New Tax Rules Have Been Set: Start Planning Now
Individual taxpayers faced significant tax planning uncertainty for the first six months of the year. Many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) were scheduled to expire at the end of this year. However, after the One Big Beautiful Bill Act (OBBBA) became law in July, the federal tax rules for individuals are generally set, at least for the next few years. Here's an overview of some key changes, followed by tips to help you optimize your tax results going forward.