Expiration of the TCJA: Implications for Personal and Business Finances

Tax season is now mostly behind us, although some US cities have been granted extensions, mostly due to natural disasters such as severe storms, flooding, and wildfires. So now what? It is time to start thinking proactively and creatively about what we can do to put ourselves into an even better position next year. The Tax Cuts and Jobs Act (TCJA) of 2017 brought significant tax reductions and benefits, impacting both individuals and businesses. However, many of its provisions are set to expire in 2026.