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
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
Join us for our complimentary, five-part webinar series featuring specialists from our tax practice who will provide an in-depth look at the current state of tax policy and discuss legislative and regulatory developments in the marketplace. These CPE-eligible sessions will help attendees 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 will 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.
Register for the series
Join us for one, a few or all of the engaging sessions in our year-end series.
Corporate entities update
In this session, Baker Tilly tax professionals will provide a comprehensive overview of key planning opportunities for business expansion and compliance challenges, including changes to interest deduction limitations, ASC 740 updates and more.
Impacts from the One Big Beautiful Bill on the Employee Retention Credit
The One Big Beautiful Bill Act (OBBBA) (P.L. 119-21) made significant changes to the Employee Retention Credit (ERC) for the third and fourth quarters of 2021, as well as creating enhanced penalties for ERC promoters. Consistent with a bill that passed the House of Representatives at the end of 2024, the OBBBA retroactively ends employers' ability to file new ERC claims after Jan. 31, 2024. The IRS published frequently asked questions on IRS.gov in October 2025 stating that the earlier end date only applies to the third and fourth quarters of 2021, and that any ERC amounts paid by the IRS with regard to an ERC claim filed after Jan. 31, 2024, and paid prior to July 4, 2025, would not generally be subject to a clawback. Given that ERC claims for the fourth quarter were limited to startup recovery businesses, the impact of the ERC limitations are generally limited to third quarter 2021 claims filed after Jan. 31, 2024.
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Inside the One Big Beautiful Bill Act: A deep dive into its tax provisions
For a deeper understanding of the current year-end landscape, take a look back at this page as a guide to everything you need to know about the One Big Beautiful Bill Act tax provisions see how we got here.
The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments. Baker Tilly US, LLP does not practice law, nor does it give legal advice, and makes no representations regarding questions of legal interpretation.