Tax Forms and Mistakes You Can't Miss

EPISODE RESOURCES2025 Federal Tax BracketsNavigating Tax Season: Common Forms, Mistakes, and DeductionsIn this episode of the New Money, New Problems podcast, we dive into common tax forms and mistakes that you don't want to miss during tax season. Topics range from the importance of accounting for all income sources, including W-2s, 1099s, and income from high-yield savings and brokerage accounts. Brenton elaborates on the significance of accurately reporting restricted stock units (RSUs) on your W-2 and explores various tax deductions, both above-the-line and below-the-line, including retirement contributions, health savings accounts, and itemized deductions like mortgage interest and property taxes. This episode is packed with valuable information to help you optimize your tax filing and maximize your financial benefits.00:00 Introduction to Common Tax Forms and Mistakes00:45 Welcome and Recent Events in Nashville01:37 Importance of Tax Filing Season02:34 Understanding Different Income Sources04:45 Common Mistakes with W2 and Equity Compensation08:21 Above the Line Tax Deductions10:04 Standard Deduction vs. Itemizing Deductions12:02 Below the Line Deductions for Homeowners12:55 Medical and State/Local Tax Deductions14:56 Charitable Contributions and Home Equity Line of Credit16:46 Recap and Calculating Taxable Income19:21 Introduction to Tax Credits20:27 Child and Education Tax Credits23:20 Conclusion and Final AdviceSupport the show