Coastal Consulting Management Group Introduces CCMG Capital Partners
In addition to our core services, we are proud to introduce our partner company, CCMG Capital Partners. As a reputable brokerage firm, they specialize in buying and selling businesses and commercial real estate in the Savannah area. We'll share valuable market insights, industry trends, and expert tips on navigating the dynamic world of mergers, acquisitions, and real estate transactions.
Join the blog for regular posting of engaging articles, practical guides, case studies, and expert interviews. Whether you're a business owner, entrepreneur, or financial enthusiast, our blog is designed to empower you with the knowledge and tools you need to make informed decisions and achieve your financial goals. Let's embark on this journey together and unlock the path to your success.
Make it account: Tax changes call for more deliberate financial planning
Miller Glover, partner with Coastal Consulting Management Group
Special to the Savannah Morning News
The Competitive Edge
A Note from the Partners
Welcome to our client newsletter, The Competitive Edge. With a new approach to accounting and financial management, our goal is to create client interaction, providing you with the latest information relevant to the growth and success of your personal and business finances. For the latest CCMG happenings, we've also included information and announcements pertaining to our firm.
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CCMG Happenings
Tax Notice? No Problem!
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CCMG has a new tax notice specialist and enrolled agent, Kathryn Edgemon. An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Kathryn passed the exam! Individuals who obtain the elite status as an enrolled agent have the highest credential the IRS awards.
Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can represent clients before.
Welcome New Hire, Jay Wetherington
Coastal Consulting Management Group Announces the Hire of Jay Wetherington
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Community Involvement
Each December CCMG volunteers at Second Harvest. Partner Miller Glover serves on the board of this great organization and it is a great way for us to give back to the community.
Articles and Resources
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Important Dates to Remember
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December 31, 2025 - Required minimum distributions have to be taken for individuals age 73 or older by the end of 2025. After taking your first RMD (for 2024) by April 1, 2025 if you turned 73 in 2024, you also need to take your 2025 RMD by the end of the year. This is also the deadline if you are otherwise required to take an RMD for 2025.
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January 15, 2026 - Fourth quarter 2025 estimated tax payment due. This represents the final quarterly estimated tax payment due for 2025. If you choose the option to pay 100% of your previous year’s tax liability, any unpaid taxes will be due when you file your 2025 individual tax return by the April 2026 deadline.
IRS Identity PIN
Please be on the lookout for your 2025 Tax Year Identity PIN in the mail. If you have an Identity PIN with the IRS, CCMG will need this to file your return. A new PIN is issued each year, so it's important to have the latest PIN number on file.
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An Identity Protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number. The IP PIN is known only to you and the IRS. It helps the IRS verify your identity when you file your electronic or paper tax return. Even though you may not have a filing requirement, an IP PIN protects your account.
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If you don't already have an IP PIN, you may get an IP PIN as a proactive step to protect yourself from tax-related identity theft.
If you want to request an IP PIN, please note the following:
-You must pass a rigorous identity verification process.
Spouses and dependents are eligible for an IP PIN if they can pass the identity verification process.
2026 Tax Law Changes for Individuals
Below some significant tax law changes going into effect this year:
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New charitable contribution deduction for nonitemizers for cash contributions up to $1,000 ($2,000 for married couples filing jointly)
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New 0.5% of adjusted gross income floor on charitable deduction for itemizers
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New 35% benefit limit on itemized deductions for taxpayers in the 37% tax bracket
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Reduced income thresholds at which the alternative minimum tax exemption begins to phase out (and a phaseout rate that’s twice as fast as 2025’s)
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New tax-advantaged Trump accounts to benefit children under age 18
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Increase in tax-free 529 plan withdrawal limit for qualified elementary and secondary school expenses to $20,000 (from $10,000 for 2025)
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New requirement that higher-income taxpayers’ catch-up contributions to employer-sponsored retirement plans must be treated as post-tax Roth contributions
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Elimination of certain energy-efficiency credits for homeowners
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Wider income ranges over which the Section 199A qualified business income (QBI) deduction limitations phase in, potentially allowing larger deductions for some pass-through entity owners.
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New minimum QBI deduction of $400 for taxpayers who materially participate in an active trade or business if they have at least $1,000 of QBI from i