Tax Updates
April 1, 2025 / Tax Related
Tax Filing Deadline approaches. Hopefully, you have completed (or are nearly finished with) your taxes. April 15, 2025 is the last day to submit your taxes unless you have filed an extension. This is also the last day to contribute to your Roth or Traditional IRA, but if you file an extension, you can still contribute to a SEP IRA or Simple IRA (employer-side) for 2024. Please reach out to your advisor as soon as possible if you are still looking to contribute for last year. Please contact your tax preparer for specific tax advice.
Tax changes could be on the horizon. Stay tuned as we learn more about changes to the Tax Cuts and Jobs Act of 2017, which is set to expire December 31, 2025. There have been no official legislative changes to the TCJA yet, but policymakers are currently discussing potential extensions and modifications. Click here to read more from Bloomberg Government.