Donald Trump's impending presidency has U.S. taxpayers anticipating lower taxes in 2025. For those who do, tax experts say it's possible to set yourself up to benefit with your 2024 filing.

Pushing some income into next year or paying off deductible expenses early can lower your 2024 bill, they say, which could prove beneficial if you predict that you could pay less in taxes in 2025.

"We might see lower tax rates, and so if you think potentially the rates are going to be lower [in 2025], then, of course, you would want to defer your income to the next year when the rates might be less," said Susan McGuire, tax director at Green Growth CPAs.

Trump discussed several tax proposals on the campaign trail. Here's some background on those proposals—and some tactics that could help if you expect lower taxes next year.

Americans Eye a Range of Trump Tax Proposals

Trump during his campaign offered a range of tax proposals. He pledged to make most of the provisions of the 2017 Tax Cuts and Jobs Act (TCJA) permanent. This law nearly doubled the standard deduction, increased the Child Tax Credit, and raised the estate tax exemption.

He also proposed excluding Social Security payments from income taxes. For the 40% of beneficiaries who do pay taxes on their benefits, this cut would primarily help beneficiaries who earn between $63,000 to $200,000, according to the Tax Policy Center. His campaign also proposed adding new tax credits to unpaid family caregivers and expanding the Child Tax Credit to $5,000 per child from $2,000.

The Republican platform said the new administration would eliminate taxes on tips and overtime. The Congressional Research Service estimated cutting taxes on tips would save restaurant and hospitality workers—who make up 3.3% of income tax filers—between $730 and $2,170 in taxes.

If You Think You Will Pay Less in 2025 Taxes, You May Want To Defer Some 2024 Income

Deferring your income means pushing some of what you will make in 2024 into 2025 so that more of your money will be taxed at a rate you expect to be lower.

"You're taking something that would be the salary you normally have to pay [taxes on], and then you defer it for a future tax year," McGuire said.

One way to do this is to maximize your contributions to your traditional retirement account or Health Savings Account. This will lower your Adjusted Gross Income (AGI) for the year, and you will pay taxes on less income.

You can also delay income you receive throughout the year. For example, if you own a rental home, you could ask your tenant to pay their December rent in January. If you are not self-employed, you can ask your company to delay your bonus until next year. If you are self-employed or a freelancer, you could consider delaying invoices before the year ends, said McGuire.

You can also defer your income tax and capital gains tax if you received an incentive stock option from your employer in 2024 and hold onto your options or stock until next year.

Accelerate Deductions To Lower Your 2024 Tax Bill

If there were deductible expenses you were expecting to pay in 2025 but can take on before the year ends, this could cut down your 2024 bill, said McGuire.

"[People] accelerate deductions into the current year so that they can use them," McGuire said. "Same reasoning [as deferring your income]. If you think tax rates are higher now, then you want to take as many deductions as you possibly can."

If you were planning on donating to a charity in 2025, you might want to do it before 2024 ends instead to see that charitable contribution deduction on your 2024 bill. You can also prepay any expenses that you expect to incur in 2025. For example, you can pay your January 2025 mortgage payment or property tax this month.

Another strategy includes making anticipated medical purchases before the year ends if your 2024 medical expenses are close to reaching 7.5% of your Adjusted Gross Income. If you were planning to buy new glasses or to get your teeth cleaned in 2025, doing these before the end of 2024 can help you maximize your medical deductions.