Don’t Overpay the IRS in 2025: Strategic Tax Moves You Can Make Right Now

Tax season doesn’t have to mean stress, penalties, or giving away your hard-earned money. In a special episode of the Strategic Wealth Strategies Podcast, I joined host Neil “The Media Giant” Haley to reveal how smart planning can legally lower your tax bill — whether you’re an individual, business owner, or self-employed.

Here’s a breakdown of the biggest opportunities and pitfalls to look out for as you file your 2024 taxes and prepare for 2025.

📊 Understanding the 2025 Tax Brackets (Married Couples)

10%: Income below $23,200
12%: $23,201 - $94,300
22%: $94,301 - $201,050
24%: $201,051 - $383,900
32%: $383,901 - $487,450
35%: $487,451 - $731,200
37%: Over $731,200

✅ Pro Tip: The jump from 24% to 32% is massive — it’s critical to stay below that threshold when doing Roth conversions or large withdrawals.

🧾 Maximize Standard Deductions (2025)

Married Couples: $29,200
Single Filers: $14,600
Seniors 65+: Additional $1,550 (Married) | $1,950 (Single)

👉 If your itemized deductions don’t exceed the standard, take the higher one — and simplify your tax return.

⚠️ Self-Employed? Here’s Your Tax Wake-Up Call

Self-employed individuals pay double the Social Security tax:

6.2% (employee) + 6.2% (employer) = 12.4%
Plus 2.9% Medicare tax

That's 15.3% right off the top — before income tax!

What You Can Do:

✅ Write off business expenses
✅ Use Health Savings Accounts (HSA) to deduct medical costs
✅ Invest in cash-value life insurance for future tax-free income

“Self-employed? You NEED a tax strategy — otherwise, you're giving away thousands to the IRS!” – Alan Porter

🏦 2025 Contribution Limits You Should Know

401(k):

Employee Limit: $23,000
Catch-Up (Age 50+): $7,500

IRA:

Contribution Limit: $7,000
Catch-Up (Age 50+): $1,000

⚠️ BIG WARNING: Your 401(k) isn’t a tax deduction — it’s a tax compounding trap.You’ll be taxed later at whatever rate the government decides.And with average fees of 2.99%, you could lose HALF your retirement!

💡 Smarter Alternatives for Retirement & Tax-Free Income

✅ Roth IRA Conversions: Pay taxes now while rates are lower
✅ Cash Value Life Insurance: Tax-free growth + tax-free withdrawals
✅ Health Savings Accounts (HSA): Triple tax advantage — deduct now, grow tax-free, spend tax-free

“Why pay Uncle Sam 40% when you can keep it in YOUR pocket?” – Alan Porter

🏥 Lower Medicare Costs in Retirement

Many retirees don’t realize this:Medicare Part B premiums are income-based.

Tax Strategy Tip:

Withdraw from tax-free accounts like Roth IRAs and HSAs to keep your income low and Medicare premiums down.

“Retirees can SAVE THOUSANDS in Medicare costs — if they plan ahead.” – Alan Porter

👨‍👩‍👧‍👦 Don’t Miss These Tax Credits

✅ $2,000 per child under 17
✅ Phase-out begins at $200K (Single), $400K (Married)

And keep an eye out — tax laws may revert to 2017 levels, raising future rates. Planning now is more important than ever.

🔍 Need Help? Don’t Wait for April 15th

I’ve helped clients recover over $1.83 MILLION in overpaid taxes. Whether you're an individual, retiree, business owner, or self-employed — we can create a strategy that fits you.

📍 Let’s start now. Don’t leave money on the table.

🌐 Website: www.StrategicWealthStrategies.com📧 Email: StrategicWealth0@gmail.com📞 Call: 910-551-1046

“Most people overpay in taxes because they don’t plan ahead — don’t let that be you!” – Alan Porter