Legal expert shares insights on business and individual tax planning in a new political environment

The tax filing deadline for calendar year 2024 individual income tax returns has now passed, and uncertainty still lingers concerning whether Congress will extend tax provisions enacted during President Trump’s first term by the Tax Cuts and Jobs Act of 2017. Some of the more prominent provisions that are scheduled to expire or continue to phase-out on December 31, 2025, are: The qualified business income deduction for pass-through entities Lower marginal tax rates Increased standard individual…