Tax Planning Guide: Year-Round Strategies
On July 4, the legislation commonly known as the One Big Beautiful Bill Act (OBBBA) was signed into law. It makes permanent many provisions of the Tax Cuts and Jobs Act (TCJA) that help reduce tax liability and had been scheduled to expire Dec. 31, 2025, such as lower individual tax rates and higher gift and estate tax exemptions. But it also makes permanent the reduction or elimination of certain breaks that had been scheduled to resume after 2025.
That’s not all: The OBBBA introduces some new tax breaks (though many are subject to income-based phaseouts that will reduce or eliminate the benefit for higher-income taxpayers) and enhances some existing breaks. However, it terminates many tax breaks related to clean energy.
Minimizing taxes can be a critical challenge for taxpayers. To meet this challenge, you need to know how the OBBBA will affect your specific situation. Then you need to closely monitor your income as the year progresses and be aware of all of the tax breaks for which you are, in fact, eligible. Finally, you have to implement strategies that allow you to take maximum advantage of the tax savings opportunities available to you while staying in compliance with tax law. This guide provides an overview of some of the key tax provisions taxpayers need to be aware of. It offers a variety of strategies for minimizing your taxes in the current tax environment. Use it to identify the best ones for your particular situation with your JCCS tax advisor, who also can keep you apprised of any new tax law developments that might affect you.
Read the 2025-2026 Tax Planning Guide and 2025 tax law change overview: https://www.jccscpa.com/wp-content/uploads/2025/10/JCCS-Tax-Planning-Guide.pdf
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