2025
Year-end tax planning
Year-end tax planning
As 2025 draws to a close, taxpayers face the need to optimize their tax strategy before the calendar turns. Sweeping changes to the tax landscape introduced by the One Big Beautiful Bill Act (OBBBA) (P.L. 119-21) and other recent legislation have reshaped the tax landscape, creating both challenges and opportunities for individuals and businesses. From expanded deductions and new thresholds to evolving international tax rules and state-level conformity issues, proactive planning is essential to minimize liabilities and maximize benefits.
This year’s environment calls for strategic action, whether it’s leveraging enhanced state and local tax (SALT) deductions, exploring expanded section 1202 benefits, navigating the revamped Global Intangible Low-Taxed Income (GILTI) regime, accelerating charitable contributions or preparing for upcoming changes to retirement plan rules under SECURE 2.0.
The experienced tax professionals at Baker Tilly provide comprehensive insights for the 2025 tax planning season, drawing on developments from federal, state and international tax provisions to help you navigate these complexities with confidence. Explore practical steps you can take now to reduce your 2025 tax bill and position yourself for success in 2026 and beyond.
2025 Year-end tax planning insights
IRS releases guidance on new foreign income tax allocation under OBBBA
The IRS and Treasury recently issued Notice 2025-72, delivering critical guidance on the One Big Beautiful Bill Act’s (OBBBA) repeal of the one-month deferral election under section 898.
Domestic research expenses: 2025 Year-end tax planning considerations
The OBBBA provisions for domestic research expenses favorably and permanently permit taxpayers to immediately deduct domestic research costs. This article details these changes and more year-end considerations.
2025 Employee benefits and executive compensation update
Several provisions from OBBBA are also set to go into effect at the beginning of 2026. This article outlines important considerations for both year-end tax planning and the year ahead.
2025 Year-end planning for estate and gift tax
As 2025 draws to a close, we reflect on this year’s key developments that will affect gift and estate tax, including the OBBBA, recent court decisions and finalized regulations.
2025 Year-end planning considerations for individual taxpayers
This article outlines the profound impact the OBBBA “non-changes” have on individual taxpayers as well as the new tax provisions OBBBA introduced.
2025 Year-end tax considerations for international tax planning
This article highlights key changes made by the Act that are significant to U.S. international tax law as well as previews other relevant guidance updates made via notice or regulations that should be considered during 2025 year-end tax planning.
2025 Year-end planning considerations for key business-related tax provisions in the OBBBA
The following article is an overview of key business-related provisions included in the OBBBA and considerations for year-end tax planning.
2025 Year-end state and local tax considerations
This article outlines a few key changes and considerations resulting from the 2025 state legislative sessions.
2025 Year-end planning opportunity: Evaluating section 1202 benefits after OBBBA
Year-end is an ideal time to assess eligibility and confirm that corporate capitalization, share issuance and recordkeeping align with the new $75 million gross-asset ceiling and other QSBS requirements.
Opportunity Zones: 2025 Year-end planning considerations
The OBBBA made the Opportunity Zone (OZ) program permanent. The following should be considered during 2025 year-end planning.
Tax Trends: 2025 Year-end tax planning series
Our complimentary, five-part webinar series features specialists from our tax practice who provide an in-depth look at the current state of tax policy and discuss legislative and regulatory developments in the marketplace. These sessions will help viewers stay up to date on the latest issues they should be aware of for the 2025 tax year, as well as provide insights into clients’ most frequently asked questions.
Baker Tilly specialists address noteworthy topics including the massive impact of the One Big Beautiful Bill Act (OBBBA) on all aspects of tax policy for businesses and individuals, state and local tax legislation and credit and incentives opportunities.
Pass-through entities update 2025
In the pass-through entities update session, Baker Tilly tax professionals explore key federal and international business tax planning considerations for pass-through entities.
Individual tax update 2025
In this session, Baker Tilly tax professionals discuss updated considerations for individual taxpayers following the enactment of the One Big Beautiful Bill Act (OBBBA).
State and local tax update 2025
In this session, Baker Tilly tax specialists provide an overview of state and local tax provisions shaped by sweeping provisions in the OBBBA.
