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Breaking Down the Latest Tax Code Changes and What They Really Mean (Ep. 43)
Tax headlines can sound simple, but the details often tell a different story.
What do recent tax law updates actually mean for your income, deductions, and long-term planning? And how should you adjust when the rules keep shifting?
In this episode, Jim Sumpter, CFP®, breaks down key changes from the recent tax bill and explains how they affect families, retirees, and business owners. He covers updates to SALT deductions, child tax credits, and charitable giving, while clarifying common misconceptions around “no tax on Social Security,” tips, and overtime.
Jim also outlines new rules for auto loan interest, dependent care, bonus depreciation, and expanded 529 plan uses, emphasizing why ongoing tax planning is essential as laws evolve.
Key takeaways:
Connect with Jim Sumpter:
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By Jim Sumpter
5
33 ratings
Tax headlines can sound simple, but the details often tell a different story.
What do recent tax law updates actually mean for your income, deductions, and long-term planning? And how should you adjust when the rules keep shifting?
In this episode, Jim Sumpter, CFP®, breaks down key changes from the recent tax bill and explains how they affect families, retirees, and business owners. He covers updates to SALT deductions, child tax credits, and charitable giving, while clarifying common misconceptions around “no tax on Social Security,” tips, and overtime.
Jim also outlines new rules for auto loan interest, dependent care, bonus depreciation, and expanded 529 plan uses, emphasizing why ongoing tax planning is essential as laws evolve.
Key takeaways:
Connect with Jim Sumpter: