Tax laws continue to evolve, and recent changes introduce several new and enhanced tax deductions that may impact individuals in upcoming filing seasons. While not every taxpayer will qualify, understanding what’s available — and how these deductions work — is an important part of proactive tax planning.
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This first article focuses on what’s new, who these deductions may apply to, and why planning ahead matters.

What Is a Tax Deduction?
A tax deduction reduces the amount of income subject to federal tax.
Lower taxable income can lead to a lower overall tax obligation.
Deductions are different from tax credits, which reduce taxes owed dollar-for-dollar. While deductions don’t always provide immediate savings, they can significantly affect your tax outcome when used strategically.

New Deductions to Be Aware Of
Several new or expanded deductions are expected to be available in upcoming filing seasons. All are subject to income limits and eligibility requirements.

Additional Deduction for Seniors
Taxpayers age 65 and older may be eligible for an additional $6,000 deduction.
This deduction may be available whether you itemize or take the standard deduction, depending on income level.

Deductions for Tipped Workers
Some individuals who earn tips may be eligible to deduct up to $25,000 in qualified tips.
Because tipped income must be properly reported to qualify, documentation and compliance are essential.

Overtime Income Deduction
Individuals may be eligible to deduct:

• Up to $12,500 (single filers)
• Up to $25,000 (joint filers)

This deduction applies only to qualifying overtime income and phases out at higher income levels.

Passenger Vehicle Loan Interest
Taxpayers may be able to deduct up to $10,000 in interest paid on qualifying passenger vehicle loans.
Eligibility depends on the type of vehicle, loan structure, and other specific criteria.

Why Planning Ahead Matters
Many of these deductions phase out as income rises. In some cases, earning slightly more can significantly reduce or eliminate eligibility.
Understanding these rules early allows for better planning, smarter decisions, and fewer surprises at tax time.

Coming Next in Part 2
In Part 2, we’ll cover standard vs. itemized deductions, current standard deduction amounts, documentation requirements, and available IRS tools that can help taxpayers navigate these changes.

In today’s digital-first business world, your photo often speaks before you do. It shows up on LinkedIn, your website, Zoom calls, proposals, and marketing materials—sometimes all before a prospect ever meets you.

That’s why one of the smartest (and most overlooked) investments a business owner can make is a professional business portrait that actually feels like you.

This week’s Matching Ideas with Resources spotlight is on a colleague who has mastered that exact outcome.

After more than 35 years specializing in professional portraits, Jared has refined a process that removes the most common frustration people have with headshots: not liking the final image. His solution is simple—and surprisingly rare.

He retouches your photo with you, during the session.
Instead of waiting days and hoping the final result matches your expectations, you collaborate in real time. Adjustments are made on the spot, ensuring the finished image reflects how you want to show up professionally. The result? A business portrait you don’t just accept—you confidently use.
Even better, Jared backs this with a “Like It or Love It” guarantee, which is almost unheard of in this space.

For a limited time, he’s also offering a Valentine’s Day Professional Business Portrait Special, which includes:

• A professional business portrait session
• A personal photo session on the same day (if booked before 2/20/26)
• A relaxed, guided experience designed to produce images you’ll actually want to share

At GLM, we often talk about clarity, confidence, and credibility in business. How you visually represent yourself plays a bigger role in all three than most people realize.

If updating your professional image has been sitting on your to-do list, this is a great opportunity to finally check it off—with confidence.
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👉 View the details here:
https://app.signtechsupport.org/location/XdDDCurEqlWNm5tc67Gr/page-builder/0Co0fKg0DSjRgYDAZAMv/versions

Election seasons often make business owners want to tune out. Politics can feel divisive, time-consuming, or disconnected from day-to-day operations. But the reality is this: many policy decisions being discussed right now directly affect small businesses.

From regulations and compliance costs to healthcare, taxes, and trade policy, these decisions shape how small businesses hire, invest, and grow. Staying silent doesn’t stop change—it just removes the small business voice from the conversation.

Engagement Doesn’t Have to Be Political
Getting engaged doesn’t mean arguing online or taking extreme positions. The most effective advocacy is practical and grounded in real experience. Business owners bring something policymakers often lack: firsthand insight into how policies actually work in the real world.
Even small efforts can make a difference:

• Attending local forums or town halls
• Asking thoughtful, business-focused questions
• Sharing real examples of how policies impact operations

Leverage Your Local Chamber
One of the easiest and most effective ways to engage is through your local chamber of commerce. Most chambers have a Government Affairs or Public Policy Committee designed specifically to gather input from business owners and advocate on their behalf.
These committees help:

• Monitor legislation that affects businesses
• Communicate concerns to elected officials
• Amplify small business voices as a group rather than individually

You don’t have to do it alone—and you don’t have to be an expert to participate.

Why It Matters Now
Policies move forward whether small businesses engage or not. The difference is whether those policies reflect real-world business realities—or assumptions made without them.
At GLM Accounting & Business Advisory, we encourage business owners to approach engagement the same way they approach financial strategy: be informed, be intentional, and think long-term.
This is an important moment for the small business community. Now is the time to be part of the conversation.

Learn more at the Daily Herald: www.dailyherald.com/20260131/business/perfect-opportunity-for-small-business-community-to-get-engaged/

​Get involved: https://www.smallbusinessadvocacycouncil.org/