13 Oct WHY SCHEDULING A YEAR-END CPA REVIEW IS ESSENTIAL
As the end of 2025 approaches, it’s never been more important to proactively meet with Gates Kirby, your local Fort Collins CPA firm. When you take the time to visit with a Gates Kirby CPA before December 31st, it ensures you take advantage of every possible opportunity to reduce taxes, plan for the future, and stay compliant in a complex landscape.
Key Reasons to Visit Your CPA Firm Now
Maximize Deductions & Credits
Many tax advantages are only available if planned before the year closes. Now is the time to track eligible expenses—including charitable contributions, retirement plan deposits, and business expenditures—to capture every deduction and credit available for 2025.
Proactive Tax Liability Management
By projecting income and expenses and reviewing your current tax position, a CPA can help uncover strategies to lower your liability, avoid bracket creep, and ensure you’re prepared for upcoming changes in tax law. Deferring income or accelerating deductions are just two of many tactics best executed well before December 31.
Plan Retirement & Benefit Contributions
Year-end is the deadline to maximize contributions to IRAs, 401(k)s, and Health Savings Accounts (HSAs). A CPA will help you leverage retirement and profit-sharing plans, ensuring you and your business get the most from tax-advantaged savings.
Business Entity and Strategy Review
Changing circumstances may call for an updated entity type or new benefit programs. Year-end planning is the ideal time to evaluate if your LLC, S Corp, or other business structure still fits your needs, and to optimize employee benefits or profit-sharing plans.
Avoid Surprises and Penalties
Reviewing your tax withholding and estimated payments with your CPA can ensure you aren’t caught off guard by a large tax bill or penalties. Timely adjustments will keep your compliance smooth and stress-free come filing season.
Take Action on New Tax Laws
Significant legislative updates are in effect for 2025, including bonus depreciation, ERC restrictions, and other key changes. CPAs stay up-to-date so you don’t miss important deadlines or opportunities related to these new rules.
Why Wait? Meet With Gates Kirby before the end of the year