Trump’s recent presidential re-election could produce significant tax benefits for businesses and individuals, some which may include:
Making individual TCJA expirations permanent except for the cap on SALT (effective January 1, 2026)
Lower Rates and brackets
Increased Standard deduction
Increased Personal exemption
Child tax credit and other dependent tax credit benefits
Elimination of the $10k deduction limitation on state and local taxes
AMT changes
Section 199A pass-through deduction and noncorporate loss limitation increases
Making TCJA estate tax changes permanent (effective January 1, 2026)
Restoring TCJA business tax provisions (effective January 1, 2026)
100 percent bonus depreciation
R […]