The Tax Cuts and Jobs Act (TCJA) was passed in 2017, and unless Congress acts, it will expire at the end of 2025. The unpredictability of the upcoming presidential election, coupled with the looming expiration of several individual tax provisions, poses a unique challenge for taxpayers. There will also likely be little time to adjust tax planning once a decision or bill is signed, considering TCJA was not signed into law until December 22, 2017, just 10 days before most of its provisions were set to take effect.
For now, we will focus our attention on what is scheduled to happen with tax laws as of January 2026. Our goal is that the items listed will equip you to have thoughtful conversations in the months to come with your family and advisory team. We will continue to closely monitor proposed regulations and be prepared to provide recommendations and advice on whatever the changes may be and how you will be impacted.
Note: The following is not meant to address all changes. Instead, we have focused on strategic areas where we feel there is significant room for planning and discussion opportunities.
FOR MORE INFORMATION, PLEASE REACH OUT TO:
Chris Sutherland, CPA
Wealth Advisor, Principal
csutherland@trustcompanyofthesouth.com
John Frechette, CPA, CFP®
Wealth Analyst
jfrechette@trustcompanyofthesouth.com
DISCLOSURES
This communication is for informational purposes only and should not be used for any other purpose, as it does not constitute a recommendation or solicitation of the purchase or sale of any security or of any investment services. Some information referenced in this memo is generated by independent, third parties that are believed but not guaranteed to be reliable. Opinions expressed herein are subject to change without notice. These materials are not intended to be tax or legal advice, and readers are encouraged to consult with their own legal, tax, and investment advisors before implementing any financial strategy.
