News – Updates – Events –
News – Updates – Events –
Tax Updates 2025
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IRS provides tax inflation adjustments for tax year 2025
See how this will impact you here.
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The passage of the Tax Cuts and Jobs Act (TCJA) in 2017 significantly changed the rules for bonus depreciation.
The 100% write-off of eligible property expired December 31, 2022. Unless the law changes, the bonus percentage will decrease by 20 points each year for property placed in service after December 31, 2022, and before January 1, 2027. The phase-out schedule is as follows:
2022: 100%
2023: 80%
2024: 60%
2025: 40%
2026: 20%
2027: 0%
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To protect against identity theft, IRS adds additional protections to Centralized Authorization File, Transcript Delivery System; changes designed to protect sensitive tax pro, taxpayer information
Ensure you are sending confidential information through the appropriate channels.
See more on this here.
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2025 Tax Brackets
On a yearly basis, the Internal Revenue Service (IRS) adjusts more than 60 tax provisions for inflation to prevent what is called “bracket creep.” Bracket creep occurs when inflation, rather than real increases in income, pushes people into higher income tax brackets or reduces the value they receive from credits and deductions. See more here.
Business News & Updates
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It will be important to invest in developing internal/external communication skills and processes.
Train team members on communicating effectively but not at the cost of human warmth. As companies lean on the use of AI for less technical customer support, they are finding that there is no replacement for the human touch.
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If you’re having trouble finding qualified candidates for your team, you may benefit from offering training programs.
Some companies are having difficulty sourcing already trained staff. Offer onboarding training and incentivize training for certifications in order to equip those who lack a specific technical background but are a company fit.
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Are you watching your data?
Keep an eye on the data that your software reports on. Identify trends and strategize quarterly to ensure your business doesn’t miss out on sales opportunities.
Workshop Calendar & Events
See all of our upcoming workshops! Join via Zoom link, don’t forget to download the calendar file so you don’t miss it!
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