Wednesday, July 02, 2025
New Tax Laws
1. Key Individual & Family Tax ProvisionsPermanent 2017 Tax Cuts:The individual income tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA) were set to expire after Dec 31, 2025. This bill makes them permanent, including: Lowered top marginal rates (keeps 37% top bracket instead of reverting to ~39.6%)Higher standard deductionDoubled estate tax exemption stays ($12.92M per person indexed to inflation)100% bonus depreciation, which was part of the original 2017 Tax Cuts and Jobs Act (TCJA), had already
