Navigating Common Tax Mistakes and New Tax Laws for 2026
In this episode of Techie Personal Finance Bootcamp, the host discusses several common tax mistakes and introduces new tax laws for 2026. Starting with essential tax preparation steps, the episode explains the importance of gathering relevant tax documents, considering new changes like RSUs and employer stock, and the pitfalls of rushing to file taxes without all forms. The host emphasizes the need for meticulous reporting, particularly for tech professionals dealing with employer stock and those affected by income limits on IRA contributions. The episode also covers strategies such as backdoor Roth conversions, handling 1099 forms accurately, and the implications of recent changes to the state and local tax cap. Additional tips include maximizing dependent care credits, 529 plan contributions, and rental property depreciation. Finally, the host advises business owners on correctly claiming legitimate business expenses to avoid IRS scrutiny. Listeners are encouraged to seek professional advice and ensure all financial details are accurately reported.
00:00 Introduction to Techie Personal Finance Bootcamp Season 8
01:23 Essential Tax Preparation Tips for 2026
01:53 Understanding New Tax Changes and Forms
02:22 Avoiding Common Tax Filing Mistakes
03:06 Time Travel Techniques for Tax Contributions
04:47 Automatic Tax Adjustments and Deductions
05:37 Maximizing Itemized Deductions
07:01 Common Tax Filing Errors and How to Avoid Them
09:05 Special Considerations for High Earners and Stock Options
12:24 Tax Tips for Parents and Property Owners
14:35 Final Thoughts and Looking Ahead
https://www.levelupfinancialplanning.com/tax-planning-retirement-accounts-backdoor-roths/
