Tax Reference Guide (A–Z)

Long-term gain that still fits in the 0% band may be sold and rebought. Wash-sale rules do not apply to gains.

Schedule D. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

For payments after 2025, a 1099-NEC or 1099-MISC is generally filed at $2,000. Income is still taxable with no form.

Form 1099-NEC, 1099-MISC, or 1099-K. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Revenue Procedure 2025-32 lists 2026 inflation-adjusted figures used as drafts in this check.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Casualty losses, farmland installments, moving expenses, and the 2027 scholarship credit are discussed on the IRS provisions page.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Notice 2025-67 lists 2026 IRA and plan limits, including the Roth catch-up rule.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A 529 plan that has been open more than 15 years can be discussed for a Roth IRA rollover. The last five years of contributions are left out. Education credits are a separate question.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A family board of directors. An LLC has no board unless the documents create one. Director fees for a family trip are not allowed.

Not a line to claim.. No savings number. Pending CPA review.

Abusive micro-captive insurance. A tiny insurance company that does not really insure risk is a listed-transaction problem.

Not a line to claim.. No savings number. Pending CPA review.

Abusive trust schemes, including a trust sold as a way to make income disappear or to take cash out of a charity arrangement tax-free.

Not a line to claim.. No savings number. Pending CPA review.

Employee expense reimbursements can stay off the wage form when the plan has the required records and returns extra money.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Form 3115 is how a CPA asks to catch up missed depreciation. This check does not file it.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Wages and self-employment income can owe an extra 0.9%, and investment income an extra 3.8%, above a threshold.

Form 8959 and Form 8960. The $250,000 threshold is unverified, confirm with CPA. Pending CPA review.

Adoption expenses can produce a credit, and part of it can be refundable. Wisconsin has its own subtraction.

Form 8839 and Wisconsin Schedule SB. The Wisconsin $15,000 figure is from 2025, confirm with CPA. Pending CPA review.

Ordinary advertising for the business can be deductible. Enter the cost once.

Schedule C line 8. No separate dollar cap in this draft. The cost still has to be ordinary. Pending CPA review.

Form 1040-X amends a federal individual return. Wisconsin has its own amended return. The general window is three years.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Lumpy income can use the annualized method on Form 2210 instead of four equal payments.

Form 2210 Schedule AI. The annualized worksheet mechanics are unverified, confirm with CPA. Pending CPA review.

A homeowner can sometimes rent a home to the business for up to 14 days for a real business purpose. The rent has to match local fair rates, and the business has to be a separate taxpayer. This draft treats an S corporation or C corporation as the cleaner case, a partnership as a CPA question, and a sole proprietorship or disregarded single-member LLC as not likely.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

An unpaid invoice is not deductible for a cash-basis business, because that income was never reported.

Schedule C, only for a real debt that was included in income. The cash-basis rule is unverified, confirm with CPA. Pending CPA review.

Fees from a bank, Stripe, PayPal, Square, or a similar processor. The same fee is not also an advertising cost. Pending CPA review.

Schedule C line 27a. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

FinCEN's 2026 rule exempts U.S. companies and U.S. persons from beneficial ownership reporting. A fee letter is a scam.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

U.S. companies and U.S. persons do not file a beneficial-ownership report under the 2026 FinCEN rule. A letter demanding a fee is a scam.

No BOI form for a U.S. company. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Bogus self-employment tax credit claims. Social-media posts and promoters selling a special credit for the self-employed are a Dirty Dozen warning.

Not a line to claim.. No savings number. Pending CPA review.

Profit is business income minus ordinary and necessary expenses. The Schedule C instructions walk through that math.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Paid leave, educational assistance, the employer tip credit, and several energy provisions are on the IRS provisions page.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A C corporation pays federal income tax at a flat rate on its own profit. Dividends can be taxed again to the owner. This draft shows the flat rate only. It does not prepare Form 1120.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A cash balance plan is a defined benefit plan. An actuary computes the contribution.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A business under the gross-receipts threshold may use the cash method and a simpler inventory method.

The accounting-method statement. The simplified-inventory mechanics are unverified, confirm with CPA. Pending CPA review.

A personal casualty loss is generally limited to a federally declared disaster. A theft loss needs a profit motive, such as an investment scam.

Form 4684. State-declared disasters and the theft-loss ruling are unverified, confirm with CPA. Pending CPA review.

Missed depreciation on business or rental property may be caught up this year with an automatic method change, instead of an amended return.

Form 3115. The automatic-change mechanics are unverified, confirm with CPA. Pending CPA review.

People 50 and older, and a smaller group ages 60 to 63, can have a higher retirement deferral.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The business share of a cell phone and home internet bill can be a deduction. The same monthly bill should be counted once, not again for every business.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Gifts to charity are deductible only when they beat the standard deduction, or when they are bunched into one year.

Schedule A. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The federal care credit and the Wisconsin add-on for full-year residents are separate from a dependent-care FSA.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The federal credit can reach 50% of work-related care, after any dependent-care FSA.

Form 2441 and Wisconsin Schedule WI-2441. The federal phase-down by AGI and the Wisconsin add-on formula are unverified, confirm with CPA. Pending CPA review.

A qualifying child can produce a credit that phases out as income rises. Hiring the child does not by itself end the credit.

Schedule 8812. Draft child tax credit 2200 per qualifying child under 17. Pending CPA review.

The new clean vehicle credit and the commercial clean vehicle credit are not available for a vehicle acquired after September 30, 2025.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A study can split a building into parts that depreciate faster. The IRS audit guide is for examiners and is not itself a statute.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A convention on a cruise ship has a dollar cap and extra conditions. It is not added on top of the travel line.

Section 274(h), as a limit on the travel line. The $2,000 cruise cap is unverified, confirm with CPA. Pending CPA review.

Small purchases at or under a dollar threshold can sometimes be expensed instead of capitalized. It is an election on the tax return. A written policy is required for some businesses and wise for the rest.

Schedule C, with the de minimis election. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The 2026 senior, qualified tip, overtime premium, and personal car-loan interest deductions are described on the IRS page for working Americans and seniors.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Deferred sales trusts. These are not a normal installment sale. Treat them as high risk.

Not a line to claim.. No savings number. Pending CPA review.

A small business can get a credit for access costs, and a barrier-removal deduction has its own cap.

Form 8826 and section 190. The credit dollar band and the $15,000 barrier cap are unverified, confirm with CPA. Pending CPA review.

A gift of stock held more than a year can be a charitable deduction of the value, not the cash you paid.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Dues for a professional association or a chamber of commerce can be ordinary. Country club, social, and athletic club dues are not deductible. Pending CPA review.

Schedule C line 27a. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Education that maintains or improves skills in the current business can be an ordinary cost. Education that qualifies you for a new trade is not deducted here. Pending CPA review.

Schedule C line 27a. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A written plan can pay up to $5,250 a year per employee for tuition or student loans.

The business return, under the plan. The 5% owner-and-family cap is unverified, confirm with CPA. Pending CPA review.

Employee retention credit mills. A promoter that fills in a late ERC claim for a fee is a warning. Late 2021 third and fourth quarter claims filed after January 31, 2024 are limited.

Not a line to claim.. No savings number. Pending CPA review.

Late 2021 third and fourth quarter claims filed after January 31, 2024 are limited. A promoter selling the credit is a scheme.

Not a 2026 credit to add. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Paying for or providing employee childcare can produce a credit of 40%, or 50% for an eligible small business.

Form 8882. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A credit for employer childcare costs. It is not the family's child and dependent care credit.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Section 179D ends for construction that begins after June 30, 2026.

Form 7205. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The estate and generation-skipping exemption is a 2026 figure. The annual gift exclusion is already in the app and is not counted again.

Form 709. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

People with income that is not withheld on often pay estimates. A safe harbor looks at this year or last year.

Form 1040-ES. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Meals are often half deductible. Business gifts are limited. Travel has its own records rule.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Fake charities. A deduction needs a real charity. A lookalike name is not enough.

Not a line to claim.. No savings number. Pending CPA review.

Fake FinCEN letters. A letter or form that demands a fee for beneficial-ownership reporting is a scam. U.S. companies are not required to file that report under the 2026 rule.

Not a line to claim.. No savings number. Pending CPA review.

Fake Form 2439 refund claims. A form for undistributed capital gains is not a refund coupon.

Not a line to claim.. No savings number. Pending CPA review.

Fake withholding. Made-up W-2s or 1099s that invent tax withheld are not a filing strategy.

Not a line to claim.. No savings number. Pending CPA review.

An LLC has no board of directors unless the documents create one. A fee still has to be pay for real work.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Tax on a sale of farmland to a qualified farmer may be paid in four installments.

Section 1062. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

An employer may get a credit for Social Security and Medicare tax on tips above the minimum wage.

Form 8846. Whether beauty services are included is unverified, confirm with CPA. Pending CPA review.

Ghost preparers. A preparer who will not sign the return is a warning sign.

Not a line to claim.. No savings number. Pending CPA review.

The IRS gift-tax FAQ lists a $19,000 annual exclusion per recipient for 2026.

The form line depends on the return. Pending CPA review.. Draft annual exclusion 19000 per person. Pending CPA review.

Someone covered by an HSA-eligible high-deductible health plan may be able to contribute up to the annual limit and deduct it. The draft limits are $4,400 self-only and $8,750 family, plus $1,000 at age 55 or older. Contributions for 2026 can often be made until April 15, 2027. They do not reduce self-employment tax in this draft.

Form 8889. Draft self-only HSA limit 4400. Pending CPA review.

Wages for real, age-appropriate work can be a business deduction. For a sole proprietorship or a partnership owned only by the parents, wages to children under 18 are generally exempt from Social Security and Medicare. A single-member LLC taxed as a sole proprietorship is treated that way in this draft. An S corporation does not get that exemption. This draft uses the child's standard deduction as a ceiling to discuss, not as a paycheck to copy.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A spouse on the payroll has to do real work. Payroll tax and benefit rules are different from hiring a young child.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Losses in most years can cause the activity to be treated as a hobby, and hobby expenses are not deductible.

Schedule C review. The three-of-five-years presumption is unverified, confirm with CPA. Pending CPA review.

The charger credit under section 30C is not allowed for property placed in service after June 30, 2026. An earlier 2026 installation can still be a CPA question, and only in an eligible census tract.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A space used regularly and exclusively for the business, and that is the principal place of business, may support a home-office deduction. This draft shows only the simplified method: $5 per square foot, up to 300 square feet. The regular method is a CPA question. W-2 employees cannot take this for a job.

Schedule C, simplified method, or Form 8829. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Gain on a main home can be excluded up to the statutory amount when the ownership and use tests are met.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Bronze and catastrophic plans and direct primary care can be HSA-compatible in 2026. The contribution is only on the HSA card.

Form 8889, on the HSA card. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

If someone promises a deduction that is much larger than the cash you put in, stop and ask your own CPA before you sign.

Not a line to claim.. No savings number. Pending CPA review.

An installment sale reports gain as payments are received. Depreciation recapture is generally recognized in the year of sale.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Selling at a loss and giving appreciated stock are different moves. Each has its own official page.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A spousal IRA, a backdoor Roth, and the 2026 Roth catch-up rule are separate from the business plan deduction.

Form 8606 and the W-2 plan. The phase-out when one spouse is not covered by a workplace plan is unverified, confirm with CPA. Pending CPA review.

Promoter patterns, including a fake self-employment credit, fake withholding, ghost preparers, and employee-retention-credit mills.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

An S corporation election uses Form 2553. An S corporation generally cannot be owned by a partnership or a corporation.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Mortgage interest, the state and local tax cap, charity, and medical expenses are compared with the standard deduction. Insurance and HOA dues on a personal home are not deductible.

Schedule A. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A child's investment income can be taxed at the parent's rate. Wages from a real job are earned income and are not in that rule.

Form 8615 or Form 8814. The $2,700 second tier is unverified, confirm with CPA. Pending CPA review.

A late Form 2553 may be accepted without a letter ruling when returns were filed as if the election was in effect.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A late Form 2553 may still be accepted when every return was filed as if the S election was already in effect.

Form 2553, late relief. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Fees for a lawyer or other professional for the business. Personal legal fees are not. Pending CPA review.

Schedule C line 17. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A 1031 exchange defers gain on real property. It does not reduce ordinary business income.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A large business loss can become a carryforward. Interest and net operating losses have their own caps.

Form 461 and Form 8990. The 80% net-operating-loss limit and the interest-limit mechanics are unverified, confirm with CPA. Pending CPA review.

From 2026, meals provided for the employer's convenience, including many office snacks, are generally not deductible.

Section 274(o), not a deduction. The exceptions for certain vessels and restaurants are unverified, confirm with CPA. Pending CPA review.

Employer-convenience meals are generally not deductible in 2026. A cruise convention has a separate cap and is not a second travel deduction.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A mileage deduction needs a log with the date, miles, and business purpose. The 2026 business rates change on July 1.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Misleading social-media tax advice. A short video is not a ruling. Check the IRS page before acting.

Not a line to claim.. No savings number. Pending CPA review.

Monetized installment sales. Promoters sell these as a way to get cash now and defer tax. The IRS has warned against them.

Not a line to claim.. No savings number. Pending CPA review.

Moving expenses are deductible only for members of the armed forces and certain intelligence-community moves.

Form 3903. The intelligence-community rule is unverified, confirm with CPA. Pending CPA review.

The builder credit for a new energy-efficient home is discussed only for homes acquired by June 30, 2026.

Form 8908. The June 30, 2026 end date is unverified, confirm with CPA. Pending CPA review.

Only the premium half of FLSA overtime on a W-2 may be deducted.

Form 1040, below AGI. The $100-per-$1,000 phase-out, contract-only overtime, and Wisconsin treatment are unverified, confirm with CPA. Pending CPA review.

Qualified tips in a listed occupation may be deducted, up to $25,000.

Form 1040, below AGI. The $100-per-$1,000 phase-out and Wisconsin treatment are unverified, confirm with CPA. Pending CPA review.

Non-cash charity overvaluation. Inflated values for art, easements, or other property are a Dirty Dozen pattern.

Not a line to claim.. No savings number. Pending CPA review.

Cash gifts can be deducted without itemizing, up to a cap. Donor-advised funds do not count. The tax picture already includes this once.

Already in the tax picture. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Offer-in-compromise mills. A promise to settle tax debt for pennies, before anyone reviews the file, is a promoter pattern.

Not a line to claim.. No savings number. Pending CPA review.

Offshore trusts and hidden accounts. Moving income offshore does not make it disappear.

Not a line to claim.. No savings number. Pending CPA review.

Accountable plans, hiring family, the home, meals, startup costs, and retirement deadlines each have their own official pages. This list does not add a second deduction.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

An Opportunity Zone investment can defer eligible capital gain. It does not defer business income.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A written paid-leave policy can produce a credit of 12.5% to 25% of leave wages.

Form 8994. The 12.5% to 25% rates are unverified, confirm with CPA. Pending CPA review.

A section 707(c) payment is pay to a partner for services or capital, without regard to partnership income.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Interest on a new U.S.-assembled personal vehicle, bought with a loan after 2024, may be deducted up to $10,000.

Form 1040, below AGI. The $200-per-$1,000 phase-out is unverified, confirm with CPA. Pending CPA review.

Phishing and fake IRS contact. Texts, AI phone calls, and messages that impersonate the IRS or an IRS online account are not from the IRS.

Not a line to claim.. No savings number. Pending CPA review.

For 2026 there is no cap on repaying excess advance premium tax credit, and the income limit is back to 400% of the poverty level.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A cash-basis business may be able to deduct some payments made by December 31 for a benefit that does not last more than 12 months. Rent, insurance, subscriptions, and supplies are the usual examples.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A small employer with no group plan may reimburse medical costs through a QSEHRA. This file does not have a separate ICHRA page.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Some business profit can qualify for a deduction. Specified service businesses can lose it as income rises.

Form 8995 or Form 8995-A. Draft thresholds 201750 single and 403500 joint. Pending CPA review.

A person old enough can send IRA money directly to charity. It is not claimed as a deduction.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Original-issue stock in a qualifying C corporation can exclude gain after the holding period. Some trades are excluded.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Original-issue C corporation stock can exclude part or all of the gain after a holding period. Some trades are excluded.

Form 8949. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The IRS describes the records a business keeps for income and expenses. The meter on each card is an estimate, not an audit prediction.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The IRS publishes a yearly list of tax scams. A promise that sounds too good needs a CPA before anyone acts.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The window to amend 2022 through 2024 research costs closed on July 6, 2026. Current-year domestic research may be deducted under section 174A. This app does not compute a credit.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The 30% home energy credits under sections 25C and 25D ended after 2025. A 2026 purchase does not get that credit.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Money moved from a traditional IRA to a Roth IRA is taxed in the year of the conversion.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A rural opportunity zone uses a 50% substantial-improvement test. The gain stays on the opportunity-zone card.

The opportunity-zone card. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A sole proprietorship or LLC with profit above a draft rule of thumb may want to ask whether an S-corp election for 2027 is worth the payroll, the tax return, and a reasonable salary. The rule of thumb is not an IRS threshold. This app does not estimate the savings, because that would require inventing a salary.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Health insurance for an S corporation owner who owns more than 2% is handled through wages, not as a tax-free employee benefit.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

An owner who works in an S corporation is expected to take reasonable W-2 pay. This screen only flags $0 pay, pay under 30% of pay plus distributions, or pay that looks very high under a draft 90% test. It never computes a correct salary and it does not estimate savings.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Interest on qualified savings bonds used for education can be excluded, with a phase-out.

Form 8815. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A federal credit up to $1,700 starts in 2027 and needs the state to opt in.

A 2027 credit, not a 2026 deduction. Whether Wisconsin opted in is unverified, confirm with CPA. Pending CPA review.

A business that buys equipment, machinery, computers, software, or a qualifying vehicle and has it ready to use by December 31 may be able to deduct a large share of the cost in the year it is placed in service. Section 179 is limited by business income. Bonus depreciation can create a loss. Wisconsin may not follow the federal bonus rules.

Form 4562. Draft Section 179 dollar cap 2560000. Bonus rate 100%. Pending CPA review.

A self-employed person who pays health, dental, or qualifying long-term-care premiums, and who is not eligible for an employer plan (including a spouse's plan), may be able to deduct the premiums. The deduction does not reduce self-employment tax in this draft. For an S corporation, the premiums generally have to be included on the W-2.

Form 1040, self-employed health insurance. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A person age 65 or older may deduct up to $6,000, whether or not they itemize.

Form 1040, below AGI. The 6% phase-out rate and Wisconsin conformity are unverified, confirm with CPA. Pending CPA review.

A SEP-IRA lets a profitable business set aside retirement money, often up until the tax return due date including extensions. For a sole proprietor the draft math uses about 20% of net earnings after half of the self-employment tax. Contributions do not reduce self-employment tax in this draft.

Form 1040, schedule for the SEP. Draft employee deferral limit is separate. A SEP uses the employer percentage, not that deferral. Pending CPA review.

A SEP is an employer contribution based on that business's earnings. It does not use the W-2 401(k) or 403(b) deferral limit, and it can often be opened and funded by the return due date, including extensions. A Solo 401(k) adds an employee deferral. That deferral is per person across every 401(k), including a day job and a spouse on payroll. A first-year sole proprietor with no employees can open the plan after December 31, up to the original due date without extensions. A SIMPLE plan has its own lower deferral and is generally opened by October 1. A defined benefit or cash balance plan is set by an actuary. Each unrelated employer's annual-additions limit is separate. This card does not tell anyone to switch plans.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Rental losses are often passive. Short stays and hours worked are part of the tests, not the whole rule.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A credit for employee premiums bought through SHOP. It is not also a self-employed health insurance deduction.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Fewer than 25 full-time-equivalent employees, at least half of premiums paid, and coverage bought through SHOP, can produce a credit for two years.

Form 8941. SHOP availability in Wisconsin is unverified, confirm with CPA. Pending CPA review.

A new 401(k), SEP, or SIMPLE with employees can earn setup and contribution credits. An owner-only plan generally does not.

Form 8881. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Apps, software, and cloud storage used in the business. A personal subscription is not. Do not also enter the same bill as equipment. Pending CPA review.

Schedule C line 27a. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

An owner-only 401(k) can allow an employee deferral plus an employer contribution. The deferral limit is per person across every 401(k), including a day job and a spouse's plan. A sole proprietor with no employees can open a first-year plan after December 31, up to the original return due date without extensions, for that year's deferrals. S corporation deferrals still go through payroll by December 31. A business with employees other than the owner and spouse generally cannot use a solo plan. Contributions do not reduce self-employment tax in this draft.

Form 1040, and Form 5500-EZ when required. Draft employee deferral limit 24500. Pending CPA review.

Costs to investigate and open a business, before it is running, can sometimes be partly deducted in the first year. The rest is spread over 180 months. Startup costs and organizational costs are figured separately, each with its own first-year amount.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Wisconsin tax in this app comes from the 2026 Form 1-ES instructions. Reciprocity covers wages only.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Student loan interest may be deducted up to $2,500, with a phase-out.

Schedule 1. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Syndicated conservation easements. The IRS has listed these. A large deduction from a deal you did not run yourself is a warning sign.

Not a line to claim.. No savings number. Pending CPA review.

The picture is a planning estimate of federal tax, the QBI deduction, and the child tax credit. It is not a return.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Transit, parking, a health FSA, and a dependent-care FSA have 2026 caps. The dependent-care FSA is already on the tax step.

The employer's fringe forms. De minimis and working-condition fringes, and the rule for S corporation owners over 2%, are unverified, confirm with CPA. Pending CPA review.

Capital losses offset capital gains. A limited amount can offset ordinary income.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Lodging, airfare, and rental cars count when the trip requires sleep or rest away from home for the business. A commute does not. Cruises and conventions have extra limits, and this draft does not deduct a cruise. Travel meals are the next category, at 50%. Pending CPA review.

Schedule C line 24a. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Meals while traveling overnight for business are generally 50% deductible. They are not part of the lodging and airfare total. Pending CPA review.

Schedule C line 24b. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A Trump Account is a new kind of IRA for an eligible child. This app does not compute a benefit.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A business vehicle can be discussed as standard mileage or as actual expenses. When miles and cash costs are entered, this draft compares them and shows which side is larger. Depreciation is not fully calculated. A corporation often uses an accountable plan instead of a Schedule C deduction.

Schedule C line 9. Draft mileage 0.725 through June 30 and 0.76 after. Pending CPA review.

Wages and bonuses are ordinary income. They also use up the Social Security wage base.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

ABLE contributions, long-term-care premiums, and medical premiums that were not pre-tax can be Wisconsin subtractions.

Wisconsin Schedule SB. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A WEDC-certified investment can produce a Wisconsin credit, and the credit can be repaid if the investment is held under three years.

Wisconsin Schedule VC. The 25% rate is unverified, confirm with CPA. Pending CPA review.

Wisconsin has not followed federal bonus depreciation. Section 179 is treated differently from bonus.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Edvest, private-school tuition, and college tuition each have a Wisconsin subtraction.

Wisconsin Schedule SB and Schedule PS. The 2026 Edvest and tuition amounts are unverified. These figures are from 2025, confirm with CPA. Pending CPA review.

An employer that contributes to an employee's Edvest account may get a Wisconsin credit.

Wisconsin Schedule ES. The credit amount is unverified, confirm with CPA. Pending CPA review.

Wisconsin estimated tax and the 2026 rate schedules are in the Form 1-ES instructions.

Wisconsin Form 1-ES. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Married couple, school property tax, homestead, angel, research, and rehab credits are Wisconsin credits. They are not federal deductions.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

A low-income homeowner or renter in Wisconsin may get a homestead credit.

Wisconsin Schedule H. The homestead details are unverified, confirm with CPA. Pending CPA review.

A credit for qualified production income from manufacturing or agriculture in Wisconsin.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Income from making products or farming in Wisconsin may get a manufacturing and agriculture credit.

Wisconsin Schedule MA-M or MA-A. The 7.5% rate and whether a craft, print, or food business counts as manufacturing are unverified, confirm with CPA. Pending CPA review.

Two spouses with earned income may get a married couple credit. A homeowner or renter may get a school property tax credit.

Wisconsin Form 1. The married-couple formula and the rent-to-tax percent are unverified, confirm with CPA. Pending CPA review.

An S corporation or a partnership may elect to pay Wisconsin tax at the entity level. A disregarded single-member LLC generally cannot.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Historic rehab, business development, and community rehab credits exist on the Wisconsin credit schedule.

Wisconsin Schedule CR. The credit details are unverified, confirm with CPA. Pending CPA review.

Wisconsin has its own research credit. The federal research credit is not computed in this check.

Wisconsin Schedule R. The Wisconsin rates are unverified, confirm with CPA. Pending CPA review.

A Wisconsin resident age 67 or older may subtract retirement income, and gives up other Wisconsin credits if they do.

Wisconsin Schedule SB. The 2026 dollar amounts are unverified. These figures are the 2025 instructions, confirm with CPA. Pending CPA review.

Wisconsin may subtract gain on business or farm assets held more than a year when they are sold to a related person.

Wisconsin Schedule SB. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Schedule SB covers the retirement subtraction, education subtractions, and other Wisconsin subtractions. 2026 instructions may still be the 2025 figures.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Wisconsin has wage reciprocity with Illinois, Indiana, Kentucky, and Michigan. It does not cover self-employment income.

The form line depends on the return. Pending CPA review.. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

W-2 withholding and estimated payments are compared with this year's tax and with the prior-year safe harbor. Wisconsin employees use Form WT-4.

Form W-4 and Wisconsin Form WT-4. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

The credit is only for hires who began work on or before December 31, 2025, unless Congress extends it.

Form 5884 and Form 8850. Specific 2026 dollar limits for this item are not all stored as a single figure. Pending CPA review.

Calling an employee a contractor can create back taxes. A PEO does not by itself create a credit.

The worker-classification review. Whether a PEO makes the health or retirement credits easier is unverified, confirm with CPA. Pending CPA review.