00:25:57.799
the deal with us at the price they pulld us

433
00:25:57.839 --> 00:26:02.039
on the phone. So it's you know, having the desire

434
00:26:02.160 --> 00:26:05.880
to get something new, but also having the ability to

435
00:26:05.920 --> 00:26:10.640
realize that, hey, you can walk away, Hey Bonnie, Yes,

436
00:26:11.240 --> 00:26:14.119
you know I feel the same thing. You know, having

437
00:26:14.200 --> 00:26:18.319
Wi Fi and Bluetooth and things on your washer, dryer,

438
00:26:18.720 --> 00:26:21.480
everything else. Sometimes even the cameras on the TVs and

439
00:26:21.559 --> 00:26:24.480
computers and stuff, just another way to watch every move

440
00:26:24.559 --> 00:26:29.039
you make and tracking you. I mean your computers. You know,

441
00:26:29.519 --> 00:26:32.920
when you're online, they're tracking you for everything. You know,

442
00:26:33.000 --> 00:26:36.480
sometimes it amazes me. And I've had advertisers, and you know,

443
00:26:36.519 --> 00:26:39.880
we try to do advertising specific to you know, truckers,

444
00:26:40.039 --> 00:26:44.880
owner operators for bookkeeping and taxes, and you know, we

445
00:26:45.000 --> 00:26:48.440
give people that mentioned this show tax talk for you

446
00:26:48.640 --> 00:26:51.440
discounts at truck or tax tools, you know, on their

447
00:26:51.440 --> 00:26:54.519
bookkeeping and taxes just for listening to us.

448
00:26:55.000 --> 00:26:57.200
But you know, it kind of amaze me.

449
00:26:57.440 --> 00:27:00.559
You know, if you're on one of these sites that

450
00:27:00.960 --> 00:27:05.880
are selling goods or services or you know, talking about say.

451
00:27:05.720 --> 00:27:06.680
A new vacuum.

452
00:27:06.960 --> 00:27:08.680
Next time I'm on the sites, all of a sudden,

453
00:27:08.720 --> 00:27:12.680
I'm seeing advertising for vacuums. So you know people are listening.

454
00:27:12.839 --> 00:27:15.799
You know, they figured it out and how they can

455
00:27:15.960 --> 00:27:19.960
key around advertising around what you do, maybe even what

456
00:27:20.039 --> 00:27:23.039
you're searching, and maybe even what you're talking about. The

457
00:27:23.079 --> 00:27:26.519
advertiser one day was sitting in my office and talking

458
00:27:26.519 --> 00:27:29.359
about and that does not happen. I said, well, let's

459
00:27:29.359 --> 00:27:32.279
talk about a random product. We talked about a random product.

460
00:27:32.400 --> 00:27:34.799
He called me the next day and he goes Man.

461
00:27:34.839 --> 00:27:38.279
You know what, I was seeing ads for that product

462
00:27:38.519 --> 00:27:41.319
that you and I talked about, and I have never

463
00:27:41.519 --> 00:27:44.759
ever searched for that product. Hey, I tell you people

464
00:27:44.759 --> 00:27:47.960
who are listening. You know, we we keep location on

465
00:27:48.000 --> 00:27:50.480
our phones because we want to make sure our kids

466
00:27:50.519 --> 00:27:52.640
are safe and some of them are traveling here and there,

467
00:27:52.720 --> 00:27:55.640
so you know, we do pay attention to some of that,

468
00:27:56.880 --> 00:27:58.759
but a lot of times we turn other things off

469
00:27:58.799 --> 00:28:01.440
on our phones, and we and act privacy on our

470
00:28:01.440 --> 00:28:05.160
phones because it really shouldn't be to where people are

471
00:28:05.240 --> 00:28:07.480
tracking us. But that's just my opinion. It may not

472
00:28:07.599 --> 00:28:10.799
be your opinion or anybody else's opinion out there. You know,

473
00:28:11.319 --> 00:28:14.519
we're conservative and want to make sure that, you know,

474
00:28:15.000 --> 00:28:19.319
our kids and our family is safe, including our grandkids.

475
00:28:19.359 --> 00:28:21.359
I mean, I know how bad it's going to be,

476
00:28:21.640 --> 00:28:25.720
you know, for our grandkids. We know how how much

477
00:28:26.160 --> 00:28:28.759
this country owes and what the dead is for each

478
00:28:28.799 --> 00:28:32.599
and every person in the United States, and we know

479
00:28:32.680 --> 00:28:37.440
what that's going to hold for the future for you know,

480
00:28:37.480 --> 00:28:40.319
not just our kids, but our grandkids and our great grandkids.

481
00:28:40.519 --> 00:28:42.960
You know, this country needs to stop spending money like

482
00:28:43.039 --> 00:28:46.480
running water and needs to rein in you know what

483
00:28:46.519 --> 00:28:51.960
they're doing overspending. You and I can't overspend. You know,

484
00:28:52.240 --> 00:28:55.799
if you overspend by double what your salary is and

485
00:28:55.839 --> 00:28:59.440
what double what you family brings in, you're broke, your

486
00:28:59.480 --> 00:29:02.519
bankrupt here done. You just can't afford to do that.

487
00:29:02.960 --> 00:29:06.279
Overspending every single year and just continuing to add debt

488
00:29:06.440 --> 00:29:09.559
into your family is going to be you know, in

489
00:29:09.559 --> 00:29:12.880
the nail in the coffin for you know, retirement in

490
00:29:13.319 --> 00:29:15.400
your future. You know, we got to get back to

491
00:29:15.480 --> 00:29:19.519
living within our means, get back to living within what

492
00:29:19.559 --> 00:29:23.319
we make and being able to put money aside for

493
00:29:23.720 --> 00:29:26.240
the retirement. Social Security isn't the be all and all.

494
00:29:26.279 --> 00:29:29.160
It never was meant to be the be all and all.

495
00:29:29.200 --> 00:29:31.160
It was meant to be a safety net. But they

496
00:29:31.160 --> 00:29:34.599
collect more and more and more money from you and

497
00:29:34.640 --> 00:29:38.400
I and the employers every single paycheck.

498
00:29:38.839 --> 00:29:40.319
And what do they do.

499
00:29:40.400 --> 00:29:44.160
They don't stuck that money away for retirement for you

500
00:29:44.240 --> 00:29:48.799
and I. They spend that money frivolously within the government.

501
00:29:49.359 --> 00:29:52.680
And you know, I'm kind of amazed. There are a

502
00:29:52.720 --> 00:29:57.160
lot of things that me as a US citizen, would

503
00:29:57.160 --> 00:30:01.359
love to see changed. You know, the term it's for congressman,

504
00:30:01.759 --> 00:30:06.599
you know, limitations on what every US government worker is

505
00:30:06.640 --> 00:30:09.200
going to get in pensions. They should be in social

506
00:30:09.240 --> 00:30:12.960
security just like you and I. Government shouldn't have had

507
00:30:13.200 --> 00:30:17.440
its own little pension program. It should be the same

508
00:30:17.640 --> 00:30:22.160
as our pension program here as US citizens. There was

509
00:30:22.240 --> 00:30:26.240
no two classes of people, the politicians and us every

510
00:30:26.319 --> 00:30:29.039
day American. I know I'm getting on my sellbox and

511
00:30:29.079 --> 00:30:32.559
we're not talking taxes, but it impacts you and I

512
00:30:32.599 --> 00:30:38.599
and our taxes because you know government, Congressman, senators, getting

513
00:30:38.640 --> 00:30:42.279
this isn't necessarily working. All right, I should get off

514
00:30:42.319 --> 00:30:44.640
my seabbox. We're going to get back to talking taxes.

515
00:30:44.839 --> 00:30:46.680
We're going to take a short break and we're going

516
00:30:46.720 --> 00:30:49.880
to talk more about changes for twenty twenty five and

517
00:30:49.920 --> 00:30:51.880
twenty twenty six right after this.

518
00:30:53.319 --> 00:30:56.960
We have only scratched the surface of today's show. Please

519
00:30:57.000 --> 00:31:01.359
stand by as Barry Chief Bowler will be right with Taxtock.

520
00:31:01.440 --> 00:31:07.279
For you, as an owner operator, you already spend too

521
00:31:07.359 --> 00:31:11.240
much time away from your family. Trucker tax tools handles

522
00:31:11.319 --> 00:31:12.960
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523
00:31:13.000 --> 00:31:14.920
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524
00:31:15.160 --> 00:31:18.359
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525
00:31:18.400 --> 00:31:21.319
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526
00:31:21.359 --> 00:31:26.000
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527
00:31:26.160 --> 00:31:28.920
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528
00:31:29.000 --> 00:31:32.559
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529
00:31:32.599 --> 00:31:36.759
your taxes again. Call Trucker Tax Tools eight seven seven

530
00:31:37.160 --> 00:31:41.160
nine sixty six two four seven seven or go to

531
00:31:41.240 --> 00:31:44.839
Trucker tax Tools dot com now and let the experts

532
00:31:44.960 --> 00:31:45.839
keep you trucking.

533
00:31:48.960 --> 00:31:51.759
Let's get back to tax stock for you with more

534
00:31:51.920 --> 00:31:56.759
tax stock once again, here's your host, Barry G. Fowler.

535
00:31:59.599 --> 00:32:02.319
Jeff, thanks for the comment. You're actually enjoyed myself.

536
00:32:02.400 --> 00:32:03.519
Boxing. Hey.

537
00:32:03.599 --> 00:32:06.480
You know, sometimes we get to talking about things that

538
00:32:07.039 --> 00:32:12.039
affect you and I and everyday Americans and it has

539
00:32:12.119 --> 00:32:17.880
the has a lasting impact. And you know, growing up

540
00:32:18.079 --> 00:32:22.000
when I grew up, you know, you've seen the changes

541
00:32:22.519 --> 00:32:27.440
in American politics, you know, throughout the years, and you've

542
00:32:27.440 --> 00:32:30.160
seen some of these people serving probably as long as

543
00:32:30.240 --> 00:32:33.599
I've been around, and you know, it's just amazed that,

544
00:32:34.119 --> 00:32:37.200
you know, people can do that. But anyway, what else

545
00:32:37.279 --> 00:32:39.559
changed now? You know, one of the other big changes

546
00:32:39.880 --> 00:32:44.039
was the senior deduction. They added a deduction to make

547
00:32:44.200 --> 00:32:46.640
Social Security non taxed.

548
00:32:47.079 --> 00:32:48.480
Supposedly, Now, what.

549
00:32:48.400 --> 00:32:52.200
They really did is gave a six thousand dollars deduction

550
00:32:52.359 --> 00:32:56.759
for seniors. Now, they didn't say at that time that

551
00:32:56.839 --> 00:32:59.880
you had to be sixty five. They were kept promoting

552
00:32:59.880 --> 00:33:03.720
it is social Security would not be tax but they

553
00:33:03.759 --> 00:33:06.839
gave you this sixty six thousand dollars deduction for seniors

554
00:33:06.920 --> 00:33:10.079
age sixty five and older. So if you retired and

555
00:33:10.079 --> 00:33:14.640
started taking Social Security at sixty two and you're not

556
00:33:15.000 --> 00:33:20.720
sixty five yet, you're not getting that six thousand dollars deduction. See,

557
00:33:20.880 --> 00:33:24.559
somebody change the rules a little bit from what Trump

558
00:33:24.720 --> 00:33:29.039
was saying to what actually happened. And then there were

559
00:33:29.079 --> 00:33:32.359
phase outs for that too. So not everybody and not

560
00:33:32.519 --> 00:33:36.720
every senior was getting that deduction because they weren't going

561
00:33:36.799 --> 00:33:42.039
to let those that make more money qualify for this deduction.

562
00:33:42.519 --> 00:33:47.839
They'd taken away and capping it, you know, so there

563
00:33:47.880 --> 00:33:51.519
are caps to things, limits to things, and makes people

564
00:33:51.559 --> 00:33:55.240
that make more money pay more taxes in Now, the

565
00:33:55.279 --> 00:33:58.680
other thing that really helped people in states that have

566
00:33:58.839 --> 00:34:05.240
a high state local tax was a deduction or state

567
00:34:05.279 --> 00:34:09.280
and local taxes was increased to forty thousand. It was

568
00:34:09.360 --> 00:34:12.239
ten thousand, it went up to forty thousand. So if

569
00:34:12.280 --> 00:34:16.760
you're high in property taxes or maybe high in state

570
00:34:16.840 --> 00:34:21.360
income taxes or a combination of both. You know, you

571
00:34:22.000 --> 00:34:25.159
now got more of a deduction, and maybe you'll be

572
00:34:25.199 --> 00:34:29.599
able to itemize, whereas prior years you might not have

573
00:34:29.599 --> 00:34:31.400
been able to itemize because of that.

574
00:34:31.440 --> 00:34:33.719
Salt cap out there.

575
00:34:34.280 --> 00:34:37.440
That being said, we've seen more people itemizing from states

576
00:34:37.440 --> 00:34:40.760
that actually have state income tax and especially if you've

577
00:34:40.800 --> 00:34:43.519
taken a mortgage out in any time in the last

578
00:34:44.280 --> 00:34:48.559
few years. Now for twenty twenty six, you know, we're

579
00:34:48.599 --> 00:34:51.880
seeing a lot of the same things are still there.

580
00:34:53.239 --> 00:34:56.880
Standard deduction though, is going to increase to sixteen thousand,

581
00:34:57.199 --> 00:35:01.480
one hundred and thirty two thousand, two hundred for married

582
00:35:01.639 --> 00:35:09.039
filing jointly. That is up from thirty one to five

583
00:35:09.599 --> 00:35:15.119
for married couples in fifteen seven fifty four singles. Not

584
00:35:15.480 --> 00:35:19.599
much of an increase, but every little bit helps. The

585
00:35:19.760 --> 00:35:22.320
Child tax Credit is going to be twenty two hundred

586
00:35:22.400 --> 00:35:27.559
dollars and we'll be indexed for inflation. That senior deduction

587
00:35:27.800 --> 00:35:32.440
is still there. It's still for those only sixty five

588
00:35:32.559 --> 00:35:36.599
and older, and you know it's that six thousand dollars deduction,

589
00:35:36.719 --> 00:35:42.559
and then again still subject to income phase outs.

590
00:35:44.880 --> 00:35:45.559
Sorry about that.

591
00:35:47.199 --> 00:35:49.719
Now, you know those those phase out will be there,

592
00:35:49.840 --> 00:35:52.679
and I think this deduction only stays through twenty twenty eight,

593
00:35:52.719 --> 00:35:55.880
and it would have to be dude, no tax on

594
00:35:55.960 --> 00:35:59.440
overtime and tips. That deduction for twenty twenty six is

595
00:35:59.519 --> 00:36:03.719
up to still twenty five thousand or twelve thousand, five

596
00:36:03.800 --> 00:36:09.599
hundred for individuals, so you know, you do have limitations

597
00:36:09.679 --> 00:36:14.760
there on no tax on overtime, no tax on tips

598
00:36:15.000 --> 00:36:19.519
is up to twenty five thousand for qualified tips as well.

599
00:36:20.880 --> 00:36:24.440
They did a huge increase in the salt cap deduction.

600
00:36:24.800 --> 00:36:28.199
It went from forty thousand to forty thousand, four hundred.

601
00:36:28.599 --> 00:36:33.119
I was just kidding about the huge you know, but

602
00:36:33.480 --> 00:36:34.920
got to have a little bit of humor when you're

603
00:36:34.960 --> 00:36:37.360
dealing with taxes somewhere out there.

604
00:36:37.760 --> 00:36:38.920
Charitable contributions.

605
00:36:38.960 --> 00:36:43.360
This is new for twenty twenty six, so twenty five

606
00:36:43.679 --> 00:36:47.559
and before you actually had to itemize. Now, there was

607
00:36:47.639 --> 00:36:50.920
one year or two years back, a few years ago

608
00:36:51.000 --> 00:36:54.199
that they allowed up to six hundred dollars deduction above

609
00:36:54.239 --> 00:36:58.679
and beyond the itemized above and beyond the standard deduction

610
00:36:58.960 --> 00:37:02.039
for charitable country usance. You know, one of the things

611
00:37:02.079 --> 00:37:05.840
in a big impact that the Trump tax code had

612
00:37:05.880 --> 00:37:09.360
back in twenty seventeen when it was first enacted, was

613
00:37:10.480 --> 00:37:14.360
very few people unless you had a lot of mortgage interest,

614
00:37:15.360 --> 00:37:18.559
were itemizing because of the limitations for the salt cap.

615
00:37:18.679 --> 00:37:22.320
And you know how high that standard deduction is. You

616
00:37:22.320 --> 00:37:25.559
know you've got to get over that. In twenty twenty six,

617
00:37:26.039 --> 00:37:29.639
you know the thirty two two hundred. Well, if you

618
00:37:29.679 --> 00:37:33.280
can't get over that, then you had no deduction for

619
00:37:33.400 --> 00:37:36.039
charitable contributions. And so what do you think that did

620
00:37:36.119 --> 00:37:40.440
to charitable contributions? You're right, it lowered the amount of

621
00:37:40.440 --> 00:37:44.480
people were giving the charities. How do you fix it, Well,

622
00:37:44.480 --> 00:37:48.679
you fix it by allowing a certain amount of money

623
00:37:48.800 --> 00:37:52.960
to be deducted regardless of whether you itemize or you

624
00:37:53.000 --> 00:37:56.400
take standard deduction. So in the One Big Beautiful Bill,

625
00:37:57.400 --> 00:38:01.599
this is allowing non itemizers. You're taking the standard deduction

626
00:38:01.960 --> 00:38:05.000
to deduct up to one thousand dollars if you're single,

627
00:38:05.639 --> 00:38:11.639
or two thousand if you're filing jointly. In cash donations

628
00:38:11.679 --> 00:38:15.320
to charity, so this is not where you can take

629
00:38:15.519 --> 00:38:18.400
you know, what you give to goodwill is non cash items. No,

630
00:38:18.400 --> 00:38:21.119
none of that can go here. It actually has to

631
00:38:21.159 --> 00:38:26.639
be cash. You know what qualifies as cash, check, credit card,

632
00:38:26.719 --> 00:38:32.679
debit card, All that considers to be cash or girl

633
00:38:33.000 --> 00:38:35.920
hard cash. You know you can do that as well.

634
00:38:36.320 --> 00:38:38.559
I suggest you do some tracking on it and make

635
00:38:38.679 --> 00:38:41.800
sure that you have that if you're taking this deduction,

636
00:38:42.000 --> 00:38:45.039
just like we say support everything else. If you're going

637
00:38:45.079 --> 00:38:48.559
to church and they can give you envelopes, you submitted

638
00:38:48.599 --> 00:38:51.280
through an envelope. That way they do tracking for you

639
00:38:51.320 --> 00:38:54.119
and send you the form that says you gave X

640
00:38:54.199 --> 00:38:56.920
number of dollars that are out there, so you know

641
00:38:56.960 --> 00:39:00.760
there is some tracking and benefit to doing that.

642
00:39:02.360 --> 00:39:02.599
You know.

643
00:39:03.119 --> 00:39:05.760
So there are things that you need to do and

644
00:39:05.840 --> 00:39:07.880
can do that's going to save you money in twenty

645
00:39:07.920 --> 00:39:12.800
twenty six. Now retirement the limits are increasing in twenty

646
00:39:12.840 --> 00:39:15.880
twenty six. That means the IRA contributions are going up

647
00:39:15.960 --> 00:39:18.960
to seventy five hundred or eighty six hundred if you're

648
00:39:19.000 --> 00:39:20.960
over fifty, So they give you a little bit of

649
00:39:21.400 --> 00:39:26.480
ability to catch up your IRA contributions. If you are

650
00:39:26.679 --> 00:39:31.559
over fifty years old, now four h win A contributions.

651
00:39:31.599 --> 00:39:34.400
You can contribute up to twenty four thousand or up

652
00:39:34.440 --> 00:39:37.519
to thirty two thousand, five hundred if you're over fifty.

653
00:39:38.840 --> 00:39:42.079
Really nice thing to do. Now if you're young, maybe

654
00:39:42.079 --> 00:39:44.119
you just got out of high school and you started

655
00:39:44.119 --> 00:39:45.800
your job, or you got out of college and you

656
00:39:45.840 --> 00:39:48.360
started your new job, and the first thing they give

657
00:39:48.440 --> 00:39:53.599
you is your benefit options and things like that, and hey,

658
00:39:53.639 --> 00:39:55.559
if you're a W two and you've got an option

659
00:39:55.639 --> 00:39:58.239
to contribute to your four O one K, do it,

660
00:39:58.800 --> 00:40:01.960
do it from day one one, because when it comes

661
00:40:01.960 --> 00:40:04.880
out of your check the first time you feel it,

662
00:40:05.320 --> 00:40:08.599
oh wow, that's just the same as Hey, the very

663
00:40:08.599 --> 00:40:11.280
first check you get when you're working, and all of

664
00:40:11.280 --> 00:40:13.599
a sudden you see that they take out seven and

665
00:40:13.599 --> 00:40:16.400
a half percent for Social Security and Medicare right off

666
00:40:16.440 --> 00:40:19.239
the out, and then they take out money for federal

667
00:40:19.280 --> 00:40:23.039
income tax and then maybe state income tax, and you realize,

668
00:40:23.280 --> 00:40:26.719
oh my gosh, I'm being taxed. But two checks, three

669
00:40:26.760 --> 00:40:29.360
checks down the road, you don't feel it. You don't

670
00:40:29.400 --> 00:40:32.480
pay attention. Why do you think the girl government says, hey,

671
00:40:32.519 --> 00:40:35.920
we want you to withhold taxes from their paycheck and

672
00:40:35.960 --> 00:40:39.719
not make everybody pay in estimated taxes. See, if everybody

673
00:40:39.760 --> 00:40:43.960
had to write a check for estimated taxes every single quarter,

674
00:40:44.480 --> 00:40:47.119
you'd be voting differently because you would be going, I

675
00:40:47.199 --> 00:40:49.559
don't want to be taxed. And the more you make,

676
00:40:49.599 --> 00:40:51.679
the more tax you're paying and you keep doing this,

677
00:40:52.199 --> 00:40:56.039
it would be impactful. So you start making that payment

678
00:40:56.119 --> 00:40:59.119
in contribution into your four to oh one K at

679
00:40:59.159 --> 00:41:02.880
the maximount that you can off your check. After the

680
00:41:02.880 --> 00:41:04.960
first couple of texts, you don't feel it, you don't

681
00:41:05.000 --> 00:41:08.519
notice it, but it accumulates. You can easily become a

682
00:41:08.559 --> 00:41:11.880
millionaire of doing this and never touching your four oh

683
00:41:11.960 --> 00:41:15.239
one K until you get to retirement. Imagine what it

684
00:41:15.239 --> 00:41:17.280
would be if you could actually afford to put twenty

685
00:41:17.320 --> 00:41:19.679
four thousand, five hundred into your four oh one K

686
00:41:20.119 --> 00:41:22.599
every year. But even if you're only putting the seventy

687
00:41:22.599 --> 00:41:25.440
five hundred or eight thousand into it, and the company's

688
00:41:25.519 --> 00:41:29.480
matching some percentage of it, they're giving you more money

689
00:41:29.519 --> 00:41:34.360
to be able to do what sock away money for

690
00:41:35.400 --> 00:41:39.599
your future retirement might rely on the government for retirement

691
00:41:39.639 --> 00:41:42.599
when you should be relying on yourself and social Security

692
00:41:42.719 --> 00:41:45.960
just supplements what you've been socking away for all those

693
00:41:46.119 --> 00:41:49.199
years to be able to do it now, your limitations

694
00:41:49.239 --> 00:41:52.679
four to one K again is twenty four thousand, five hundred.

695
00:41:53.039 --> 00:41:55.800
If you're over fifty, it actually jumps up to thirty

696
00:41:55.840 --> 00:42:00.480
two thousand, five hundred, and then age sixty to sixty three,

697
00:42:00.719 --> 00:42:01.119
you can.

698
00:42:01.000 --> 00:42:01.639
Have a catchup.

699
00:42:02.039 --> 00:42:05.559
You have a higher catchup contribution limit of nearly thirty

700
00:42:05.599 --> 00:42:08.880
six thousand available for employees into a four to one

701
00:42:08.920 --> 00:42:14.920
K plan starting twenty twenty six. Wow, that's some great

702
00:42:15.239 --> 00:42:20.400
things we've seen this year. Higher refunds due to the

703
00:42:20.480 --> 00:42:28.440
new larger deductions and increase credits. Income thresholds for tax

704
00:42:28.480 --> 00:42:33.719
brackets were adjusted for inflection are being adjusted again. That

705
00:42:33.840 --> 00:42:39.719
one big, beautiful bill helped many Americans save money on

706
00:42:39.880 --> 00:42:45.000
taxes across the board, you know, such as the senior deduction.

707
00:42:46.480 --> 00:42:48.920
Things like that, no tax on tips, no tax on

708
00:42:49.039 --> 00:42:52.079
overtime all helped you. So at the end of the day,

709
00:42:52.440 --> 00:42:56.599
get your taxes filed. Deadline's coming up. It's just a

710
00:42:56.639 --> 00:42:59.639
couple of days away. Get your extension filed, or get

711
00:42:59.639 --> 00:43:03.159
your tax filed again. Remember, extension is only extension of

712
00:43:03.239 --> 00:43:05.559
time to file, not an extension of time to pay.

713
00:43:05.920 --> 00:43:09.239
If you're going to owe money on to the irs, hey,

714
00:43:09.320 --> 00:43:12.199
in the money before April fifty, you can go online

715
00:43:12.239 --> 00:43:15.360
and make the payment. Many systems follow the extensions and

716
00:43:15.440 --> 00:43:18.320
it will apply payments for you as well. Pull it

717
00:43:18.360 --> 00:43:21.800
from your bank account. Hey, hey, we're running out of time.

718
00:43:21.840 --> 00:43:24.440
We had a lot of fun here today. Got to

719
00:43:24.440 --> 00:43:26.960
listen to me on my soapbox. Hey, we're here every

720
00:43:26.960 --> 00:43:31.400
Monday at ten am Eastern time on W four CY Radio. Hey,

721
00:43:31.840 --> 00:43:35.199
get over to Tax Talk number four letter you dot com.

722
00:43:35.239 --> 00:43:39.199
Follow us over there, follow us on Facebook. Never miss

723
00:43:39.239 --> 00:43:41.760
an episode. We're going to be here talking about taxes

724
00:43:42.079 --> 00:43:45.519
and impacts for you and your business. We will see

725
00:43:45.519 --> 00:43:48.559
you next week right here on Tax Talk for You.

726
00:43:48.559 --> 00:43:52.000
You have a very God blessed and glorious week. Get

727
00:43:52.000 --> 00:43:55.360
those extensions filed. We'll see you right here again on

728
00:43:55.440 --> 00:43:58.559
Tax Talk for You dot Com on W four CY

729
00:43:58.679 --> 00:44:00.599
Radio at am Eastern be here.

730
00:44:02.159 --> 00:44:05.320
Are you an individual or business that wants to understand

731
00:44:05.400 --> 00:44:08.800
taxes and how they affect you. Are you looking for

732
00:44:08.840 --> 00:44:14.239
specific tax advice for self employed business owners and truckers.

733
00:44:14.840 --> 00:44:18.199
Are you behind on taxes and your bookkeeping?

734
00:44:18.639 --> 00:44:21.199
Are you dealing with the irs and ready to have

735
00:44:21.280 --> 00:44:21.920
some relief?

736
00:44:22.800 --> 00:44:26.599
Then you need Tax Talk for You, hosted by tax

737
00:44:26.679 --> 00:44:31.639
and trucker expert Barry g. Fouer ea Keunyan ten am

738
00:44:31.800 --> 00:44:35.800
Eastern time every Monday right here on W FOURCY Radio

739
00:44:35.880 --> 00:44:39.159
and Talk for TV. Don't forget to check this and

740
00:44:39.320 --> 00:44:43.880
past episodes at tax talkfu dot com. See you next

741
00:44:43.880 --> 00:44:48.679
week at W fourcy dot com.