With new federal tax changes from the One Big Beautiful Bill Act and expanded deductions, the Utah Association of Certified Public Accountants has launched “Talk to Your CPA.” This new social media campaign features money-saving tax strategies from licensed CPAs, with this news release highlighting five of the top strategies for 2026.
“With significant updates to overtime deductions, senior bonuses, and homeowner write-offs, having a licensed CPA in your corner has never been more important,” said Susan Speirs, CPA and CEO of the UACPA. “Through our ‘Talk to Your CPA’ campaign, we’re helping Utah taxpayers understand these changes and take advantage of new opportunities so they can keep more of their hard-earned income. We’re already active on Facebook, Instagram and TikTok, where we’re sharing timely updates and easy-to-understand tax guidance throughout the year.”
Top 5 Tax Strategies for 2026
- 1. The Overtime Pay Deduction: Workers who earned overtime in 2025 can deduct part of their overtime premium pay—up to $12,500 for single filers and $25,000 for married couples. Be aware this is not a full exemption and does not make all overtime pay taxfree. This deduction applies only to the overtime premium—the extra pay earned above the regular hourly rate. Watch video for more details.
- 2. The Senior Bonus Deduction: Taxpayers 65 and older can take a new $6,000 Senior Bonus Deduction—or $12,000 for qualifying married couples. Seniors don’t have to itemize to take this deduction, but they must have turned 65 by Dec. 31, 2025. This deduction starts to phase out if you earn more than $75,000 as an individual or $150,000 as a couple. Watch video for more details.
- 3. The Tip Earner Deduction: Workers in tip‑based jobs such as hairstylists, restaurant servers, and rideshare drivers may deduct up to $25,000 in voluntary customer tips. This federal deduction does not apply to mandatory service charges or automatic gratuities paid by employers. Income phaseouts apply to individuals earning more than $150,000 and joint filers earning $300,000. Watch video for more details.
- 4. SALT Deduction Boost for Property Owners: Own a home? The state and local tax deduction cap has increased from $10,000. Under the new federal tax code, you may be able to deduct as much as $40,000 of taxes you paid in 2025. Watch video for more details.
- 5. The Car Loan Interest Deduction: If you purchased a new vehicle in 2025, you may deduct up to $10,000 in car loan interest. This federal deduction only applies to interest, not the principal portion of your payment. You must be the first owner, the vehicle must have been purchased in 2025 and final assembly must have been in the United States. The deduction applies to personal vehicles including cars, minivans, SUVs, trucks and even motorcycles with a gross vehicle weight rating of less than 14,000 pounds. Used cars don’t qualify. Watch video for more details.
Bonus Tip: Don’t ignore a 1099-K. With a growing gig economy, more Utahns may be getting one or more 1099-K forms that lists their income from side hustles. If you collect payments using apps such as Venmo, PayPal or CashApp, watch for a 1099-K form and be sure to report your actual income to the IRS. Remember, the IRS receives a copy of this form too and mismatched income on your tax return can catch the eye of the IRS. Watch video for more details.
Resources: •
- Do you need free tax tips? Follow the UACPA’s new social media campaign “Talk to Your CPA” on Facebook, Instagram and TikTok.
- Do you need a CPA in your corner? Visit UACPA.org to find a licensed CPA in Utah.
About the UACPA: The Utah Association of Certified Public Accountants represents CPAs statewide, providing education, advocacy and resources to strengthen financial literacy and tax compliance.
