Milestones or life-altering moments have a way of impacting everything, even things you might not expect. A wedding, a divorce, or retirement can reshape your day-to-day life in ways that may feel joyful, difficult, or bittersweet. Along with the emotional impact, there's a practical reality to consider: each and every one of these milestones can change the way you file your taxes. Knowing what to expect and planning ahead helps you avoid costly mistakes and gives you space to focus on the transition itself.

For high-income earners, taxes involve more than filing on time and claiming common deductions. With wages, equity compensation, investment income, and business ownership in the mix, all your financial planning choices come with higher stakes. The passage of OBBBA on July 4, 2025, added another layer, changing deductions and benefits that affect both individuals and businesses. Strategic tax planning allows you to manage these moving parts with confidence and avoid surprises when tax season arrives.

For many people, tax season ends the moment the return is filed. But the smartest approach is to treat that filing as a weather report from last year. A tax projection, on the other hand, is the financial weather forecast for the year ahead. It uses what we know now to predict the conditions to come, giving you time to put on sunscreen or find an umbrella before you get caught in a storm.

Signed into law on July 4, 2025, the One Big Beautiful Bill Act (OBBBA) brings significant tax changes for individuals, families, and small businesses. Whether you earn wages, run a business, or rely on retirement income, these updates could affect how you plan for the year ahead. Here's what you should know now to prepare for the 2025 tax season and beyond.

If this year's tax return was more painful than you expected, you're not alone. Surprises can happen when you're not actively planning. Still, a surprise bill or a smaller refund than you'd hoped for can throw off your entire financial rhythm. That's why right now is the best time to take control of next year's outcome instead of waiting for the tax season to catch you off guard again. Meeting with a CPA in the off-season can help you analyze the previous year, gain an understanding of what happened, and make recommendations as to what to do differently going forward.

Lots of people only think about taxes once a year, typically around the April deadline. But keeping up with your tax situation throughout the year can save you money and help you avoid surprises. You don't have to own a business or have a complex financial life to benefit from it. Anyone who wants to feel more in control should consider a year-round approach. At Myrick CPA, we help our clients plan ahead so tax season doesn't catch them off guard. Here are a few steps you can take now to make filing easier later.

Health Savings Accounts (HSAs) can be a powerful tool for covering medical costs while offering long-term financial benefits. If you already have an HSA or are thinking about opening one, now is a good time to understand how upcoming changes from the IRS will affect your account.

Many people approach tax planning as a once-a-year scramble before the filing deadline, but this short-term thinking can cause you to miss valuable opportunities that a longer view can provide. When you look beyond just this year's tax return, and plan for the long haul, you'll keep more of your money, grow your savings faster, and build something lasting for your family. Think of it as planting financial seeds today that your family can harvest for generations.