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The Tax Plug

10+ years tax preparation experience for individuals and small businesses

11/05/2026

Real question, and I want the honest answers. What is one thing you cut back on this year that actually saved you real money? Not the little stuff. The thing that made a real difference in your budget. For me, it was cooking at home more and cutting the random takeout runs. Small changes add up when you are raising four kids and running a business. Drop yours in the comments. Somebody reading this might need your idea tonight.

11/04/2026

If you have been following along and thinking 'I need to get my tax situation together,' this is your sign. I work with busy people, parents, gig workers, first-time filers, and folks who are behind and scared to start. No judgment, no jargon, just real help from someone who has done this for ten years. Shoot me a message. Let us finish 2025 strong and walk into tax season ready.

11/04/2026

Gig workers, freelancers, self-employed: let us recap. You owe income tax AND self-employment tax. Nobody withholds it for you. Quarterly estimated payments keep you out of penalty territory. Track every expense, mileage included. Keep business money separate. And the Q4 payment is due January 15, right after the holidays. Set it aside now. You are the boss, which means you are also the payroll department.

11/04/2026

Investors, quick year-end concept: tax-loss harvesting. If you have investments that lost value, selling them before year-end lets you use those losses to offset gains, lowering your tax bill. Then you can reinvest. There are rules, like the wash sale rule, so do not wing it. But if your portfolio had a rough patch, those losses have tax value. Talk to your advisor or preparer before December.

11/03/2026

Holiday spending starts now, and I say this with love: January has a tax bill and a credit card bill waiting. Enjoy the season, but keep one eye on the numbers. Set a gift budget and stick to it. If you are doing holiday side gigs, set aside the tax cut as you earn it. Future you, the one filing taxes in February with no debt hangover, will be grateful.

11/03/2026

Inherited money or property? Here is the short version: inheritances are generally not taxable income to you at the federal level. But what you DO with them can be. Sell inherited property and there may be capital gains. Inherit a traditional IRA and withdrawals are taxable. The rules have details that matter, so do not guess. If 2025 brought an inheritance, let us talk through it before you file.

11/03/2026

Tax strategy in plain English: bunching. If your itemized deductions are close to the standard deduction but not quite there, bunch two years of deductible expenses into one year. Double up charitable giving. Time that dental work. Pay January's mortgage payment in December. You itemize in the bunched year and take the standard the next. It is legal, it is simple, and it works. November is the time to plan it.

11/02/2026

Tax question for the DIY crowd: what is the part that stresses you out most? Finding the documents? The software questions? Not knowing if you missed something? Or is it smooth sailing? I am asking because I genuinely want to know where people get stuck. Drop it below.

11/02/2026

Friendly reminder: most people take the standard deduction, and that is perfectly fine. It exists so you do not have to track every receipt. But if you bought a house, had big medical bills, or gave generously this year, add up your itemized deductions before you assume. The standard is the floor, not the rule. Take whichever is higher. That is the whole game.

11/02/2026

Thinking about pulling from a retirement account? Know the tax cost first. Traditional 401(k) and IRA withdrawals are taxed as income, plus a 10% penalty if you are under 59 and a half (with some exceptions). Roth withdrawals work differently if the account is seasoned. A withdrawal can also bump you into a higher bracket or make Social Security taxable. Run the numbers before you touch it. The tax hit is bigger than most people expect.

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