Our program featured Leroy Sandoval of H&R Block, joined by Catherine Stevens, who walked members through recent tax law updates, deductions, credits, and New Mexico filing tips that could make a real difference for many taxpayers.

And along the way, we picked up quite a few “Did you know?” moments.

Did you know?

If you purchase a brand-new vehicle between January 1, 2025, and December 31, 2028, and its final assembly took place in the United States, you may be able to deduct up to $10,000 of the loan interest against your income.

Did you know?

Several changes affecting cash tips, overtime income, and sole proprietors were also discussed, including options for how small business owners may handle depreciation and deduct business expenses.

Did you know?

The standard deduction amounts discussed were approximately:

• $15,750 for single filers

• $31,500 for married filing jointly

• About $21,000 for head of household

There was also discussion of an additional standard deduction for taxpayers age 65 and older, along with how income above those thresholds falls into marginal tax brackets.

Did you know?

New Mexico residents may qualify for a Low Income Rebate, and depending on total income, Social Security may not be taxed at the state level.

The presentation also touched on several areas that affect many local families:

• the Child Tax Credit

• education credits such as the American Opportunity Credit and the Lifetime Learning Credit

• how books, computers, and other education expenses may factor into those credits

• why New Mexico sometimes sends verification letters for tax returns

• how medical expenses may still matter when filing

• the tax treatment of rental income

• general tax advice for young adults entering the workforce

Members also asked questions about energy credits for electric vehicles and solar installations, as well as a few unique tax situations.

One of the most helpful reminders of the day was simply that tax rules change frequently, and having a knowledgeable professional walk through them can make a complicated subject feel much more approachable.

A big thank you to Leroy Sandoval for sharing his expertise with the club.

Catherine Stevens also let members know that the local H&R Block office is still in the same location in Raton, now under the corporate umbrella, with updated hours:

Monday–Friday: 11 a.m.–6 p.m.

Saturday: 10 a.m.–4 p.m.

Closed Sunday

Rotary programs like this remind us that sometimes the most valuable presentations are the ones that leave you thinking:

“Wait… I should probably write that down.”