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Highlights of the 2025 tax law changes.   

1.

Most tax changes from 2017 are made permanent

2.

Property tax, state tax and local tax deduction cap has been raised  to $40,000. 

3.

Termination of the clean vehicle and Energy Efficient Credits.

4.

Misc. deductions subject to  the 2% AGI limit is no longer deductible is made permanent. 

5.

The child tax credit has been increased.

6.

The Standard deduction has been increased. Until 2028 if you are 65 or older your receive an additional $ 6000 deduction.

7.

Possible $ 25000 deduction for qualified overtime and Tip income until 2028.

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