How will your taxes and estate strategy be impacted when the Tax Cuts and Jobs Act (TCJA) sunsets at the end of this year? 🧐
If you don’t know, you may want to start familiarizing yourself with the potential changes to understand how they may affect you.
There’s a mixed bag of changes on the horizon, some perhaps unfavorable but others more positive! 👏👏
You can deduct mortgage interest on up to $750,000 of qualified debt. In 2025, the rule is scheduled to change, and you may be able to deduct mortgage interest on up to $1,000,000 of qualified debt AND an additional $100,000 of eligible home equity interest debt.
Remember, tax rules can change without notice, and there is no guarantee that the treatment of certain rules will remain the same. This post is not intended as real-life advice, so you may want to review any specific questions about the TCJA with a tax, legal, or accounting professional. FMG created this content to provide insights into a topic and is not affiliated with a broker-dealer or investment advisory firm.
If you’d like to learn more about the potential implications for your family, connect with us anytime.