Tax Saving Actions Items before Year-End

Cain Watters & Associates wrote an excellent article about tax savings ideas to implement before year end. With so many changes in the tax laws in 2025, all of us need to rethink our "tax minimization" strategies. The article covers these corporate areas:

• Pass-through entity tax deductions

• S-corporation QBI Limits

• S-corporation Health Insurance

• Defined Benefit Plan

• Accelerating Expenses

• Pre-year end equipment purchases

• Research & Development Tax Credits

• Leasehold improvements to Qualified Business property

• Personal reimbursements for business expenses

The article also includes advice for personal tax strategies. As always, discuss any actions you plan to take with a professional tax advisor.