10/21/2025
Now that it's October and we’ve had time to digest the 887-page law passed this July, here’s a snapshot of the provisions that may impact you:
👉 TCJA provisions now permanent, including tax brackets, standard deductions, and the 20% pass-through deduction
👉 2025 standard deduction increases—$15,750 (single), $23,625 (head of household), $31,500 (married filing jointly)
👉 Senior bonus deduction—up to $6,000 more for taxpayers 65+ (through 2028)
👉 SALT cap raised—up to $40,000 (2025–29) for incomes under $500K
👉 Child Tax Credit boosted—$2,200 per child, with up to $1,700 refundable
👉 Estate & gift exemptions increased—$15M individual / $30M married (effective 2026)
👉 Small business incentives—permanent 20% QBI deduction, Section 179 expensing raised to $2.5M, and 100% bonus depreciation
Several provisions are temporary (expiring 2028–29), so proactive, coordinated strategies remain essential.
If you have questions, we’re here to help.