The state of the economy remains a focus for Americans, especially with the U.S. presidential election national conventions underway this summer. More than $3.4 trillion in individual tax and estate tax cuts are set to expire in 2025 with the end of several provisions from the Tax Cuts and Jobs Act (TCJA) of 2017.
As Americans anticipate what significant tax changes could mean for their financial well-being, now is the time for Americans to prepare their finances for the second half of the year. When it comes to the expiration of the TCJA, developing a plan now could provide significant tax savings for you and your heirs in the years ahead. Northwest Indiana financial advisor Greg Hammer joins Lakeshore Public Media host Dee Dotson to offer thoughts on what changes to these tax and estate planning provisions could mean for Americans.
