In this week’s episode of the JMF Advisors Show, JamisonMoneyFarmer PC CPAs Rachel Taylor and Kristi Moore focus on the sunsetting tax provisions of the Tax Cuts and Jobs Act (#TCJA) of 2017 which are slated to go away at the end of the 2025 tax year.

We cover #business #tax topics like bonus depreciation, QBI, and the corporate rate which will not change with the TCJA sunset. On the personal or individual tax side, we cover the child tax credit, income tax brackets, the new standard deduction and the return of the personal exemption, and many of the itemized deduction changes like the SALT deduction and the mortgage interest changes. The TCJA effectively doubled the estate tax exclusion in 2017. For 2024, the amount is $13.61 million per individual. In 2026, the exclusion will be cut roughly in half.

This is a great planning opportunity!