Trending Now:Trump-Era Tax Cuts Are Expiring — How Changes Will Impact Retirees The third key provision of the TCJA was an increase in the per-person estate and gift tax exemption. The exemption increased from $5.5 million in 2017 to $13.6 million in 2024. This has allowed wealthy Americ...
Many of the Tax Cuts and Jobs Act provisions expire or change at the end of 2025, creating what is being referred to as a “tax cliff.’’ Find out more.
The provision for QBI deductions in the Tax Cuts and Jobs Act is temporary, expiring at the close of 2025. Was there more to this tax act? The TCJA is a complex piece of legislation with hundreds of minor provisions. Did you know you can no longer deduct moving expenses in your itemize...
The spotlight may be on the US 2024 presidential election, but tax executives can’t afford to take their eyes off 2025 and beyond. That’s when federal and global tax policies will come to a head. Key individual provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 expire, and chan...
The 2024 election season is heating up, and the stakes for federal tax policy couldn’t be higher. Among other things, the next Congress and president will be deciding how expiring provisions under theTax Cuts and Jobs Act of 2017(TCJA) will be dealt with, how the U.S. will respond to...
In 2017, President Trump and a Republican Congress passed the Tax Cuts and Jobs Act which is expiring at the end of 2025. On Tuesday, December 12, 2023, David John Marotta appeared onRadio 1070 WINA’s Schilling Showwith Rob Schilling to talk about planning for the end of this act. ...
During his electoral campaign, President-elect Donald Trump pledged to extend many provisions in his signature Tax Cuts & Jobs Act, a 2017 law thatoverhauled the tax codeand handed a financial break to almost every taxpayer. Many of those provisions are set to expire at the end of 2025, ...
Congressional lawmakers will soon debateexpiring tax breaksand new promises from President-electDonald Trump. Agreeing on cuts and spending, however,could be a challenge. With a majority in the House of Representatives and Senate, Republican lawmakers can pass sweeping tax legislation through "reconcilia...
Enacted by former PresidentDonald Trumpin 2017, theTax Cuts and Jobs Act, or TCJA, made sweeping tax changes, including temporary provisions that will sunset after 2025 without action from Congress. The law also permanently reduced the top corporate tax rate to 21%. ...
That's because 2017's Tax Cuts and Jobs Act (TCJA) is set to expire at the end of 2025. Provisions of that law include lower individual income tax rates, a higher standard deduction, the $10,000 cap on the state and local tax deduction, the increased amount of assets that can be ...