What’s New for Your Taxes This Year: Key Tax Changes You Need to Know
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In this episode of the Sunlight Tax Podcast, I break down the most important 2025 tax law changes in clear, jargon-free language. I explain the new Schedule 1-A and its temporary deductions, including no tax on tips, overtime, car loan interest, and enhanced senior deductions, plus what the latest tax bill really means for your wallet.
You’ll also learn about “Trump accounts” for children born 2025–2028, updated 1099 reporting rules, retirement catch-up contribution changes, and the higher standard deduction. This practical episode helps you understand key tax changes, which tax benefits apply to you, and how to avoid missing important deductions this tax season.
Also mentioned in today’s episode:
03:39 New Tax Forms and Deductions
06:44 Understanding the Schedule 1A
10:31 Trump Accounts: A New Initiative
13:14 Changes in 1099 Forms and Reporting
15:52 Updates on Standard Deductions and Child Tax Credit
18:47 Join my Upcoming Free Class
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Links:
Join my free class on 1/27: Make Taxes Easier and Stash an Extra $152k in Your Savings
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Order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed