June 2025 Newsletter
What does the “One Big, Beautiful Bill” mean for your 2025 Tax Strategy
It’s tax planning season, and that means it’s the perfect time to get ahead before the year slips away. Proactive planning isn’t just for big corporations or high-net-worth individuals; it’s for anyone wanting to keep more of their earnings and make smarter financial decisions. This time of year, we’re looking at ways to lower your taxable income, take advantage of updated deductions or credits, and make strategic moves before December 31. With new tax laws, a little preparation could mean real savings come filing time.
The House Ways and Means Committee just approved a sweeping new tax package, and true to its name, it’s being called the “One Big, Beautiful Bill.”
Here’s a quick look at what’s inside and why it matters:
100% Bonus Depreciation is Back
If passed, businesses will again be able to immediately deduct the full cost of qualified purchases (equipment, machinery, tech) placed in service from 2025 to 2029. That’s cash back in your business fast.
Expanded Pass-Through Deduction
The deduction for qualified business income (QBI) from sole proprietors, partnerships, and S corporations could rise from 20% to 23%, lowering tax bills for millions of small business owners and gig workers.
R&D Expensing Restored
Innovative businesses will love this: The bill proposes bringing back full expensing for domestic R&D costs, including software and product development, which would significantly boost startups and creators.
$30,000 SALT Cap for Earners Under $400K
The bill would triple the current $10K limit on State and Local Tax (SALT) deductions — helping homeowners and professionals in high-tax states recover thousands in lost deductions.
New Deduction for Car Loan Interest
Buy a U.S.-assembled vehicle? With income-based eligibility, you could deduct up to $10,000 in interest on your car loan.
So what should you do now?
Tax planning in this environment requires more than keeping up. It demands strategy. Whether these provisions pass as written or evolve during debate, the most brilliant move is to start planning now.
Book your tax Intake meeting with your RBA Advisors today. Let’s ensure your business is ready to take full advantage of what’s ahead.
FAQ:
1. Is the bill already law?
Not yet. The bill has passed the House Ways and Means Committee but still needs full approval from the House, the Senate, and the President. It’s moving forward, but nothing is final yet.
2. When would the changes take effect if the bill passes?
Most of the proposed tax changes will begin in 2025, though depending on how the final law is written, some could have a retroactive or immediate impact.
3. What happens if the bill gets delayed or changed in Congress?
Like any legislation, this bill could be amended during negotiations. Key provisions may shift, be removed, or be added. That’s why early planning matters. We’ll monitor changes and adjust your strategy as needed.
4. Should I wait to act until the bill is finalized?
Not at all. The best strategy is to plan now. Even if the bill changes, your RBA Advisors can help you stay ready to pivot and capitalize on every opportunity.
Action Items
Mark your calendar: Your next quarterly tax payment is due by 06/16/2025.
Visit your Client Portal's "2025 folder" to access vouchers for making payments to the IRS or your state (if applicable).
If you didn't owe taxes on your last tax return, then a voucher will not be available for 2025.
If your income has changed significantly, please inform us, and we can provide tax projections to help you determine your taxes due.
Last Month In Review
Be sure to check out our May newsletter on charitable contributions! One client successfully saved $40K in taxes by strategically redesigning their charitable giving using the tips provided in this newsletter.
Make a Bigger Impact: How to Turn Charitable Giving Into a Strategic Advantage.
