Federal Tax Change Legislation 2025

[evilanne]

Interesting Article: What's inside the new tax act?​

https://www.fidelity.com/learning-center/personal-finance/one-big-beautiful-bill
What I found interesting:
+SALT tax deduction change increased to $40K for 4 years 2026-2029 tax years (Note: some source cite 2025-2029)
+With Standard deduction you can deduct up to $1000/2000 charitable contribution per year without itemizing
-If you itemize, charitable contributions are reduced by .5% of AGI

2025-2028 Temporary 4 year only
No taxes on tips & overtime
Senior Tax Breaks
Deductible Car Loan Interest up to $10K

Plus more

 

[evilanne]

From IRA to OBBBA: A New Era for Clean Energy Tax Credits​

https://www.arnoldporter.com/en/per...-obbba-a-new-era-for-clean-energy-tax-credits
Dates move up in many areas and Energy Efficient Home Improvement Credit ends this year.