The new framework is expected to increase tax burdens on wealthy institutions and could have long-term implications for how colleges and universities fund scholarships, research, and student services.

This article highlights four new tax changes that present planning opportunities for individuals: the Senior Deduction, Car Loan Interest Deduction, Trump Accounts for Children, and Payroll and Fringe Benefit Changes.

The Reconciliation Bill, which was signed into law on July 4, 2025, introduced many tax changes, among them is an increase to the State and Local Tax (SALT) deduction that is claimed on Schedule A of Form 1040.

The depreciation expense changes enacted through the 2025 Reconciliation Bill are intended to incentivize investment, accelerate cost recovery and increase cash flow by providing immediate tax relief for businesses investing in depreciable property. 

This guide outlines the key EV credits being phased out, what they offer, and the steps you should take to maximize your benefits before the deadlines.

The new tax legislation, signed on July 4, 2025, introduces several changes to the deductions for charitable contributions. These changes will take effect after December 31, 2025. With the new standard deduction, it is more important than ever to review your charitable giving with your financial advisor.