| 2024: | standard deduction | annual tax adjustments |
| 2025: | standard deduction | annual tax adjustments |
No significant federal tax law changes other than the annual tax adjustments, etc.
Additional catch-up for retirement contributions for ages 60-63. See 2025 adjustments.
Automatic enrollment into employer 401k/403b plans, but employees can opt out.
The Tax Cut and Jobs Act (TCJA) is in effect 2018 through 2025, which eliminated personal exemptions, doubled the standard deduction, eliminated employee business expenses, capped the state/real estate tax deductions, lowered tax rates, etc. Will the tax laws change back, or will this tax bill be extended or amended?