Tax Planning: A Year-Round Partnership

At Hobbs Group Advisors, we believe the best tax strategies aren’t built in a rush at year-end — they’re developed steadily, together. And while tax planning is a year-round process, the final quarter of the year is a critical window to make adjustments that can lower your 2025 tax bill and set you up for long-term success.

Here are a few areas to consider as we approach year-end:

For Individuals

• Timing matters. If you expect to be in a lower tax bracket in the future, it may make sense to defer some income. On the other hand, if your rate could rise, accelerating income now might reduce your overall burden. We’ll help you evaluate which approach makes sense.
• Capital gains and losses. Now is the time to review your portfolio. If you’ve realized gains this year, you may be able to sell losing positions to offset them. Up to $3,000 of net capital losses can reduce your taxable income this year, and any unused losses can be carried forward.
• Charitable giving. Donating appreciated stock instead of cash before December 31 can help you maximize your deduction while avoiding capital gains tax.
• Residency transitions. If you’ve moved into or out of South Carolina this year, or earned income across multiple states, your residency status will affect your return. South Carolina allows credits for taxes paid to other states, but planning helps avoid surprises.
• Estate and legacy planning. South Carolina does not impose its own inheritance or estate tax, which can be an advantage as you plan to transfer wealth to the next generation.

Let’s Plan Together

Every family has a unique mix of federal and state considerations. At Hobbs Group Advisors, we take a proactive, year-round approach — and fall is the perfect time to take advantage of year-end opportunities that could impact your 2025 taxes.