Don’t Wait Until December: Plan Your 2025 Taxes Now
As we move into the final quarter of 2025, now is the ideal time to take a proactive look at your tax situation. Waiting until December often leaves little room to make meaningful adjustments. A few smart steps today can help with your 2025 tax liability and position you for greater financial success.
Key Opportunities to Consider Before Year-End:
- Maximize Retirement Contributions – Take advantage of 401(k) and IRA contribution limits while there’s still time.
- Check Your Estimated Payments – With the Q3 deadline today, review whether you’re on track to avoid underpayment penalties.
- Business Owners: Depreciation Strategies – Evaluate potential Section 179 and bonus depreciation opportunities for year-end purchases.
- Plan Charitable Giving – Consider contributions now to ensure proper documentation and maximize deductions
- Review Withholding Levels – Ensure your paycheck withholding matches your expected 2025 liability to prevent surprises at tax time.
- Use Flexible Spending Accounts (FSAs) – Make sure you’re on track to use pre-tax dollars in health or dependent care FSAs before year-end deadlines.