Simple Tips for Smarter Finances
April 15 is the deadline for more than just your income tax return
Depending on your situation, you may have more to do by April 15 than file your Form 1040. What you do — or don’t do — by that date could either save you or cost you taxes, interest and penalties.
Four Interest Expenses You May Be Able to Deduct
The rules for interest expense deductions for individual taxpayers are complex. Find out what you might be able to deduct on your 2025 income tax return.
Parents: Claim all the tax credits you’re entitled to
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they reduce your tax liability dollar for dollar (unlike deductions, which only reduce the amount of income subject to tax). Which credits might you be eligible for on your 2025 return?
We can help ensure you maximize your tax savings from these and other tax breaks you’re eligible for.
Quadrupled SALT deduction limit means more taxpayers will benefit from itemizing on their 2025 returns
If you have high state and local tax expenses but have been claiming the standard deduction in recent years, it’s time to revisit itemizing.
Recent tax law changes have increased state and local tax deduction limits. We can assess the impact of the SALT limit change on your tax situation to see if you benefit.
If you’re married, should you file jointly or separately?
Typically, filing jointly will save taxes for married couples compared to filing separately. But that isn’t always the case. And sometimes it may make sense to file separately even if it won’t save taxes for the couple overall.
Need expert help with taxes, payroll, or bookkeeping?
With local roots and 20+ years of experience,
Bradley T. Barnes, CPA is proud to serve Ottumwa and Southeastern Iowa.
