TaxPoint Advisors — Built for Business. Backed by Expertise.
TaxPoint Advisors — Built for Business. Backed by Expertise.
2025 tax law updates include a $40K SALT cap, no tax on tips, and immediate R&D expensing. Individuals and small businesses should optimize deductions and consider expert virtual filing with TaxPoint Advisors.
The 2025 tax changes raise the SALT cap to $40K, exempt tips from federal tax, and allow immediate R&D expensing, benefiting high-tax-state residents, hospitality workers, and businesses with strategic planning.
The 2026 SALT cap raises state and local tax deduction limits to $40K, impacting high-tax states. Small businesses should leverage PTE elections, choose entities wisely, time payments, and plan proactively to minimize tax liabilities.