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Child Tax Credit
- Child Tax Credit (children ages 16 and younger) increased to $2,200.
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Overtime Deduction

The law creates a new tax deduction of up to $12,500 ($25,000 if married filing jointly) of qualified overtime pay, effective January 1, 2025. It will be on your W2 Box 12 Code TT.

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Tip Income

The law creates new tax deductions for tips workers making less than $150,000, capped to $25,000 ($50,000 if married).

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Car Interest

The law allows individuals to deduct up to $10,000 per year in auto loan interest for new cars that had their final assembly in the United States and were purchased between January 1, 2025, and December 31, 2028

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Senior Tax Credit

A temporary tax deduction, set to expire in 2028, of up to $6,000 for seniors. A taxpayer is not required to itemize their tax deductions in order to take this tax deduction.

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Donations

A tax deduction for charitable contributions made in cash by individuals who do not itemize. The deduction is limited to $1,000 (or $2,000 if married filing jointly).

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Tax Preparation Alma, AR

You deserve to work with a tax preparation specialist that’s dedicated to helping you make the most out of your tax return. Since 2011, Tax Break of Arkansas in Alma has provided expedient tax preparation services, securing our reputation as the resource that’s up to the task of taking on even the most complicated tax situations. When you come to us, you won’t have to deal with the hassle of out-of-pocket expenses to get your taxes filed as we can deduct from your refund at a later date.

Working to Save You Money

Filing even the most basic tax return can be confusing without the help of a professional, especially when factoring in elements such as deductions and credits. This is why we specialize in income tax preparation for the hardworking residents of our community. Taking into consideration the latest tax laws and regulations, we’ll protect you from potential mistakes and reduce your tax liability.

Individual Income Tax Preparation

It’s easy for complications to arise when filing even the most straightforward of taxes. Our talented team is here to handle it correctly and efficiently, and we’ll even do free returns for dependents.

Year-Round Services

Ensuring your taxes are filed correctly takes the help of a professional, even outside of tax season. At Tax Break of Arkansas, our skilled team of accountants is available year-round for your convenience.