Congress has just passed The One Big Beautiful Bill, which changes a variety of key tax items for 2025. Some of these changes take effect immediately and may require you to meet with your financial planner. You may be hearing about the new deductions and wondering, “Does this affect me?” Download the attached document with updated 2025 key financial data. It reflects all the new changes from the July tax law, including:
- A new standard deduction of up to $31,500 for joint filers
- A powerful bonus deduction of $6,000 per person for individuals age 65+
- An increased Child Tax Credit of $2,200, now indexed for inflation
