While not officially over until April 15, tax season is coming to an end. And what a year it was to talk taxes with the new landscape shaped by the One Big Beautiful Bill Act (“OBBBA”). Unlike prior years, where uncertainty about expiring tax provisions loomed large, this tax season came with clarity: rates are now permanently set, the standard deduction has increased, and brand-new deductions for tips and overtime pay are now available for eligible workers.
From there, we dug into the details that matter most to everyday filers. One post helped readers make sense of the often-confusing Form 1099-R — explaining that what looks taxable on paper isn’t always taxable in practice, and walking through rollovers, qualified charitable distributions, and penalty exceptions. We also tackled the perennial question of filing timing, laying out the real pros and cons of filing early versus waiting, especially in light of all the recent regulatory changes. Families were guided through the maze of dependent care credits, education tax credits, and the often-overlooked kiddie tax rules.
For higher earners, we took a candid look at how the new law continues to place a heavier burden on top earners — from SALT deduction phase-outs to new limits on charitable deductions and itemized deductions beginning in 2026. We also sounded the alarm on this year’s IRS “Dirty Dozen” tax scams, with AI-powered phishing, fake charities, and fraudulent IRS account “helpers” leading the list of threats to watch.
The retirement planning posts were some of the most actionable of the series. We made a compelling case for variable universal life insurance as a supplement to traditional retirement accounts — especially for high earners who’ve maxed out their IRA and 401(k) contributions. Readers were urged not to miss the April 15 IRA contribution deadline, with a smart tip to use a tax refund to fund an IRA directly via Form 8888. We also covered important plan deadlines for business owners, including newly expanded options for establishing retirement plans after year-end under SECURE Act 2.0.
The series transitioned with a timely myth-buster: despite widespread headlines suggesting otherwise, Social Security benefits are not tax-free under the OBBBA. However, the new senior deduction — up to $6,000 per qualifying individual age 65 and older — can meaningfully reduce overall taxable income for those who qualify through 2028.
Lastly, we addressed the importance of selecting the appropriate filing status for your return. It’s important to review your fling status versus just “checking the box.”
Whether you’re a family navigating education credits, a business owner weighing retirement plan options, or a senior sorting out your Social Security picture, hopefully this series had something for you. All 11 posts are available in the Tax Tip Tuesdays area at benjaminfedwards.com/insights — and as always, your Benjamin F. Edwards financial advisor is ready to help you put these insights to work.
IMPORTANT DISCLOSURES: The information provided is based on internal and external sources that are considered reliable; however, the accuracy of this information is not guaranteed. This piece is intended to provide accurate information regarding the subject matter discussed. It is made available with the understanding that Benjamin F. Edwards is not engaged in rendering legal, accounting or tax preparation services. Specific questions on taxes or legal matters as they relate to your individual situation should be directed to your tax or legal professional.