Scams: Everyone's Problem, Not Just a Few

Scams are everywhere, and they're getting smarter. It's not just about the money you lose. It's about the mess it leaves behind. Take Larry, for example. He and his wife saved over a million dollars. It took them a lifetime. But scammers took it all in just six months. And that's not even the worst part. The tax bill that came after? That was a surprise. And Medicare got more expensive too. Scammers don't care who you are. They don't care how old you are or where you live. They don't care if you're a worker or a boss. They don't even care if you're a tax expert. They'll target anyone. They'll use social media. They'll use phishing. But most of the time, they'll just call you up. The IRS has some advice. They say, start early. Get your documents ready. Know the new rules. It's not just about the money you save. It's about the stress you avoid. And speaking of new rules, there are some big changes coming. No tax on tips. No tax on overtime. No tax on Social Security. No tax on car loan interest. But remember, these aren't exemptions. They're temporary deductions. And there are rules and exceptions. And if you're thinking about claiming your son as a dependent, think again. You don't have to. Even if he qualifies. It's your choice. But if you don't claim him, his income won't be included in your household income for premium tax credit purposes. It's a simple choice. But it's an important one. Charitable giving is changing too. The standard deduction is going up. That means fewer people will itemize their deductions. That means fewer people will get a tax break for their charitable giving. But Congress has an answer. Starting in 2026, taxpayers who claim the standard deduction can claim a deduction for charitable giving. Up to $1, 000 for single filers. Up to $2, 000 for married couples. But there are rules and exceptions. HSAs are a good deal. You can make pre-tax contributions. Your employer can too. And the money grows tax-free. And when you take it out? It's not taxable for federal income tax purposes. And you can roll it over from year to year. And it's portable. You can keep it if you change jobs. Or retire. Or leave the workforce. There are deadlines to remember. December 31, 2025. That's the deadline for required minimum distributions. January 15, 2026. That's the deadline for the fourth quarter 2025 estimated tax payment. January 31, 2026. That's the deadline for employers to provide employees with wage statements. There are conferences and events. December 29, 2025. That's the date for the public meeting of the Community Development Advisory Board. January 5, 2026. That's the date for the National Society of Tax Professionals 2026 Las Vegas Grand Event. January 15-17, 2026. That's the date for the American Bar Association Section of Tax 2026 Midyear Tax Meeting. And if you're wondering about pets, they can be beneficiaries. But they can't be dependents. And if you're wondering who left $12 million for the care of their Maltese Terrier, Trouble, the answer is Leona Helmsley.