Eliminating the car tax on vehicles valued under $40,000
Exempting tips from state income tax for service workers
Increasing the standard deduction for all taxpayers
Tax Relief Updates: How Virginia's Proposed Budget Could Affect You
Justin Henderson • May 1, 2025
Virginia’s 2025 Tax Relief Proposals: What You Need to Know
Governor Glenn Youngkin and Virginia lawmakers are proposing several tax relief measures as part of the 2025 state budget. Among the highlights:
These changes, if passed, could bring meaningful relief to many Virginia residents - especially working families, young professionals, and small business owners.
At Tax Resolution Accounting, we encourage our clients to keep in mind that a house is built by wisdom and established through understanding (Proverbs 24:3).
Staying informed about tax changes ensures you can maximize the resources God has placed in your hands and plan wisely for the future.
Here’s what you can do now:
Stay updated: Legislation is ongoing. Final decisions may adjust the specifics.
Review your finances: Changes in deductions and exemptions could affect how you budget the rest of the year.
Consult with a professional: We can help you estimate potential savings and adjust your financial strategy accordingly.
Good stewardship starts with good information. If you’d like a personalized consultation on how these updates could impact you, reach out today. We would be honored to walk with you through every season.
As many taxpayers have already noticed, the IRS is facing significant staffing shortages in 2025, causing delays in tax return processing, refunds, and communication. While frustration is understandable, it's important to approach this season with wisdom and perseverance.
Missed the April 15 tax deadline? Learn how to file an IRS extension, avoid penalties, and get peace of mind before the interest adds up.
Tax Day is looming, and the IRS is ready to collect its due. But fear not: we're here to guide you through the labyrinth of tax obligations with expertise and precision.
