• Ep 132: What Tax Cuts Are Set to Expire?

  • 2025/01/28
  • 再生時間: 19 分
  • ポッドキャスト

Ep 132: What Tax Cuts Are Set to Expire?

  • サマリー

  • In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the implications of the Tax Cuts and Jobs Act, which is set to expire at the end of 2025. He emphasizes the uncertainty surrounding potential tax changes and highlights key provisions that could impact retirement planning, including changes to tax rates, standard deductions, and various tax credits. The conversation aims to prepare listeners for the upcoming tax landscape and its effects on retirement strategies.

    Takeaways

    • The Tax Cuts and Jobs Act is set to expire at the end of 2025.
    • There is uncertainty about what changes will be made to tax laws.
    • Tax rates are expected to increase if the Act expires.
    • The standard deduction will be significantly lower, affecting many taxpayers.
    • The cap on state and local tax deductions may be removed.
    • Business income tax deductions will no longer be available.
    • Personal exemptions will return if the Act expires.
    • The Child Tax Credit will be reduced significantly.
    • Deductions for asset management and tax preparation fees will be reinstated.
    • The estate tax exemption will be halved, impacting wealth transfer.

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あらすじ・解説

In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the implications of the Tax Cuts and Jobs Act, which is set to expire at the end of 2025. He emphasizes the uncertainty surrounding potential tax changes and highlights key provisions that could impact retirement planning, including changes to tax rates, standard deductions, and various tax credits. The conversation aims to prepare listeners for the upcoming tax landscape and its effects on retirement strategies.

Takeaways

  • The Tax Cuts and Jobs Act is set to expire at the end of 2025.
  • There is uncertainty about what changes will be made to tax laws.
  • Tax rates are expected to increase if the Act expires.
  • The standard deduction will be significantly lower, affecting many taxpayers.
  • The cap on state and local tax deductions may be removed.
  • Business income tax deductions will no longer be available.
  • Personal exemptions will return if the Act expires.
  • The Child Tax Credit will be reduced significantly.
  • Deductions for asset management and tax preparation fees will be reinstated.
  • The estate tax exemption will be halved, impacting wealth transfer.

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