diyanyap@gmail.com By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: Gig income is taxable whether or not you get a 1099. On top of regular income tax, self-employed gig workers owe 15.3% self-employment tax on net profit, but you can deduct business expenses like … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: Your W-4 tells your employer how much federal tax to withhold from each paycheck. There is no special 2026 W-4 form change, but the new 2026 tax brackets and OBBBA deductions can shift the … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: The federal deadline to file your 2025 individual tax return is April 15, 2026. Filing Form 4868 extends the filing deadline to October 15, 2026 — but an extension is for paperwork only. Any … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: When you sell your main home, you can exclude up to $250,000 of gain from tax if you’re single, or up to $500,000 if you’re married filing jointly. To qualify, you must have owned … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: A Roth conversion moves money from a traditional IRA or 401(k) into a Roth account. The converted amount is added to your taxable income for the year and taxed at your ordinary 2026 rates … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: For 2026, the HSA contribution limit is $4,400 for self-only high-deductible health plan coverage and $8,750 for family coverage. If you are 55 or older, you can add a $1,000 catch-up on top. You … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 20, 2026 Quick answer: For 2026 you can contribute up to $24,500 to a 401(k), 403(b), governmental 457, or Thrift Savings Plan, and up to $7,500 to an IRA. Workers 50 and older add a $8,000 401(k) catch-up, … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 19, 2026 Quick answer: 2026 federal estimated taxes are due April 15, June 15, and September 15, 2026, with the final payment due January 15, 2027. You’re generally safe from underpayment penalties if you pay in at least … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 19, 2026 Quick answer: 2026 is the most investor-friendly tax landscape in years: 100% bonus depreciation is back permanently (making cost segregation studies pay off again), the 20% QBI deduction for qualifying rentals is permanent, long-term capital gains … Read more
By Income Tax Service Editorial — Reviewed by Diyan Yap, EA (IRS Enrolled Agent) — Updated July 19, 2026 Quick answer: An LLC and an S-corp usually pay the same income tax — the difference is self-employment tax. An S-corp election lets owners split profit into salary (subject to 15.3% payroll tax) and distributions (not), … Read more