What precisely has modified with the brand new tax invoice known as the One Massive Stunning Invoice? The invoice handed into legislation efficient for tax 12 months 2025 incorporates vital tax updates: It completely extends the Tax Cuts and Jobs Act (TCJA), will increase the SALT deduction cap, makes cuts to power credit, and adjustments how suggestions and extra time are taxed for some staff.
Our infographic supplies a visible snapshot of those adjustments to get forward of your tax submitting and monetary plans.
Wish to see how these adjustments influence your taxes? Take the subsequent step with our Tax Reform Calculator to estimate your potential tax financial savings and get a personalised understanding of the brand new tax legislation.
TurboTax is right here that will help you navigate the brand new tax legislation adjustments and maximize your refund. We’ve acquired you lined, whether or not you wish to do your taxes your self or have a TurboTax Reside knowledgeable do them for you.
