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Tax UpdateThe One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. There are many changes to the tax law that are effective for the current 2025 tax year as well as changes that have effective dates for future tax years.
Key Tax Planning Topics to ConsiderThe U.S. tax code is constantly changing. What saved you money last year might cost you this year. Here are several bits of tax wisdom that can help you lower your bill to the IRS.
Property Taxes: What Every Homeowner Should KnowHere's a look at what goes into determining your property tax bill and a few ideas you might consider to help reduce it.
A Time For GivingYear-end is a time for giving, not only to family and friends but also to charity. If you're among our readers who are passionate about philanthropy, year-end giving can offer the satisfaction of making a difference as well as significant financial advantages.
Financial Tips That Sound Like Common SenseHere's a closer look at a few common financial tips and whether the hype of these tips holds up in practice.
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OCTOBER 2025 Q & AQ: What is tax-loss harvesting, and how is it used as a strategy by investors? A: Tax-loss harvesting is a strategy used by investors to reduce their taxable income by selling investments that have declined in value. By realizing losses, investors can offset capital gains from other investments, lowering their overall tax bill. The losses can also be used to offset up to $3,000 of ordinary income annually, with any remaining losses carried forward to future years. This technique helps investors optimize after-tax returns, especially in volatile markets, by strategically managing their investment portfolios to minimize tax liabilities while maintaining their investment goals.
Year-End For IndividualsAs the year draws to a close, taxpayers should review their finances to optimize tax efficiency. One key strategy is maximizing retirement contributions, such as contributing to an IRA or 401(k), which can lower taxable income. Charitable donations also offer tax deductions; making donations before year-end can reduce your tax liability. Reviewing capital gains and losses allows taxpayers to offset gains with losses, minimizing taxes on investments. Consider bunching deductible expenses, like medical costs or property taxes, to surpass the standard deduction threshold. Tax-loss harvesting involves selling underperforming assets to realize losses, offsetting gains elsewhere. Consult with your tax professional to ensure these strategies align with your individual circumstances before year-end for potential tax savings. Making Informed Benefits SelectionsOpen enrollment is a crucial time for employees to review and update their benefits for the upcoming year. To make the most of this period, it's important to consider several key factors. WHAT ARE YOUR NEEDS? WHAT ARE YOUR LOVED ONES NEEDS? BE INFORMED
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