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Tax Uncertainty Requires Preparedness: How to Plan for 2025

• Apr 28, 2025 wisecpa

At Wise Business Solutions, we know that tax law changes can create a lot of uncertainty — and stress — if you’re not prepared. With many credits, deductions, and lower tax rates scheduled to expire at the end of 2025, now is the time to get ahead. Working with an experienced accountant in Delaware who understands the importance of wise accounting strategies can help you navigate these changes smoothly.

Here’s who should be thinking about proactive tax planning this year:

1. If Your Income Will Increase in 2025

Planning a career move or a promotion? Congratulations — but be aware that tax brackets may change starting in 2026. Marginal tax rates currently top out at 37%, but those thresholds could shrink. Wise accounting practices, like income shifting or strategic deductions, could save you thousands.

2. If You Previously Itemized Deductions

For taxpayers with high state income taxes, mortgage interest, or real estate taxes, the return to pre-2018 deduction rules could be significant. Planning your deductions and expenses now could help maximize your benefits later.

3. If You Have a Large Estate

The current estate exemption ($13.99 million for individuals, $27.98 million for married couples) is set to drop dramatically in 2026. Early gifting strategies can help you make the most of today’s higher limits. An experienced accountant in Delaware can advise you on the best steps to protect your wealth for future generations.

4. If You Have Investments

Tax efficiency will become even more critical in the next few years. Municipal bonds and retirement plans like 401(k)s and IRAs may look more attractive. You might also want to explore tax-loss harvesting. And if your tax rate is lower in 2025 than it will be in 2026, it could be smart to sell appreciated assets before the higher rates kick in.

5. If You Own a Small Business

If you own a pass-through entity like an LLC or S-Corp, the expiration of the Qualified Business Income (QBI) deduction could affect your bottom line. Now is the time to review your business structure and income strategies with a knowledgeable accountant in Delaware. Incorporating wise accounting techniques now could help protect your business’s profitability in the future.

Partner with Wise Business Solutions for Strategic Tax Planning

Preparing for an uncertain tax environment isn’t something you have to tackle alone. The experts at Wise Business Solutions are ready to help you build a tax strategy that supports your financial goals — no matter what changes 2026 brings.

Schedule a consultation today with a trusted accountant in Delaware who understands the power of wise accounting and proactive planning!