44: Year-End Tax Planning with Charlie Sparks and Tom Pesch

In this episode, host Matt Klein sits down with Olsen Thielen Principals Charlie Sparks and Tom Pesch to discuss year-end tax planning strategies as 2025 winds down. The conversation covers key updates from the recently passed One Big Beautiful Bill Act, including extensions and expansions related to the Tax Cuts and Jobs Act. We cover timely topics such as charitable giving strategies, including qualified charitable distributions, donor-advised funds, and bunching deductions, as well as the expanded state and local tax (SALT) deduction limits. They also explore business-focused opportunities like R&D expensing, Section 179 and bonus depreciation changes, and proactive planning for high-income earners. Wrapping up, they stress the importance of fall as the most valuable time for tax planning, highlighting practical reminders on managing withholding, capital gains, and IRS filing expectations amid staffing shortages.