Happy New Year! In this episode of The Jeff Trapp Podcast, Jeff kicks off 2025 with key tax updates, including filing extensions for disaster-affected areas, the latest on beneficial ownership reporting, and crucial deadlines for the upcoming tax season.

If you’ve been affected by recent disasters in California or North Carolina, be sure to check out the IRS disaster relief updates at irs.gov/newsroom/tax-relief-in-disaster-situations.

Discover smart tax strategies, such as paying your kids tax-free, maximizing board meeting deductions, and taking advantage of the new mileage rates and retirement contribution limits. Jeff also shares insights into the current Trump administration’s tax proposals and why proactive planning now can help you save big in 2025.

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