As we move into April, the federal tax deadline is officially in sight. At GLF Enterprises, we know that a solid foundation is the key to any successful project and that includes your finances.
For the 2026 tax season, several new laws have gone into effect that could significantly lower your tax bill.
Here are the three most important updates to check before the Wednesday, April 15 deadline:
- The SALT Deduction is Back If you own a home in California, this is the biggest news of the year. The cap on State and Local Tax deductions, which includes your property taxes, has been raised from $10,000 to $40,400 for the 2026 tax year. If you usually take the standard deduction, ask your CPA if it is time to itemize again.
- A New $6,000 Bonus for Seniors Under the new One Big Beautiful Bill Act, taxpayers age 65 and older can claim an additional $6,000 deduction. This amount increases to $12,000 for married couples if both qualify. This is on top of the standard deduction you already receive, and it is designed to keep more retirement income in your pocket.
- Small Business Perks For those running local businesses, Bonus Depreciation is now set at 100 percent. This means if you bought major equipment for your business last year, you can likely deduct the entire cost in one go. This provides a massive boost to your 2026 cash flow.
The Bottom Line You have until April 15 to file or request an extension. If you are looking for a way to lower your 2025 bill last minute, you can still contribute to your IRA until the April 15 deadline.
We hope these tips help you start the spring with a little extra in the bank!
Disclaimer: We are experts in stone, not taxes. This post is for informational purposes only. Please consult with a professional CPA or tax advisor for your specific situation.
