New Tax Law

The One Big Beautiful Bill Act was signed into law on July 4th. 

For our clients, if you would like to know how this will affect your taxes for this year, we’ve got the information ready to go for you right now. 

Please contact the office and we can run a comparison report for you. 

The current tax brackets put into place with the Tax Cuts and Jobs Act of 2017 are now permanent and will not phase out in 2026. 

The State and Local Tax Deductions (SALT) has been expanded.

There is an increased standard deduction for seniors as well as an auto interest deduction. 

All of the above are phased out for higher incomes.