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The tax code is a complicated beast but understanding the major tax changes coming up can help you save thousands in taxes and maximize your tax planning for retirement. While some of these ...
“Some people could go to bed on December 31, 2025, not having thought about the value of their estate and wake up in 2026 and with millions of potential tax liability.” Fortunately, there are ...
The AMT exemption amount for tax year 2024 increased to $85,700 and starts to phase out at $609,350, up $4,400 and $31,200 compared with tax year 2023, respectively.
Trump also proposed several new key tax initiatives, such as removing the current $10,000 limit on the state and local tax (SALT) deduction, eliminating taxes on Social Security and tip income ...
Nearly seven years after the GOP used budget reconciliation to pass the Tax Cuts and Jobs Act (TCJA), the party is gearing up to use the same maneuver to renew key provisions set to expire in 2026.
For the tax year 2013, some taxpayers experienced the first year-to-year income-tax rate increase since 1993, although the rate increase came about not as a result of the 2012 Act, but as a result of the expiration of the Bush tax cuts. The new rates for income, capital gains, estates, and the alternative minimum tax would be made permanent. [3 ...
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