Bulletin Board Magazine [Volume 2 - 2025]

Long term strategies for benefits arising from the use of small business stock sales, excess business losses and now the permanent estate tax exclusion of $15 million for single filers ($30 million joint) are all areas for future consideration and consumption. The bill also addresses a number of significant international tax trade provisions. It also requires aggressive promoters of the employee retention credit program to continue compliance in the government’s review of questionable applications and benefit fundings. Finally, one very pragmatic reporting change in our business operations will be the higher threshold for 1099 reporting which increases from $600 to $2,000 in 2025. This reporting threshold will also be indexed for inflation in calendar years after 2026. Accountants and other office staff rejoice as the reduction of eligible vendors reduces the need to hunt for taxpayer identification numbers.

Woolston, Jensen, & McNamara, LLC is one of the leading accounting and consulting firms in the mid-Atlantic region, but also serves clients throughout the United States. The growing accounting and consulting firm continues to provide quality, personalized financial guidance to individuals and businesses. Its expertise includes tax management and accounting services encompassing individual, business, and estate and trust planning and compliance, strategic business planning, exit strategies for small businesses and investment wealth management, through an affiliate company Salvus Wealth Management, LLC.

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