Federal tax tips & filing insights
Policy explainers and filing-season commentary. Educational only — not tax advice.
401(k) Contribution Limits 2026: How Much Can You Defer?
The 2026 401(k) employee deferral limit is $24,500, with catch-up contributions of $8,000 at age 50+ or $11,250 at age 60–63. Combined employee-employer limit is $72,000.
No Tax on Tips 2026: How the Deduction Actually Works
The 2025–2028 qualified tips deduction can cut federal income tax on up to $25,000 of reported tips — but FICA still applies, service charges don't count, and your job must be on the IRS occupation list.
Side-Hustle Taxes: Quarterly Payments and the Underpayment Penalty
How side-hustle and 1099 income triggers quarterly estimated taxes, Form 1040-ES due dates, safe harbor rules, and the IRS underpayment penalty if you pay too little.
Why Congress Won't End the Income Tax
Trump floated replacing income tax with tariffs. Budget math and tax-software lobbying help explain why Congress is unlikely to repeal Form 1040.