Blog | Tzinberg & Associates, P.C.

IRS Confirms 2025 Tax Deduction for Tips and Overtime

The IRS has released Notice 2025‑69, clarifying how employees can claim new deductions on their 2025 tax returns for income earned through tips and ov...

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NO MORE CHECKS!

On September 30, 2025, the IRS officially ended the use of paper checks for most refunds and payments. This change is part of the federal government's...

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Pennies Are Ending

In early 2026, the U.S. Mint will stop producing pennies, ending more than two centuries of 1-cent coinage. For most Americans, this won’t come as a s...

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12 Tips To Finish The Year Strong

We’re at that time of the year when it feels like we’re racing against time. With the holidays quickly approaching and the desire to end the year on a...

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Missouri Raises Its Minimum Wage — What Employers Need to Know (with other states also increasing rates)

Illinois’s minimum wage remains unchanged at $15.00 per hour for now, but Missouri is set to see a significant increase: the state will move to $15.00...

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Maximize Retirement Savings: Don’t Overlook Catch-Up Contributions for Taxpayers Aged 50 and Over

As retirement approaches, many older Americans seek strategies to maximize their savings and ensure financial stability. Retirement plans often provid...

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Update on Worker vs. Independent Contractor Rules

The IRS released Rev. Proc. 2025-10, updating worker classification rules for the first time in 40 years. Key changes include expanded documentation r...

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Holiday Gifts That Offer Tax Benefits for You and Your Loved Ones

The holiday season is a time of giving, and while the joy of gifting is often its own reward, there are ways to make your generosity even more impactf...

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A Guide to the Business Pass-Through Deduction

The Section 199A deduction allows eligible business owners to deduct up to 20% of qualified business income. It applies to sole proprietorships, partn...

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Missouri Exempts Capital Gains from State Income Tax

Missouri is now the first state with an income tax to fully exempt capital gains for individuals—effective Jan. 1, 2025—thanks to the newly enacted HB...

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Essential One Big Beautiful Bill Tax Changes Every Senior Needs to Know

This article delves into the provisions relevant for seniors, offering insights into optimizing their tax strategies and ensuring compliance while max...

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Understanding the New Above-the-Line Tax Deduction for Qualified Tips

The U.S. tax landscape continues to evolve with legislative updates, and one such recent change introduced in the “One Big Beautiful Bill Act” focuses...

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New Deduction for Overtime Under the OBBBA: A Comprehensive Guide

This article will explore what constitutes deductible overtime under the OBBBA, the specifics of the deduction, its limitations, and why it’s crucial...

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See How the “One Big Beautiful Bill” Act Will Impact Your 2025 Taxes and Transform Your Financial Landscape!

This guide will equip you with the knowledge necessary to timely optimize your tax responsibilities and benefits efficiently amidst these legislative...

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Retired, Relaxed… and Overpaying Taxes? Here's How to Keep More of Your Money

You’ve spent decades building your savings. Don’t let avoidable tax surprises chip away at what you’ve earned. If you’re recently retired, or planning...

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