Samuel Handwerger explains that a restored 2026 charitable deduction will let non-itemizers claim cash gifts, but strict documentation rules remain. Donors must retain records and verify acknowledgment letters, especially for gifts of $250 or more, or risk losing legitimate deductions.

A case at a volunteer tax site highlights a gap in U.S. tax reporting that leads students to underreport taxable scholarship income, according to Samuel Handwerger, as forms and software often fail to prompt required calculations and the IRS lacks matching data.

Sam Handwerger warns that TikTok is spreading 2025 tax scams, from fuel credit claims to fake W-2s and bogus self-employment credits. With AI voice cloning adding risks, the IRS created CASST and issued alerts urging caution over online tax advice.

NIL deals offer student-athletes new income—but also tax obligations. Smith lecturer Samuel Handwerger explains how earnings are taxed, what to watch for, and why planning, record-keeping and resources like TerpTax are key to staying financially and legally safe.

Interns misclassified as independent contractors can face unexpected tax burdens and loss of protections. Samuel Handwerger advises students to clarify work terms, consider negotiating pay, and understand the financial responsibilities tied to independent contractor status.

Samuel Handwerger, CPA and TerpTax faculty advisor, explains how victims of investment scams may qualify for theft loss tax deductions under IRS rules. He outlines key eligibility criteria, recent IRS guidance, and the importance of intent, documentation, and expert advice.

By Samuel Handwerger, CPA, Faculty Advisor for TerpTax

Samuel Handwerger, faculty advisor for TerpTax, explains Form 1099-K—an IRS record for online sales and payments through apps. Understanding taxable income, tracking expenses, and correcting errors can save headaches. Keep good records and report income accurately to avoid issues.

CPA Samuel Handwerger explains the key differences between Traditional and Roth IRAs. Traditional IRAs offer tax-deferred savings, while Roth IRAs provide tax-free withdrawals. Future tax rates and career trajectory matter, making the choice complex. Consistent saving is the most crucial factor.

Education tax credits can significantly lower tax bills, says Smith professor Samuel Handwerger. The American Opportunity and Lifetime Learning credits offer key savings, but eligibility rules matter. Students may claim credits if parents opt out. TerpTax offers free tax prep through April 14.