Revised edition with a corrected link to the Special July Newsletter

July 2025

Newsletter

One Big Beautiful Bill Act

The Trump Administration's One Big Beautiful Bill Act (OBBBA) has people wondering how their tax return is going to be effected going forward. Presently the team is researching, attending seminars, and studying up on the bill and all it's ins and outs. As we move forward in the next few weeks and months, we will be sharing what we have learned and how it will impact you, your family and your business. In the meantime, if you haven't had a chance to read our special newsletter that went out last week, please take some time to do so. It covers some of the key provisions in the bill and the figures associated with the changes. And stay tuned, we will be sharing more information as we get more clarity and guidance.

You can find that special article here: Special July Newsletter

Clean Energy Incentives Update

The recently enacted One Big Beautiful Bill Act (OBBBA) eliminates several clean energy tax incentives that may impact individual taxpayers. If you have been considering purchasing any of these items, you may want to do so to take advantage of the tax savings before these credits are set to expire. If you have questions about what purchases qualify, please contact us.

Key provisions include:

Clean Vehicle Credit

This credit will expire on September 30, 2025.
Eligible taxpayers may claim up to $7,500 for new clean vehicles placed in service during 2025.
Income limits apply:
$150,000 for single filers
$225,000 for heads of household
$300,000 for joint filers
To qualify, the vehicle must be purchased from a dealership and placed in service by September 30, 2025, to be claimed on the 2025 individual tax return.

Residential Clean Energy Credit

This credit will expire on December 31, 2025.
Provides a credit equal to 30% of the cost (including labor and installation) of qualifying clean energy systems:
Solar electric systems
Solar water heating systems
Fuel cell systems
Small wind turbines
Geothermal heat pumps
Battery storage systems
To qualify, the property must be purchased through a participating dealer and installed at a U.S. residence by December 31, 2025.

Energy-Efficient Home Improvement Credit

This credit will expire on December 31, 2025.
Offers up to $1,200 per year for qualifying energy-efficient improvements, including:
Energy-efficient doors, windows, and insulation
Central air conditioners and water heaters
Heat pumps, furnaces, and boilers
To qualify, improvements must be placed in service by December 31, 2025, and made to the taxpayer’s primary residence in the U.S. Rental properties and second homes do not qualify.

REMINDER:

If you dropped off documents in the spring for preparation of your tax return, please stop by the office before September 1, 2025 to retrieve them. Any documents in our office after September 1st will be shredded. Thank you!

Tax Organizer

Summer is in full swing, but we’re already looking ahead to the 2025 tax season. With several tax law changes, it will be especially important for everyone to complete the tax organizer questions that will be sent out in January.

We know that many of you have worked with Carrie for years and may feel she already knows everything about your situation—or that your own system for compiling tax information works just fine. However, the organizer and its questions are designed to streamline our process and maximize efficiency, which helps us get your return back to you as quickly and accurately as possible.

We are updating the organizer this year, including new questions related to the OBBBA. Our goal is to make it as simple and user-friendly as possible. And as SafeSend continues to improve, we’re confident it will make the overall experience even more efficient for you.

Office Hours

Monday-Thursday 9:00am-4:00pm