What tax planning strategies individuals adopt in 2025 will depend almost entirely on the changes that Congress enacts in 2025. These changes will be largely determined by what changes the Trump Administration proposes that get through Congress at some point in 2025. This program will cover new tax changes enacted in 2025 that impact individuals and provide individuals with significant tax reduction strategies. We do not yet know what changes will take place in the tax law for 2025, but we will be alert to any changes that are enacted that provide individuals with new tax planning strategies. We will cover new tax changes impacting individuals in this program as well as the planning strategies that become available during 2025.
Learning Objectives
- Advise individual clients on tax changes and opportunities in 2025 and after
Major Topics
- Individual changes brought about with the potential TJCA extensions
- Proposed new tax changes such as elimination of income tax on tips, Social Security payments, and overtime
- Possible new limit on the SALT deduction
- Will there be a deduction for personal car loan interest?
- Repealing some or all of the residential- and auto-related green energy credits
- Business loss limitation provisions impacting individuals
- Broker basis reporting of digital assets
- Other individual income tax changes for 2025 and later
