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Tax legislation is undergoing significant changes that could reshape planning strategies for entrepreneurs, high-income earners, and real estate investors. These proposed changes would restore powerful tax benefits while creating new opportunities to legally reduce tax burdens through strategic planning and timing.

• 100% bonus depreciation likely returning until 2029, creating massive write-off potential for real estate investors and business owners
• QBI deduction potentially increasing from 20% to 23% and becoming permanent
• Qualified Opportunity Zones getting revitalized with potential 30% basis step-up for rural investments
• Standard deduction increasing by $1,000 for single filers and $2,000 for married couples
• SALT cap potentially rising from $10,000 to $40,000 for earnings under $500,000
• Social Security benefits potentially becoming tax-free, changing how we view FICA taxes
• Possible elimination of federal taxes on tips and overtime pay, though with likely restrictions
• Corporate tax rates potentially dropping to 20%, and to 15% for domestic manufacturers

For personalized tax planning guidance, visit prosperalcpa.com/apply or learn more through our free resources at taxfundingchecklist.com. Our new Prosperal Tax Navigator program makes professional tax planning more accessible - find details at prosperalcpa.com/tax-navigator.