In 2016, Congress passed the Tax Cuts and Jobs Act which reduced taxes to current levels. However, many provisions of the bill expire at the end of 2025 unless Congress votes to extend them. As we come to the end of the year, many money-savvy individuals will be doing end-of-year tax planning. As you work with your accountant, it may be wise to factor in the possible sunset of these tax cuts as you make decisions that could affect your taxes in the future. Click below for an article about specific tax cuts that are set to expire at the end of 2025.
At Wheeler financial, our job goes far beyond picking investments. We take great care in helping clients withdraw money in the most tax-efficient way. If your retirement is approaching and you’d like a plan to help you from a variety of different angles, reach out to me. Our firm has a passion for finding creative, personalized ideas that go beyond what you may expect in working with a financial advisor.