Have you made moves to lower your taxes for 2025? The One Big Beautiful Bill Act, which was signed into law on July 4, 2025, creates some tax planning certainty for the next few years. It also expands or enhances some tax planning opportunities. Here are some key changes under the new law and seven tips to help optimize your tax situation for 2025 and beyond.

You may have the chance to “make history” with some financial help from Uncle Sam. If you’re renovating a historic building, you might be able to claim a valuable 20% federal tax credit for the cost of the renovation work. There are several requirements to qualify, including deadlines that must be met. Here are the details.

Hobbies are typically fun and they may be expensive. In some cases, hobbies (including those involving horses) lead to net losses. Before 2018, you could claim itemized deductions for hobby-related expenses up to the amount of income — if your primary motivation was profit, not fun. Now, however, miscellaneous itemized deductions are generally no longer available.

Social media is a bit of a puzzle for businesses. It’s an incredibly powerful tool for reaching customers and prospects. But posting, scrolling and liking can eat up a lot of employees’ time and lead them to say and do things online that reflect poorly on their employer. This article discusses creating a social media policy that protects the company without overly restricting employees.