President Trump signed into law major tax legislation on July 4, 2025. While the bill itself is almost a thousand pages long, below is a bite-size summary of what you need to know about key provisions:
Individual Income and...more
7/10/2025
/ Bonus Depreciation ,
Business Taxes ,
Estate Planning ,
Estate Tax ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
New Legislation ,
One Big Beautiful Bill Act ,
Opportunity Zones ,
Qualified Business Income ,
Qualified Small Business Stock ,
SALT ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Legislation ,
Tax Reform
On April 6, 2023, the Internal Revenue Service released its much-anticipated strategic operating plan. The plan outlines how the agency will use the additional $80 billion in funding from the Inflation Reduction Act. Of...more
Those of you who followed the drama around the oddly-named Inflation Reduction Act of 2022 will have seen the rise and fall of efforts to change tax laws regarding “carried interests.”...more
On August 7, 2022, the Senate passed the Inflation Reduction Act of 2022. The legislation passed the House on August 12, and was signed by President Biden on August 16. Among significant changes designed to fight climate...more