2025 Mid Year Newsletter

Dear Clients & Friends,

Summer is here again with its high humidity, hot temperatures, and family vacations. We know you will be looking for reading material while you are relaxing, so we have enclosed our mid-year newsletter. In it, you’ll find advice related to tax planning for 2025.

There are many tax changes taking effect in 2025 and 2026 that may change your current situation. As always, planning is one of the important keys to having a successful tax result.

The President recently signed what is commonly known as “The One Big Beautiful Bill” (OBBB), and in addition to extending the tax provisions first enacted during the President’s first term, it includes many new provisions relating to the taxation of tips, overtime pay, and social security that also take effect in 2025. If you are planning on getting a tax credit for a new electric vehicle or energy improvements to your home you need to act fast. The OBBB eliminates home energy credits on December 31, 2025 and vehicle credits end on September 30, 2025. Guidance is still being issued about all the changes that are included in the OBBB. We will pass along information as it becomes available.

Extended individual tax returns are due on October 15th. If you have not brought in your tax organizer and supporting documents, we recommend that you do so sooner than later. We are still down one staff member and continue to seek the right person to bring on board. If you know someone that has some tax preparation and accounting experience, then please send them our way.

We can also upload tax returns and related information to a secure portal called Intuit Link. This method is far more secure than an email. We encourage you to call or email us if you are interested so that we can invite you to the portal. You may email your favorite staff member or our general email at info@rgscpa.com, and we will set up a link for you to utilize the portal.

Please contact our office if you have questions concerning any information in this newsletter. As always, we appreciate your continued patronage! We look forward to helping you make sense of the new tax bill and figuring out how we can utilize its many provisions to ensure the best possible result.

2025 Mid Year Newsletter – Starkey & Company

                                                                                                                                          Sincerely,

                                                                                                                                          Starkey & Company, PA