Rupert & Associates

March is here!!! Which means we are right in the middle of the "Tax Season" for the 2025 Tax Year (due April 15, 2026).

​📝 2026 Filing Guide (for 2025 Returns)
​Here are the essential numbers and new rules for the federal returns being filed this month:

​1. The "Big Three" New Deductions
​For the first time, these are available to reduce taxable income:

​No Tax on Tips: Workers can deduct up to $25,000 of qualified tip income.

​**No Tax on Overtime: Hourly workers can deduct up to $12,500 ($25,000 if married) of their overtime "premium" pay.

​Senior Bonus: Taxpayers age 65+ get an extra $6,000 deduction on top of the standard amount.

​2. Standard Deduction vs. Itemizing
​The SALT Cap (State and Local Tax) was recently raised from $10,000 to $40,000.

This is a game-changer for homeowners in high-tax states—many people who used to take the Standard Deduction should now check if Itemizing saves them more money.

​2025 Standard Deductions (The "Floor"):
​Single / Married Filing Separately: $15,750
​Married Filing Jointly: $31,500
​Head of Household: $23,625

​Income & The New Deductions: Lists W-2s, 1099-NEC/K, and the brand-new 1099-T (Tips, up to $25k deduction) and 1099-OT (Overtime, up to $12.5k deduction).

​Itemizing & SALT Relief: Includes mortgage interest and charitable records, alongside the new SALT Cap of $40,000.

​The "Senior Bonus": Explicitly calls out the extra $6,000 deduction for age 65+.

​USA Vehicle Interest: Highlights the requirement to find the VIN for the new deduction (up to $10,000 interest, for NEW make and models USA-assembled cars).

📊 ⚖️ An S-Corp doesn't change how much you earn. It changes how that income is classified - and classification determines which taxes apply.

The optimal split isn't always obvious. It depends on profit level, the wage base, and how salary decisions ripple into other parts of the tax code.

Let our professionals at Rupert & Associates walk you through the best plan of action for you and your business.

Call our office to schedule a FREE consultation to see how we can help!

Rupert & Associates
512-282-2301

305 Railroad St
Buda, Tx 78610

The remodel on our new office building is underway! 🔨 🦺

We are excited for the added office space and additional parking! 🅿️

Good news is we will be right next door to our original location - Starting next week, September, 1st, you can find us at 305 Railroad St. in downtown Buda, TX!

Be sure to drop in to say Hi and as always, thank you to all our loyal clients who trust us with their tax preparation and business services! 📚

On this Veterans Day, we pause to honor and express our sincere gratitude to the brave men and women who have served and continue to serve our nation.

Their dedication and sacrifice inspire us all! May this Veterans Day be filled with appreciation and reflection.

Thank you to all the Veterans. 🇺🇸

Best Regards,
Rupert & Associates