Video Tips: Change to Educator’s Deduction Under OBBBA
Beginning in 2026, the One Big Beautiful Bill Act (OBBBA) restores the educator’s itemized deduction for qualified unreimbursed expenses and retains the $350 (for 2026) above-the-line deduction. Educators who itemize their deductions can allocate their expenses between the two methods.
Video Tips: Big Changes for Pension Catch-up Contributions
2025 brought significant changes to pension plan contributions by introducing an additional catch-up amount for taxpayers aged 60 through 63 followed in 2026 with a requirement that catch-up contributions for higher income taxpayers mandatorily be Roth contributions.