A Tax Bill for Breaking Even, More 401(k) Room, and Whatever Happened to Linda?

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You win money. You lose it back. You leave with no profit and a story you probably shouldn’t tell your spouse. At least there’s nothing to tax, right? Not necessarily. In 2026, the federal deduction covers only 90% of gambling losses, up to your winnings. Breaking even can still leave you with taxable income.

Now the AICPA wants the IRS to explain how to count those wins and losses. Should a night at the blackjack table count as one session? What records prove the result? And how should it work for betting apps? Accountants want consistent rules across different types of gambling. Figuring out the tax bill shouldn’t require another roll of the dice.

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The IRS is letting workers put $25,500 into their 401(k)s in 2027, up $1,000 from this year. No, that’s not an extra $1,000 from the government. You still have to earn it. But people already hitting the limit get more room to save for retirement. The IRA limit stays at $7,500.

Older workers get more room, too. Those 50 and up can generally contribute $34,000, with a higher limit for ages 60 through 63. For clients planning to max out, it’s time to review payroll contributions for January.

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In 1947, nearly 100,000 American baby girls were named Linda. Imagine yelling “Linda!” at a playground. Half the damn sandbox turns around. The name was already taking off when Buddy Clark released a hit called “Linda.” The girl who inspired it later married Paul McCartney. Even this baby-name story somehow involves a Beatle.

Linda knocked Mary off the top spot after 67 years. Then America lost interest. By 2025, just 294 girls got the name. The Lindas grew up, became moms, then grandmas. Suddenly, a name that once sounded fresh sounded like someone who brings potato salad to Thanksgiving. Send this to a Linda. She deserves to know her name used to be America’s hottest trend.

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