2025 Tax Tips Newsletter

Dear Clients & Friends,

Fall is in full swing, and the holidays are right around the corner. We hope you are keeping warm as the weather cools down. Enclosed is our tax tips newsletter. In it, you’ll find advice related to preventing identity theft, preparing in the event of an audit, and tax planning strategies for 2025.

We are attending seminars on the new tax law that was passed earlier this year so that we can assist you with the many tax changes taking effect in 2025 and 2026 that may impact your tax situation. As always, planning is one of the important keys to having a successful tax result. Make sure to retain and monitor any gambling winnings, CDs, retirement distributions, large gifts, and digital assets. For example, any gift(s) over $19,000 to one person requires the filing of a gift tax return. In addition to this, non-cash gifts of any size require a gift tax return to disclose tax basis information to the recipient.

When the Delaware portal launched in 2021, you gave us permission to access the portal on your behalf. This authorization automatically expires on 12/31/2025. You need to update our permissions to prevent this. If you use the Delaware taxpayer portal and have added us as an authorized user, then please log in and remove the end date of our permissions. Please make sure to save these changes. If you have any questions or would like more information, then please call our office as soon as possible and we will be happy to assist you.

We are still looking for an accounting 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 also are able to 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!

2025 Tax Tips Newsletter – Starkey & Company

                                                                                                                                          Sincerely,

                                                                                                                                          Starkey & Company, PA