As we head into the holiday season, now is the time to take control of your 2025 tax strategy. With new tax laws under the One Big Beautiful Bill Act (OBBBA) and the temporary SALT deduction increase, California taxpayers have powerful opportunities to reduce taxable income and improve financial outcomes. At TaxPlus, we help individuals […]
Tag: OBBBA
Final Reminder for 2024 Tax Filing deadline of 10/15/25
The pumpkin patch is open, Halloween and Dia de Los Muertos are coming up quickly! We will focus on a tax planning opportunity created by the higher SALT caps. This time we remind you of the benefit of having a side business, including but not limited to an S-Corp. This strategy potentially allows you to […]
One Big Beautiful Bill Act (OBBBA): What Taxpayers Need to Know for 2025
The recently signed One Big Beautiful Bill Act (OBBBA) introduces sweeping tax changes that will impact both individuals and businesses beginning in 2025. From automatic filing extensions for Los Angeles County residents to a temporary increase in State and Local Tax (SALT) deductions, taxpayers need to understand how these updates may affect their 2024 and […]
What the One Big Beautiful Bill Act (OBBBA) Means for 2025 Taxpayers – Especially in Los Angeles County
With the recent passage of the One Big Beautiful Bill Act (OBBBA), significant tax changes are now in motion. While many of these provisions phase in over several years, there are immediate implications for 2024 and 2025 tax filing that individuals, businesses, and particularly Los Angeles County residents need to know. Here’s a breakdown of […]
