The highlights of your 2025 FEDERAL taxes (based on the 2018-2025 TCJA and OBBBA changes for 2025): Federal Tax Rates for 2025: • Individual Income Tax Rates: For tax year 2025, the individual income tax rates remain at seven brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The income thresholds for each bracket have been adjusted for inflation. The top marginal rate of 37% applies to taxable income above $626,350 (single) and $751,600 (MFJ). • Corporate Tax Rate: Still a flat 21%, which was originally made permanent by TCJA. Standard Deduction for 2025: Thanks to inflation adjustments and new 2025 tax legislation: • Single: $15,750 • Married Filing Jointly: $31,500 • Head of Household: $23,625 And for those age 65+: A new additional senior deduction of up to $6,000 per qualifying taxpayer (phasing out beginning at $75,000 MAGI for singles and $150,000 MAGI for joint filers); available whether you itemize or not. Child Tax Credit (CTC) for 2025 • Maximum credit: $2,200 per qualifying child (under age 17) (up from $2,000). A nonrefundable credit of $500 remains available for non-child dependents. • Refundable portion: Up to $1,700 via the Additional Child Tax Credit for eligible taxpayers. • Phaseout thresholds: Begin at $200,000 MAGI ($400,000 MFJ) (similar to 2024). Dependent Care Credit for 2025: The basic structure remains similar to recent years: • The maximum claimable dependent care expenses remain limited ($3,000 for one dependent and $6,000 for two or more). • The credit percentage is generally 20% at higher income levels. • Not refundable. • Employers can still exclude up to $5,000 of dependent care assistance from employee income. Eliminated Itemized Deductions in 2025 For 2025 you still cannot deduct: • State and local tax (SALT) above the limit, AND the limit was increased to $40,000. • Moving expenses (with select military exceptions). • Unreimbursed employee business expenses (e.g., mileage, home office, union dues, tax prep), although still available in CA (above a 2% AGI floor). • Mortgage interest deductions above the borrowing limits: Limited to $750K acquisition debt (loans originated on or after Dec 16, 2017; $1 million if prior to that date; always $1 mil CA). Other Individual Benefits for 2025 • Medical Expense Deduction: Threshold remains 7.5% of AGI for deductible medical expenses. • Alternative Minimum Tax (AMT): Thresholds remain elevated, reducing exposure for many taxpayers. • Estate Tax Exemption: Now approximately $14 million per individual for 2025 (indexed for inflation). • Annual Gift Tax Exclusion: $19,000 per recipient for 2025 (indexed for inflation). Small Business & Pass-Through Benefits (QBI) in 2025 • The 20% Qualified Business Income (QBI) Deduction continues for owners of sole proprietorships, partnerships, S corporations, and certain rental activities. The underlying rules remain complex and may be adjusted by income level and service trade categories.

For reporting 2025 taxes due in 2026 Form.......................................................................................Filing Due Dates in 2026 Form 1040-ES - Q4 estimated tax payment due.............................January 15 Form W-2 (electronic or mail).................................................February 2 Form 1065 – Partnerships..................................................................March 16 Form 1120S – S Corporations...........................................................March 16 Form 1040 – Individuals & deadline contribute to 2024 IRA............April 15 FinCEN 114 – FBAR (will be allowed to extend).................................April 15 Form 1041 – Trusts and Estates.........................................................April 15 Form 1120 – C Corporations............................................................April 15 Form.........................................................................................Extension Due Dates in 2026 Form 1065 Extended Return........................................................... September 15 Form 1120S Extended Return......................................................... September 15 Form 1041 Extended Return............................................................September 30 Form 1120 Extended Return............................................................October 15 Form 1040 Extended Return............................................................October 15 FinCEN 114 - FBAR (Extended with Form 1040)................................October 15 Form 990 Series Extended Return....................................................November 16 Form 5500 Series Extended Return..................................................November 16

Check your Federal Refund(https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp) Check your State Refund - Select Your State: California(https://www.ftb.ca.gov/online/refund/index.asp) Alabama (https://myalabamataxes.alabama.gov/_/#1)| | Indiana (https://secure.in.gov/apps/dor/tax/refund/)| | Nebraska (https://ndr-refundstatus.ne.gov/refundstatus/public/search.faces)| | South Carolina(https://mydorway.dor.sc.gov/_/) Alaska (https://www.olt.com/main/home/checkstatus.asp)| | Iowa (https://www.idr.iowa.gov/wheresmyrefund/)| | Nevada (https://tax.nv.gov/FAQs/Returns,_Payments,_Credits_and_Refunds/)| | South Dakota(http://dor.sd.gov/Taxes/) Arizona (https://www.aztaxes.gov/Home/Page)| | Kansas (https://www.kdor.ks.gov/Apps/kcsc/increfundstatus.aspx)| | New Hampshire (https://www.olt.com/main/home/nhrefund.asp)| | Tennessee(https://www.olt.com/main/home/tnrefund.asp) Arkansas (https://atap.arkansas.gov/_/)| | Kentucky (https://revenue.ky.gov/Pages/MyRefund.aspx)| | New Jersey (https://www.state.nj.us/treasury/taxation/refinfo.shtml)| | Texas(https://comptroller.texas.gov/taxes/refunds/) California (https://www.ftb.ca.gov/online/refund/index.asp)| | Louisiana (https://latap.revenue.louisiana.gov/_/)| | New Mexico (https://tap.state.nm.us/tap/_/#1)| | Utah(https://tap.tax.utah.gov/TaxExpress/_/#1) Colorado (https://www.colorado.gov/revenueonline/_/)| | Maine (https://portal.maine.gov/refundstatus/refund)| | New York (https://www8.tax.ny.gov/PRIS/prisStart)| | Vermont(https://myvtax.vermont.gov/_/#1) Connecticut (http://www.ct.gov/drs/cwp/view.asp?a=1462&q=266274&drsPNavCtr=|40959|#40963)| | Maryland (https://interactive.marylandtaxes.gov/INDIV/refundstatus/home.aspx)| | North Carolina (https://www.ncdor.gov/)| | Virginia(https://tax.virginia.gov/wheres-my-refund) Delaware (https://revenue.delaware.gov/)| | Massachusetts (https://mtc.dor.state.ma.us/mtc/_/)| | North Dakota (https://apps.nd.gov/tax/tap/_/)| | Washington DC(https://mytax.dc.gov/_/#1) Florida (http://floridarevenue.com/faq/Pages/FAQSearch.aspx?Cat=4)| | Michigan (https://treas-secure.treas.state.mi.us/eservice_enu/start.swe?SWECmd=Start&SWEHo=treas-secure.treas.state.mi.us)| | Ohio (https://www.tax.state.oh.us/IFILE/WheresMyRefundWeb/wheresmyrefund.jsp)| | West Virginia(https://mytaxes.wvtax.gov/_/#1) Georgia (https://gtc.dor.ga.gov/_/)| | Minnesota (https://www.mndor.state.mn.us/tp/refund/_/)| | Oklahoma (https://www.ok.gov/tax/Individuals/Income_Tax/Filing_Information/How_to_Check_on_a_Refund/)| | Wisconsin(https://ww2.revenue.wi.gov/RefundInquiry/request.html) Hawaii (https://tax.ehawaii.gov/hoihoi/refund.html)| | Mississippi (https://tap.dor.ms.gov/_/#3)| | Oregon (https://www.oregon.gov/DOR/programs/individuals/Pages/default.aspx)| | Wyoming(https://ww2.revenue.wi.gov/RefundInquiry/request.html) Idaho (https://idahotap.gentax.com/TAP/_/)| | Missouri (https://dors.mo.gov/tax/taxinq/welcome.jsp)| | Pennsylvania(https://www.doreservices.state.pa.us/PITServices/WheresMy/Refund) Illinois (https://mytax.illinois.gov/_/)| | Montana (https://tap.dor.mt.gov/_/#1)| | Rhode Island(https://www.ri.gov/taxation/refund/)

FEDERAL (https://www.irs.gov/payments)(the IRS's Direct Pay system) STATE OF CALIFORNIA (https://www.ftb.ca.gov/online/payment_choices.shtml)(California's Web Pay system)

Estimated Tax Payment Vouchers - Federal(https://www.irs.gov/pub/irs-pdf/f1040es.pdf) Estimated Tax Payment Vouchers - State of California(https://www.ftb.ca.gov/forms/2025/2025-540-es.pdf)

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