Uncertainty in Retirement Planning
This is a news story, published by Investor's Business Daily, that relates primarily to TCJA news.
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current tax provisionsInvestor's Business Daily
•Business
Business & Economics
Here's what you need to know to stay ahead in retirement planning and finances for 2025
78% Informative
More than 20 provisions of the Tax Cuts and Jobs Act of 2017 are set to expire at the end of 2025 .
Now that Republicans control the House of Representatives , the Senate and the White House , experts believe many of the provisions will either be extended or made permanent.
The TCJA reduced the top income tax rate for individuals from 39.6% to 37% through 2025 .
After 2025 , the reduced rates revert to the pre-TCJA levels.
The standard deduction, which increased significantly with the TCJA , will decline in 2026 to $8,300 and $ 16,600 .
The state and local tax ( SALT ) deduction capped at $ 10,000 per tax return from 2018 to 2025 .
Starting in 2025 , some employees can take advantage of higher catch-up contributions in 401(k) and 403(b) plans.
The SECURE 2.0 Act will go into effect in 2025 .
The SECURE 2.0 Act introduced a significant change to catch-up contributions for high-income earners.
Starting in 2024 , employers can treat student loan payments as retirement contributions for the purpose of providing an employer match.
VR Score
85
Informative language
92
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56
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English
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