Planning Newsletter - October 2025
Generally, changes to individual taxes are positive but with limitations for higher income taxpayers in the highest brackets. Proactive tax planning will be crucial in many cases.
The estate tax exemption amount was increased tom $15 million per person, indexed to inflation starting in 2026. Wealth transfer and gifting strategies may need to be reviewed.
OBBBA expands provisions from the 2017 Tax Cuts and Jobs Act (TCJA) to favor small business owners. Business owners should consider ways to take advantage of this.