For 2026, the IRS raised the standard deduction to: - $16,100 for single filers - $32,200 for married filing jointlyPlus, taxpayers age 65+ get an additional standard deduction: - $2,050 for single filers - $1,650 for married filers 👉 This means more income is shielded from tax before itemizing makes sense. Do you usually take the standard deduction or itemize? Why?

The IRS announced the 2026 standard mileage rate for business use is 72.5 cents per mile — up 2.5¢ from last year. You can use this rate to calculate deductible vehicle expenses if you choose the standard mileage method. 👉 Tip: Log your business miles accurately (apps like MileIQ or Everlance help). What tracking method do you use for business mileage — app, spreadsheet, or paper log?

Thinking about getting an Electric Vehicle (EV) for your business? Many of the $7,500 tax credits are tied to specific 2026 deadlines. 👉 If you want the IRS to help buy your next "showing car," now is the time to check the eligibility list and make your move! Tip: Make sure your EV purchase meets all the requirements to qualify for the credit. Are you team Gas, team Hybrid, or team Electric for your business car?

A new 2026 rule allows you to deduct up to $10,000 in interest on a personal car loan if you meet income requirements. 👉 The Edge: This is an extra layer of savings on top of your standard business mileage rates, making it easier to save on car-related expenses. Tip: Keep records of the loan and interest payments to back up your deduction. Do you currently have a loan on your primary business vehicle?

An audit isn’t scary if you have the 5 W’s documented: Who, What, When, Where, and Why. 👉 Strategy: Take a photo of the receipt, type the 5 W's in the caption, and save it to a "Taxes 2026" folder on your phone immediately. Tip: Keeping your receipts organized and easily accessible will save you time and stress when it’s tax season. Are you a ‘shoebox full of receipts’ person or a ‘digital folder’ person?