šļø Tax Deadline 2026: The $1,000 Deduction Most Miss
April 15 is weeks away. Millions will rush to file ā and most willĀ overpayĀ because of one simple mistake.
Here's the deduction that costs taxpayers over $1,000 every year š
The $1,000+ deduction:Ā State & Local Tax (SALT) ā but NOT the way you think.
Most people deductĀ state income tax. But if you made big purchases in 2025 (car, boat, RV, home improvements), deductingĀ sales taxĀ instead saves you more.
š Example: Texas (no income tax). Bought a $40k car ā $2,500 sales tax. Plus appliances, furniture ā $3,200 total. At 22% bracket = **$704 saved**. Add local tax ā over $1,000.
ā ļø Tax software defaults to income tax. You have toĀ manuallyĀ select "sales tax."
Other missed deductions + credits:
2ļøā£Ā Non-cash charitable donationsĀ ā clothes, furniture, electronics (use IRS Pub 561)
3ļøā£Ā Medical expenses over 7.5% of AGIĀ ā include mileage (22Ā¢/mile), premiums, even LASIK
4ļøā£Ā Home officeĀ ā self-employed only (simplified: $5/sq ft, max $1,500)
5ļøā£Ā Earned Income Tax Credit (EITC)Ā ā up to **$7,430 refundable** (even if you owe $0)
6ļøā£Ā Child Tax CreditĀ ā $2,000 per child (up to $1,700 refundable)
7ļøā£Ā Charitable mileage & out-of-pocketĀ ā 14Ā¢/mile for volunteer driving
April 15, 2026 = Tax Deadline 2026
File Form 4868 for extension to Oct 15 (but pay by April 15!)
šĀ Full breakdown + state tax differencesĀ (link in bio) ā read before you hit "submit."
Did you make a big purchase in 2025? You might need to amend.Ā ššø