The start of a new year is the perfect opportunity to focus on 2025 tax strategies that align with your financial goals. At Ballentine Capital Advisors, we understand the importance of early preparation in navigating tax season. Following certain tax preparation tips may help reduce your tax burden, simplify compliance, and achieve a more structured financial approach. This article highlights key strategies to help you make informed decisions, work toward your goals, and ease the stress associated with tax season.
Why Early Preparation is Key for 2025
Effective tax planning starts with early preparation. By organizing your financial records and reviewing your income, expenses, and investments at the beginning of the year, you create a solid foundation for success. Early action may allow you to identify tax-saving opportunities such as deductions, credits, or adjustments. For example, if you contribute to tax-advantaged accounts like IRAs or HSAs early in the year, you maximize their potential benefits over time.
Additionally, reviewing changes in the tax code and updating your financial strategy accordingly may help you avoid surprises and remain compliant. Leveraging 2025 tax strategies ensures you’re not only meeting current requirements but also aligning tax planning with your long-term objectives. At Ballentine Capital Advisors, we can help guide you through these early steps so you can stay proactive and informed.
Simplifying Your Tax Prep for Stress-Free Filing
Tax management doesn’t have to be overwhelming. You can shorten the process by staying organized and using tools designed for record-keeping. Begin by creating a checklist of essential documents, such as W-2s, 1099s, and receipts for deductions. Digital tools like secure cloud storage and tax preparation software make it easier to organize and retrieve these documents. Keeping accurate records throughout the year ensures that you won’t overlook potential deductions or credits. Automating your financial tracking with apps can also help you manage recurring expenses and charitable contributions.
Maximize Benefits with Strategic 2025 Tax Planning
Taking advantage of tax benefits requires a thoughtful and informed approach. Strategic planning allows you to utilize available opportunities within the tax code to reduce your taxable income. Tax-loss harvesting, for example, helps offset gains by selling underperforming investments. By reinvesting the proceeds into assets with better performance, you can maintain your financial portfolio while reducing your tax liability.
Another option that may reduce your taxable income is charitable contributions. Donating to qualified organizations not only supports causes you care about, but it also allows you to claim deductions if you meet the requirements. You may also benefit from donor-advised funds, which enable you to make larger contributions in a single year while distributing funds to charities over time.
Maximizing contributions to retirement accounts like 401(k)s or IRAs before the deadline may also help reduce your taxable income. Reviewing the contribution limits for 2025 and taking full advantage of catch-up contributions if you are eligible ensure you’re optimizing your retirement savings while meeting your tax planning goals.
When to Complete Your Tax Returns
For simple tax returns, it’s recommended to complete your filing no sooner than March 15th. This ensures that you have received all necessary forms, such as W-2s and 1099s, and have had adequate time to review them for accuracy. For medium-complexity returns, including those involving itemized deductions or multiple income sources, aim to file no sooner than April 1st to allow for thorough preparation and the inclusion of any missing details. For more complex returns, such as those involving business income, multiple investments, or significant deductions, you may need to consider filing an extension to ensure all documentation is accounted for and to avoid errors.
How Ballentine Capital Advisors Can Help
Navigating the complexities of tax preparation can be easier with expert guidance. At Ballentine Capital Advisors, we work alongside you to develop a personalized plan that aligns with your financial goals. Our team analyzes your unique financial situation, identifies opportunities for tax savings, and helps ensure compliance with current tax laws. Whether you need help implementing 2025 tax strategies or following actionable tax preparation tips, we provide tailored advice and support every step of the way.
Bryan Ballentine, in his book Wealth on Purpose, emphasizes that taxes are often the biggest expense investors face and can significantly erode profits if not managed effectively. He highlights the importance of a financial planner minimizing the impact of taxes through careful planning and understanding of different tax strategies. At Ballentine Capital Advisors, we incorporate this philosophy by reviewing investment portfolios to uncover opportunities for tax-efficient strategies, assisting with charitable giving, and confirming that your retirement contributions align with your long-term goals.
As your financial advisor, we work with you to make meaningful progress toward your financial objectives while taking the first step in your tax preparation journey.
Sources located at the bottom of the article
Golf Tip of the Week
15 ways to be a faster golfer
Editor’s Note—This article first appeared in October 2021, but its relevance continues today as pace-of-play issues have become the dominant storyline on the PGA Tour to start the 2025 season. On Saturday, during the final round of the broadcast from the Farmers Insurance Open, CBS on-course reporter Dottie Pepper finally let players have it for the poor pace of play that’s been seen the past few weeks. In the spirit of trying to find ways to get people moving, we republished this piece, directed at recreational golfers to help make sure that pace of play at your local course isn’t the problem it has become in pro golf.
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I hate slow play. Ever since I was a caddie picking up the range at the Country Club of New Canaan in Connecticut, I learned to play fast—because playing fast meant getting more holes in after the range was picked. Play fast, and you’ll make fast friends on the course.
To be clear, a quick pace does not mean you should rush your shots or run to your ball. We all enjoy golf for its social elements, plus giving each shot an appropriate amount of attention is crucial to playing well. But over four decades of playing the game, both walking and in carts, I’ve observed and developed some best practices to keep the game moving faster, making the four-hour round an easy mark to break with regularity. Aside from the obvious (hitting when it’s your turn and grabbing a handful of clubs when it’s cart-path only), we’ll all be faster players if we abide by the below.
Leave the driver headcover in the car
Taking the headcover on and off on every tee box is a time suck. You’re not really protecting anything—take it from the equipment editor of Golf Digest. The driver sits well above your irons, and your fairways and hybrids have covers, so you’re good. I’ve gone without a driver headcover forever and my driver is never dinged and certainly never busted. Put it back on before you shove the clubs in the trunk—that’s it.
Next person to tee off? You better be ready
If you have the honor, don’t screw around. And if you’re not first, having your club and ball/tee ready to go puts you several seconds in front of the loser that’s fumbling around for a tee when it’s their turn to hit. As soon as the ball is in the air, make your move to where you are going to tee off from, obviously having taken the opportunity to decide in advance what side is best to hit from.
Limit the practice swings
“Gee, wish my regular swing was like my practice swing,” is a common refrain from weekend hackers. Well, then don’t take a practice swing. If you can’t change your routine, limit yourself to one. Any more than that is not only not helpful to pace of play, it’s highly annoying.
If you’re walking, place the bag on your shoulder before the last player hits; if riding, be at the cart
How often do you see players milling about the tee box while the last player hits? What are you doing? If you’re hoofing, have the bag saddled up. If you’re riding, be at the cart. You can just as easily say, “good shot,” from there as you can from close range.
Watch other players’ tee shots
While you have the bag on your shoulder or are standing by the cart, make sure to keep an eye on your playing companions’ tee shots. Lord knows many don’t watch their own. Not many things slow down play more than the proverbial, “Hey, anyone see where that went?”
Hit a provisional
If there is any likelihood your ball is lost or out of bounds, for goodness sake’s, reload. It takes but a few seconds, and if your ball is lost, it saves a ton of time when you have to do the walk of shame. Plus, I’ve noticed over the years that players are more willing to give up the search if they have another ball in play rather than staring at an X on the card.
While it’s someone else’s turn, figure out your yardage and be ready to play
Part of being ready is knowing the number to the pin. That means sizing up the shot, getting the yardage and being ready to play. I can’t tell you how many times I’ve hit and then watched as my playing companion hits the trees behind the green three or four times before locking in on the flagstick. Get this task out of the way. Pro move: Feel free to tell nearby players what you got. It will save them the time of shooting it themselves.
Yes, there’s an efficient way to clean your clubs
We’re all for having clean clubs, but there’s a time-efficient way to do it. If you’re in a cart, pull up to your partner’s ball, and wipe off your club while they’re prepping to hit. If walking, hold the club and wipe it while you’re walking. It’s pretty simple—but we’d bet you could pick up the pace in this category.
On par 3s on a course you play all the time, skip the rangefinder
“Uh, I got 178 pin.” No kidding, genius. If you play a course enough, you can figure out whether it’s a 5- or 6-iron. And if you’re going to tell me the pin placement matters, get lost. You’re Bill Hogan, not Ben Hogan and you don’t dial in yardages like that. Unless you’re hitting to a green like the ninth at Yale Golf Club, which has a green stretching about 100 feet front to back, just eyeball it and pull a club.
Place your bag in a spot near the walk to the next tee
It absolutely is maddening to watch someone hit their ball on the front of the green, place their bag short of the green and then putt, watch everyone else putt and then walk all the back to retrieve their bag. Have some awareness. After your first putt, mark your ball (or finish out) and go get your bag and bring it to where you are headed next. And yes, you can do this without bothering the other players in the group.
On the greens, line up your putt while others are putting
Stop wasting time while others are on the green. From the moment you mark your ball you should start to calculate the line and speed. You even have time to look from the other side (if you must). Then, once that’s accomplished, when you’re on deck, start putting your ball down and lifting your mark once the other person’s ball is on its way. Anyone that does anything else deserves a lifetime of three-jacking.
Do not mark a two-footer
Ever. And major demerits if you not only do this, but align the line to the hole just so when replacing the ball. Unless there is major cash or a club championship on the line just sweep it in. You’ll probably make more of them.
Stop writing down scores after you exit the green
Be courteous and think of others. Get to the next tee and do it either before or after you hit. Sitting in your cart beside the green trying to figure out if you made 6 or 7 is an amateur move.
Move away from the 18th green
We’ve all been waiting in the 18th fairway, furious that the group ahead is busy shaking hands, putting all their belongings away, tallying scores or whatever they’re wasting time with. Again, please be courteous and pull away from the green to allow play to continue.
Tips for playing with a caddie
We love taking caddies any chance we can. When you do, resist the urge to have them coach you through every shot and read every putt. If you have a looper who’s being overly coachy from the start, tell them, ‘Hey, I don’t take this too seriously … you can give the rest of the group the pointers.’ A few ways to speed up play when your caddie’s double-bagging: When you miss your approach shot, grab a wedge or two and take it with you—rather than waiting for them to meet you at your ball. If your other competitor is struggling, let your caddie stay with them and grab a handful of clubs. It will make the experience better for you—and the caddie.
Golf Tip adapted from golfdigest.comi
Recipe of the Week
30-Minute Turkey Chili
Ingredients
3 tablespoons extra-virgin olive oil
1 medium yellow onion, chopped
5 cloves garlic, chopped
1 tablespoon kosher salt
2 teaspoons chili powder
1 teaspoon dried oregano
1 tablespoon tomato paste
1 chipotle chile en adobo, coarsely chopped, with 1 tablespoon sauce
1 pound ground turkey or 12 ounces soy crumbles
One 12-ounce Mexican lager-style beer
One 14 1/2-ounce can whole peeled tomatoes, with their juice
One 15 1/2-ounce can kidney beans, rinsed and drained
Optional garnishes: Sliced scallions, cilantro sprigs, avocado, sour cream, grated Monterey jack cheese, and/or tortilla chips
Directions
- Heat the olive oil in a large, heavy skillet over medium-high heat. Add the onion, garlic, salt, chili powder, and oregano and cook, stirring, until fragrant, about 3 minutes. Stir in the tomato paste and the chipotle chile and sauce; cook 1 minute more. Add the turkey, breaking it up with a wooden spoon, and cook until the meat loses its raw color, about 3 minutes. Add the beer and simmer until reduced by about half, about 8 minutes. Add the tomatoes–crushing them through your fingers into the skillet–along with their juices and the beans; bring to a boil. Cook, uncovered, stirring occasionally, until thick, about 10 minutes.
- Ladle the chili into bowls and serve with the garnishes of your choice.
Cook’s Note
A skillet’s larger surface area reduces sauces faster than simmering in a saucepan.
Recipe Tip adapted from foodnetwork.comii
Travel Tip of the Week
11 Tips For Visiting Mount Rushmore National Memorial
Mount Rushmore is one of the most famous landmarks in the United States, and it’s well worth a quick visit if you’re traveling through the Black Hills of South Dakota.
This national memorial features the colossal faces of four U.S. presidents carved into the rock. Aside from being visually impressive, it also has some neat history behind it.
Here are 11 tips for your first visit to Mount Rushmore!
1. Morning Is A Great Time To Visit
The best time to visit Mount Rushmore is in the morning. It’s less crowded, less hot (in the summer), and the lighting is great for photos.
This is the ideal time to take pictures of the monument. In the middle of the day, the lighting is more flat, and at sunset, the faces are covered in shadow.
We got there at 8 AM and this was perfect. We had plenty of time to wander the grounds almost alone, and take pictures without people in them. By 10 AM, the monument was already getting pretty crowded.
2. The Entrance Fee Is A Bit Confusing
Even though Mount Rushmore is administered by the U.S. National Park Service, the way it works is slightly different from the rest of the national parks and monuments.
There’s not an entrance fee at Mount Rushmore, but there is a parking fee. This fee is not covered by the annual or lifetime U.S. park passes, which seems a bit unusual.
You can check the current parking fee on the NPS website. It’s well worth the cost, and you only need one ticket per vehicle. You can pay for it with cash or credit card at the gate.
3. There’s A Night Lighting Ceremony
If you want to see a unique view of Mount Rushmore, the faces are lit up after dark every night of the year.
During the summer months, there’s also a lighting ceremony that includes a ranger talk about the presidents and the history of the United States.
You can check the seasonal hours for this on the NPS website.
Note: Your parking fee at Mount Rushmore is valid for one year from the date you buy it, so remember to hold onto it if you plan to come back again later.
4. It’s An Impressive Feat Of Engineering
The sculpture at Mount Rushmore is a huge and impressive feat of engineering.
Each of the heads are 6 stories tall. The noses are about 20 feet tall, and the eyes are about 10 feet wide.
Sculpting the monument in granite took 14 years, from 1927 to 1941. It involved almost 400 workers, and 90% of the mountain was carved using dynamite.
Even though the work was often dangerous, they managed to complete it without any of the men dying in the process.
5. There’s Some Neat History Behind It
Mount Rushmore was sculpted by Gutzon Borglum, who dedicated it to four key presidents of the United States: George Washington, Thomas Jefferson, Abraham Lincoln, and Theodore Roosevelt.
Washington represents the birth and foundation of our country. Jefferson reflects the expansion of the country with the Louisiana Purchase, doubling the country in size.
Lincoln was chosen for the preservation of the country through the Civil War; and Roosevelt, for the development of the country as a world power leading into the 20th century.
Originally, Borglum’s plan was to sculpt the presidents with complete bodies down to the waist, but after he passed away in 1941, the monument was finalized with only their heads.
Smithsonian Magazine has an interesting article about the making of Mount Rushmore if you want to read it before you go.
6. It’s Pretty Easy To Get There
Mount Rushmore is a 30 minute drive from Rapid City, South Dakota, which has plenty of hotel options and a regional airport.
There’s lots of parking space at the monument since most people choose to drive to it.
There isn’t any public transportation to Mt Rushmore, but some companies offer guided tours if you want a live tour guide to handle the transportation, navigation, and itinerary for you.
7. It Doesn’t Take Long To Visit
If you’re in a hurry, it really doesn’t take much time to visit Mount Rushmore. You can do it in as little as 30 minutes.
Start your visit by walking through the Avenue of the Flags, which has 56 flags representing the 50 states, the District of Columbia, three territories (Guam, American Samoa, and the Virgin Islands), and two commonwealths (Puerto Rico and the Northern Mariana Islands).
Next, see the iconic view of the presidents’ faces from the main terrace, take some pictures, and get back on your way. Even a quick visit like this is much better than nothing!
If you have 1 or 2 hours, do all of the above and then walk the Presidential Trail, and top off your visit by spending some time at the Visitor Center to learn about the making of the monument.
8. Ranger Programs Are Available
There are ranger programs at the memorial throughout the day, and you don’t need a reservation to join them.
These include ranger talks that explain some history and information about the monument, a Lakota hoop dance performance on the main terrace, and other activities.
You can check the scheduling for these events on the NPS website.
9. There’s A Hiking Trail
Yes, that’s right. There’s a short hike you can do at Mount Rushmore called the Presidential Trail, and it gives you a closer view of the monument from below.
This trail is a 1/2 mile loop that starts and ends at the main viewing terrace, and it can be done in 20 to 40 minutes.
Walking clockwise, the first 0.2 miles is flat and handicap accessible. The last 0.4 miles has 422 stairs, so it’s a bit harder, but it’s not as bad as it sounds.
This trail includes two unique viewpoints that are usually free from crowds.
One of these is the Borglum View Terrace, where Gutzon Borglum stood when planning the carving of Mount Rushmore National Memorial.
The other is the Historic View Terrace, which was one of the original viewing areas for Mount Rushmore.
Another place you’ll visit on this short hike is the Sculptor’s Studio, which is a nice little museum where you can learn some interesting details about the monument and how it was made.
10. There’s A Museum & Gift Shop
The visitor center at Mount Rushmore has a small museum where you can learn about the making of the monument.
There’s an educational video that runs on rotation, and a room full of other exhibits that are interesting to look at.
Afterwards, there’s a nice gift shop near the entrance where you can buy Rushmore-themed shirts, hats, coffee mugs, magnets, and other souvenirs.
11. There’s More To Do In The Area
Aside from Mount Rushmore, there are lots of other great things to do in the Black Hills area of South Dakota.
Here are some ideas:
- Custer State Park. A great place to go hiking in the Black Hills, or enjoy a scenic drive on the Needles Highway. You can see wild bison and other animals.
- Wind Cave National Park. One of the longest cave systems in the world, and it’s also one of America’s oldest national parks.
- Bear Country USA. An animal sanctuary where you can see baby and adult black bears, bison, and other animals.
- Crazy Horse Memorial. This is a monument dedicated to the Lakota chief Crazy Horse. Work was started in 1948, and it’s still in progress, but it’s open to visitors in the meantime.
- Black Hills Institute Of Geological Research. A nice little museum with some amazing dinosaur fossils, including a T-Rex.
- Badlands National Park. This scenic and rugged park has some unique scenery. A good chunk of the park can be seen by driving, but there are also some fun hikes too, like the Notch Trail.
Travel Tip adapted from travelandleisure.com iii
Copyright © 2025. Ballentine Capital Advisors. All rights reserved.
Our mailing address is:
Ballentine Capital Advisors
15 Halton Green Way
Greenville, SC 29607
Sources:
- IRS: Tax Planning for Individuals
- TurboTax: Tips for Tax Season Preparation
- Investopedia: Tax-Loss Harvesting Strategies
- Energy Star: Federal Tax Credits for Energy Efficiency
- Ballentine, B. (2023) Wealth on Purpose: Your Path to Grow, Protect, and Keep Real Wealth
Disclosure:
Ballentine Capital Advisors is a registered investment adviser. The advisory services of Ballentine Capital Advisors are not made available in any jurisdiction in which Ballentine Capital Advisors is not registered or is otherwise exempt from registration.
Please review Ballentine Capital Advisors Disclosure Brochure for a complete explanation of fees. Investing involves risks. Investments are not guaranteed and may lose value.
This material is prepared by Ballentine Capital Advisors for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation or any particular security, strategy, or investment product.
No representation is being made that any account will or is likely to achieve future profits or losses similar to those shown. You should not assume that investment decisions we make in the future will be profitable or equal the investment performance of the past. Past performance does not indicate future results.
Advisory services through Ballentine Capital Advisors, Inc.
ihttps://www.golfdigest.com/story/play-faster-golf
iihttps://www.foodnetwork.com/recipes/food-network-kitchen/30-minute-turkey-chili-recipe-2009060