Weekly roundup
Hello readers! Here’s what’s happening this week in taxes and finance:
We’ve got the latest insights, practical tips, and updates to help you make smarter financial decisions and move closer to financial freedom. Whether you’re planning for taxes, tracking your investments, or just staying informed, there’s something here for everyone.
Featured Tax Post
How to Deduct State and Local Taxes
State and Local Taxes are one of the most valuable deductions available to individuals —but only if you itemize. If you take the standard deduction, you cannot deduct your state income, sales, or property taxes at all. Itemizing on Schedule A is the only way to unlock the SALT deduction, which can significantly reduce your taxable income, especially for homeowners and taxpayers in higher-tax states. This guide focuses on how State and Local Taxes work, what counts toward the deduction, and how using Schedule A correctly can help you keep more of what you earn.
Featured Finance Post
Leveraged ETFs Explained
Leveraged ETFs are designed to make money faster when markets move in your favor, but they can also lose money much faster when they don’t. The idea of earning “2×” or “3×” returns sounds exciting, especially in strong markets. However, these funds are often misunderstood by everyday investors. Their structure magnifies both gains and losses. For most people, the risks usually outweigh the potential rewards.
Tax Tips You Can’t Miss:
Use education credits - American Opportunity & Lifetime Learning Credit.
Use tax-efficient investing – hold high-yield assets in tax-advantaged accounts.
Check phase-outs – many credits/deductions disappear at higher incomes.
Money Moves You Need to Know:
Protect your downside - insurance before investing harder.
Invest in skills - income growth beats frugality alone.
Avoid lifestyle inflation – raises ≠ new expenses.
Smart Newsletters We Recommend:
Final Thoughts
That’s a wrap for this week! Remember, small, consistent steps in managing your taxes, finances, and investments can have a big impact over time. Stay informed, take action, and keep moving closer to financial freedom.
This newsletter is for informational purposes only and is not financial, investment, or tax advice. Always consult a qualified professional regarding your specific financial situation before making decisions.
Have questions or topics you want us to cover? Hit reply — we’d love to hear from you!
Stay savvy, stay empowered,
— The TaxFi Solutions Team