New tax law
One Big Beautiful Bill: what taxpayers should review
The One Big Beautiful Bill Act became law on July 4, 2025.
Tax year / scope: 2025–2026Read articleLoading your page…
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ML Taxes & Accounting · Tax blog
100 articles and guides for individuals and business owners. Start with a topic that fits your situation, then discuss how the rules apply to you.
Library expanded October 19, 2026. Each article identifies its guidance review date. Federal and state rules may differ. These educational articles are not individualized tax or legal advice. Tax year and effective dates matter.
100 articles found.
New tax law
The One Big Beautiful Bill Act became law on July 4, 2025.
Tax year / scope: 2025–2026Read articleNew tax law
The tips deduction applies to qualifying tips in eligible occupations, not every payment described as a tip.
Tax year / scope: 2025–2028Read articleNew tax law
The overtime deduction concerns qualifying overtime premium pay required under the Fair Labor Standards Act.
Tax year / scope: 2025–2028Read articleNew tax law
Eligible taxpayers age 65 or older may qualify for a new deduction of up to $6,000 per person.
Tax year / scope: 2025–2028Read articleNew tax law
A temporary deduction may apply to interest on qualifying loans for new personal-use vehicles with final assembly in the United States.
Tax year / scope: 2025–2028Read articleNew tax law
For tax year 2026, the basic standard deduction is $16,100 for single filers and married filing separately, $32,200 for married filing jointly, and $24,150 for heads of household. Your available deduction may differ because of age, blindness, dependency, or other rules.
Tax year / scope: 2026Read articleNew tax law
Starting in tax year 2026, eligible non-itemizers may deduct qualifying cash charitable contributions up to $1,000, or $2,000 on a joint return.
Tax year / scope: 2026Read articleNew tax law
The law restored permanent 100% additional first-year depreciation for qualifying property acquired after January 19, 2025, subject to the applicable rules.
Tax year / scope: 2025–2026Read articleNew tax law
The new law expands HSA-related rules, including treatment of bronze and catastrophic coverage beginning in 2026.
Tax year / scope: 2026Read articleNew tax law
Qualifying employer educational assistance can include student loan payments.
Tax year / scope: 2026Read articleLLC & corporations
An LLC is created under state law.
Tax year / scope: 2026 planningRead articleLLC & corporations
For federal income tax purposes, a domestic single-member LLC is generally disregarded unless it elects corporate treatment.
Tax year / scope: 2026 planningRead articleQuestions about your situation? Request a consultation or call 206-258-6247.