HIVE TAX AI
Lotus Li
Lotus Li is a CPA who has transformed 20 years of professional experience into building products with a mission to simplifying everyone’s tax journey. She is passionate about bringing cutting-edge AI into the world of tax and finance and is deeply immersed in designing, building, and launching innovative AI-powered tax solutions.
Are there expanded credits for education through state or federal programs this season?
Here’s what HIVE AI had to say about "Are there expanded credits for education through state or federal programs this season?": Federal (IRS) education credits this filing season (generally 2025 income filed in 2026) There are not new “expanded” federal education...
What new charitable contribution deduction rules apply in 2026?
New/returned “non-itemizer” charitable deduction: Beginning with tax year 2026, if you don’t itemize deductions, you can still deduct up to $1,000 ($2,000 if married filing jointly)
Which taxpayers benefit most from the increased standard deduction?
Taxpayers benefit most when the increased standard deduction is larger than what they could otherwise claim as itemized deductions (Schedule A)
What is the maximum Earned Income Tax Credit for 2025 income?
For tax year 2025 (2025 income), the maximum federal EITC depends on how many qualifying children you have:
Augusta Tax Strategies for Business Owners and HNW Clients: One of the Biggest AI Tax Planning Opportunities for 2026
Augusta tax strategies remain one of the most overlooked AI tax planning opportunities for business owners and high-net-worth clients heading into the 2026 tax season.
How do filing status changes (marriage/divorce) affect returns this year?
For the return most people are filing in 2026 (the 2025 tax year), your filing status is generally based on whether you were married or unmarried on December 31, 2025.
How do dependents impact 2026 tax credits?
If you mean your 2026 tax return (tax year 2026, typically filed in 2027), dependents mainly affect these credits: Child Tax Credit/Additional Child Tax Credit, Credit for Other Dependents
What are the key considerations for first-time homebuyers?
Home mortgage interest is generally deductible only if you itemize deductions on Schedule A and the loan proceeds were used to buy, build, or substantially improve the home securing the loan.
How are education expenses treated on 2025 returns?
For 2025, you generally use qualified education expenses you paid in 2025 for an academic period that begins in 2025 or begins in the first 3 months of 2026 (for example, tuition paid in December 2025
What are deductions available to self-employed taxpayers this season?
You generally deduct ordinary and necessary expenses of carrying on your trade or business against your self-employment income (for example, supplies, advertising, professional fees, contract labor, business insurance, etc.).