For small business owners, finding ways to save on taxes while planning for the future is essential. One important strategy for business owners to know about is contributing to a retirement plan. Not only does this help secure your financial future, but it also offers significant tax advantages that can benefit your business today.

As we approach the 2025 tax filing year it is important for taxpayers to be aware of upcoming changes.

One change we look for each year is inflation-adjusted tax brackets. The IRS has released information on its new inflation-adjusted tax brackets for 2025.  Inflation-adjusted tax brackets occur as the IRS adjusts various tax provisions in an effort to prevent "bracket creep" (when inflation pushes taxpayers into higher income tax brackets despite their purchasing power not having increased).