As the dust settles on the recent Republican victory in the U.S. presidential election, the tax landscape is poised for significant changes. With President-elect Donald Trump set to return to the White House, both individuals and businesses are bracing for a potential overhaul in tax policies. The original article from Thomson Reuters provides a comprehensive look into these anticipated changes.
On the campaign trail, Trump proposed a broad range of tax policy ideas that could reshape the financial strategies of many. As we look ahead, some of the key adjustments for 2025 have already been outlined by the IRS, offering a glimpse into what taxpayers can expect.
IRS Adjustments for 2025
Each year, the IRS adjusts numerous tax provisions for inflation to prevent “bracket creep,” where inflation pushes taxpayers into higher income tax brackets without an actual increase in real income. For 2025, notable changes include:
Standard Deductions: For married couples filing jointly, the deduction increases to $30,000. Heads of households will see a rise to $22,500, while single taxpayers and married individuals filing separately will have a $15,000 deduction.
Alternative Minimum Tax (AMT) Exemption: The exemption for unmarried individuals increases to $88,100, with married couples filing jointly enjoying an exemption of $137,000.
Earned Income Tax Credit: For those with three or more qualifying children, the maximum amount rises to $8,046.
Estate Tax Credits: The federal estate-tax exclusion amount will increase to $13.99 million.
401(k) and Roth Changes
Significant updates to retirement-related items have been announced. The 401(k) contribution limit will increase to $23,500, and the catch-up contribution limit for those aged 60 to 63 will be $11,250. Additionally, higher income thresholds for Roth IRA contributions have been set, with singles and heads of household seeing a phase-out range between $150,000 and $165,000.
Future of the TCJA Under Trump
With a portion of the Tax Cuts and Jobs Act (TCJA) set to expire at the end of 2025, Trump’s administration is likely to push for extensions and modifications. Key proposals include extending the Qualified Business Income deduction, reinstating 100% bonus depreciation, and potentially eliminating the $10,000 cap on state and local tax deductions.
As the political landscape shifts, tax professionals are urged to stay informed and proactive. The original article emphasizes the importance of strategic tax planning and offers guidance on navigating these changes.
With so much uncertainty, the role of financial advisors and tax professionals becomes crucial in helping clients understand and adapt to the evolving tax environment. As noted by Shaun Hunley, Executive Editor at Thomson Reuters, “Modeling different scenarios and proactively advising clients will be key to preparing for whatever outcome unfolds.“
Stay Informed
For those looking to remain updated, subscribing to the Checkpoint newsstand can provide timely insights directly to your inbox.
More Articles
Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!
Long Island’s commercial real estate market just smashed every previous record, hitting an unprecedented $4.1 billion in 2025 deal volume—up a massive 71.5 percent from the year before. A surge in specialty-use properties like assisted living centers and self-storage facilities fueled the boom, alongside hundreds of new transactions across Nassau and Suffolk counties. With investor confidence rebounding, interest rates easing, and new buyer profiles entering the scene, the region has become one of the hottest real estate markets to watch.
Federal cuts to housing oversight in 2026 are creating a nationwide regulatory scramble, with states—especially California—rapidly stepping in to fill the gap. As the CFPB reduces its enforcement role, lawmakers and agencies across the country are crafting their own rules on mortgage compliance, consumer protection, affordability, and even AI‑driven underwriting. For real estate, mortgage, and finance professionals, the message is clear: state regulations are becoming just as influential as federal policy, making ongoing education and compliance awareness more critical than ever.
The insurance industry poured an eye‑opening $172 million into federal lobbying in 2025, making it the fourth‑largest lobbying sector in the country. Medical insurers led the spending, but property and casualty giants weren’t far behind, with APCIA, Nationwide, Liberty Mutual, and Allstate all landing among the top contributors. And this is only federal spending—state‑level influence, where regulations are truly shaped, remains vastly underreported. For professionals in insurance, real estate, and finance, these lobbying efforts play a powerful role in shaping regulations, costs, and the competitive landscape.
Florida’s home insurance market saw a 3.35% non-renewal rate last year—a small percentage that translated into hundreds of thousands of homeowners suddenly losing coverage. Driven by repeated storm damage, soaring construction costs, heavy litigation, and insurers pulling back from high-risk areas, the state’s insurance landscape is rapidly shifting. Homeowners now face higher premiums, fewer options, and tougher underwriting, while professionals in real estate, mortgage, and insurance must stay informed to guide clients through a tightening market.
Florida’s recent tort reforms are doing far more than reshaping the state’s legal system—they’re driving down property and casualty insurance costs by an average of 14.5% and injecting over $4.2 billion into the state’s economy each year. With nearly 30,000 jobs supported and state and local governments seeing hundreds of millions in new tax revenue, the changes are already transforming Florida’s insurance market. Lawsuits have dropped, insurers are returning, and businesses and homeowners alike are reaping the benefits of a more balanced, competitive, and financially resilient environment.
Major commercial real estate firms are reporting strong revenue and renewed market activity, signaling a rebound in dealmaking and office demand. Yet even with record earnings, CEOs from CBRE, Colliers, and Marcus & Millichap spent much of their earnings calls addressing a growing concern: whether artificial intelligence could threaten traditional brokerage and valuation roles. While leaders insist that complex transactions still rely on human relationships and negotiation, AI‑related market jitters briefly pushed some CRE stocks down before they recovered.
