Benzinga
  • 2 months ago
Top financial advisors are preparing for a potential tax cliff in 2025 when the Tax Cuts and Jobs Act expires. The TCJA, signed into law by former President Donald Trump in 2017, introduced several temporary tax breaks for individuals, such as lower tax brackets, higher standard deductions, a larger child tax credit, and estate tax exemptions. Advisors are developing strategies to help clients mitigate the effects, focusing on estate planning and income acceleration ahead of possible tax hikes.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Top financial advisors are preparing for a potential tax cliff in 2025 when the Tax Cuts
00:08and Jobs Act expires.
00:10The TCGA, signed into law by former President Donald Trump in 2017, introduced several temporary
00:16tax breaks for individuals such as lower tax brackets, higher standard deductions, a larger
00:21child tax credit, and estate tax exemptions.
00:24Advisors are developing strategies to help clients mitigate the effects, focusing on
00:28estate planning and income acceleration ahead of possible tax hikes.
00:32For all things money, visit Benzinga.com.

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