Elite Financial Service

Quarterly Estimated Tax Payments - Reminder

If you are making quarterly estimated tax payments to the IRS, the due date for the June 1st - August 31st, 2025 quarter of year is today, September 15th, 2025.

For payments made using IRS Direct Pay, you can make payments until 11:45PM EST, and for payments using a credit or debit card, payments can be made up to midnight on the due date.

OBBBA Reinstates 100% Bonus Depreciation for Many Capital Expenses

The recently enacted One Big Beautiful Bill Act (OBBBA) reinstated 100% bonus depreciation for many capital expenses, a policy that had previously expired at the end of 2022. Under this policy, businesses may deduct the entire cost of qualifying capital assets during the year that the assets are placed in service, instead of dividing that cost between multiple years.

Certain types of capital business property and investments will not qualify for 100% bonus depreciation. The IRS will provide further guidance on eligible expenses later this fall. Note also that 100% bonus depreciation will only apply to assets acquired and placed in service on or after January 20, 2025.

A business tax professional can help you determine which of your capital expenses qualify for 100% bonus depreciation, and help you devise the most advantageous depreciation strategies overall.

Multiple Home Energy Credits to Expire at the End of 2025 – Did You Know?

Currently, the IRS offers homeowners a variety of tax credits related to energy efficiency and clean energy production and use. For example, the Energy Efficient Home Improvement Credit reimburses qualifying homeowners for a portion of the cost of certain high-efficiency heating and cooling (HVAC) systems, as well as the cost of insulation, doors and windows that reduce energy use. Meanwhile, home improvements that generate or use alternative energy, such as installing solar panels or a solar-powered water heater, may qualify for the Residential Clean Energy Credit.

Under the recently enacted One Big Beautiful Bill Act (OBBBA), these two credits will expire on December 31, 2025. Therefore, many energy-related home improvements made in 2026 or later will not qualify for federal tax benefits. A tax professional can help you determine whether any of your planned home improvements qualify for home energy credits, so you can prioritize eligible projects for the remainder of 2025.

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