As the new Trump administration and a new Congress get underway, taxpayers and investors find themselves in a landscape marked by uncertainty. The potential expiration of key provisions from the Tax Cuts and Jobs Act (TCJA) at the end of 2025 adds another layer of complexity to financial planning. While the new administration is more likely to extend at least some of the TCJA provisions, until we see a final bill, it’s important to understand the upcoming changes and how they might impact you.
The TCJA was enacted in 2017 and introduced significant changes to the U.S. tax code, affecting both individual and corporate tax structures. While some provisions were made permanent, many are set to expire at the end of 2025. A year from now, many taxpayers may be surprised by a larger tax bill. But there are proactive strategies that can help mitigate some of the impacts.
