Tax Season 2025: Key Tips, Deadlines, and Deductions You Need to Know | The Financial Mirror

Tax season is around the corner, and navigating the ins and outs of filing your taxes can be overwhelming. In this comprehensive guide to tax season 2025, we break down everything you need to know to file your taxes with confidence. From the tax filing deadline to crucial updates on standard deductions, tax brackets, and credits, we’ll help you avoid common mistakes and maximize your potential refund.

Whether you’re filing as an individual or with a family, understanding the new rules for tax year 2024 is key. This episode will cover all of the essential details, including:
o Important tax deadlines for 2025 and how to avoid penalties
o The impact of inflation-adjusted tax brackets and how they affect your filing
o Key deductions and credits you could be eligible for, such as the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), and more
o How to properly claim charitable donations, medical expenses, and business deductions if you're self-employed or a freelancer
o The latest updates on 1099-K forms for side hustlers and online sellers
o Tips on maximizing your retirement contributions and education credits for tax savings

If you want to avoid last-minute stress and ensure you’re filing your taxes accurately, this episode provides the essential steps you need to get prepared for tax season 2025. Don't wait until the last minute—start organizing your documents and understanding the tax changes that could impact your refund or tax bill this year.

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Tax Checklist: https://www.nerdwallet.com/article/taxes/tax-prep-checklist

Articles Used:
Tax Deadlines: https://www.irs.gov/newsroom/irs-announces-jan-27-start-to-2025-tax-filing-season-agency-continues-historic-improvements-to-expand-enhance-tools-and-filing-options-to-help-taxpayers
Tax Brackets & Deductions: https://www.ramseysolutions.com/taxes/tax-season-what-you-need-to-know
Charitable Contribution Deductions: https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions
Medical Expense Deductions: https://www.irs.gov/publications/p502
Earned Income Tax Credit (EITC): https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/earned-income-and-earned-income-tax-credit-eitc-tables
Child Tax Credit: https://www.irs.gov/credits-deductions/individuals/child-tax-credit
1099-K Changes: https://www.kiplinger.com/taxes/1099-k-threshold-to-file--what-to-know

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