Be Prepared For Tax Policy To Swing Back
For business owners, professionals, and families with sizable savings and income, tax rules are about as favorable as they’ve been in decades, but the tax policy pendulum could swing back again.
Now is the right time to considering if a swing back in tax policy would be a sudden financial blow.
The Tax Cuts & Jobs Act, which went into effect in 2018, approximately doubled the lifetime tax exemption on gifts and is scheduled to reach higher through 2025.
At the end of 2025, the tax exemption falls off a cliff!
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