2025 Year End Newsletter

Dear Clients & Friends,

Happy Holidays! We hope you are enjoying your time with loved ones during this holiday season. Enclosed is our year end newsletter. In it, you’ll find advice to consider before the end of 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 sort your receipts, collect your 2024 tax forms, and coordinate your deductions.

For the tax year 2025, there are several new provisions that may be beneficial to your tax situation; you may be able to deduct up to $25,000 of qualified tips, $12,500 for qualified overtime pay, or qualify for a new over age 65 deduction of $6,000. All of these provisions are subject to income phaseouts so not every taxpayer will be able to qualify.

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. This portal launched in 2021, and our permissions will automatically expire on 12/31/2025. You need to update our permissions to prevent this. Please make sure to save these changes. If you have any questions, 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 Year End Newsletter – Starkey & Company

                                                                                                                                          Sincerely,

                                                                                                                                          Starkey & Company, PA