Anthony J. Mascherino Certified Public Accountant

January 2026

Dear Friends,

HAPPY NEW YEAR! It’s hard to believe that 2025 is behind us. We hope it was a good year for you and that 2026 will be even better. Meanwhile, it’s TAX TIME! Please start gathering your information.

There were many significant tax changes for 2025 and 2026. Here are some of the highlights:

Standard Deduction increased to $15,750 for singles and $23,625 for married filing joint filers.
State and Local Taxes are now deductible up to $40,000 up from $10,000.
Interest on New Car Purchases up to $10,000, is deductible for cars manufactured in the U.S.
Tip Income up to $25,000 is excludible if reported on W2.
Overtime Income up to $25,000 is excludible if reported on W2.
“Senior Citizen” Deduction up to $6,000 is excludible from your income.
Charitable Contributions made directly from your Required Minimum Distribution (RMD) are excludible from your income.

If you would like a 2025 TAX ORGANIZER, contact our office and we will send one to you. If not, please sign the enclosed engagement letter and complete the questionnaire. This helps us prepare a complete and accurate return. Start gathering all your information. When you have it, you can drop it off, mail, email, or upload it on our portal. If you’d prefer; you can make an appointment. Please give us your ORIGINALS of all documents. NO STAPLES PLEASE.

Don’t forget to let us know of any changes to your situation, such as marital status, address, dependents, retirement.
Remember that the IRS will never email or call you about a past due bill. It’s probably a SCAM.
All REFUNDS in the future will be made by DIRECT DEPOSIT. Please provide us with a voided check to verify bank routing and account numbers.
As you know by now, we offer a wide array of personal and professional services. Let us know if we can help you.

I again want to THANK YOU for putting your trust in me and the gang; Kim, Julie, Stacey, Maryellen, Phil, and Anthony Jr. It really means a lot. As always, if you have any questions, do not hesitate to give us a call or visit our website at www.ajmascherinocpa.com.

Sincerely,
ANTHONY J. MASCHERINO