{"id":278201,"date":"2025-07-20T20:18:14","date_gmt":"2025-07-20T20:18:14","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/278201\/"},"modified":"2025-07-20T20:18:14","modified_gmt":"2025-07-20T20:18:14","slug":"trumps-big-beautiful-bill-includes-these-key-tax-changes-for-2025-what-they-mean-for-you","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/278201\/","title":{"rendered":"Trump’s ‘big beautiful bill’ includes these key tax changes for 2025 \u2014 what they mean for you"},"content":{"rendered":"

It\u2019s been about two weeks since President Donald Trump<\/a>\u2019s \u201cbig beautiful bill\u201d became law, and financial advisors<\/a> and tax professionals are still digesting what the sweeping legislation means for clients.<\/p>\n

Meanwhile, several changes are effective for 2025<\/a>, which will impact tax returns<\/a> filed in 2026.<\/p>\n

While the Trump administration has been promoting \u201cworking family tax cuts<\/a>,\u201d the legislation\u2019s impact depends on your unique situation \u2014 and some updates are complex, experts say. <\/p>\n

\u201cThere are just so many moving pieces,\u201d said certified financial planner Jim Guarino, managing director at Baker Newman Noyes in Woburn, Massachusetts. He is also a certified public accountant.<\/p>\n

Currently, many advisors are running projections \u2014 often for multiple years \u2014 to see how the new provisions could impact taxes.<\/p>\n

Without income planning, you could reduce, or even eliminate, various tax benefits for which you are otherwise eligible, experts say.<\/p>\n

When it comes to tax strategy, \u201cyou never want to do anything in a silo,\u201d Guarino said. <\/p>\n

Here are some of the key changes from Trump\u2019s legislation to know for 2025, and how the updates could affect your taxes.<\/p>\n

Trump\u2019s 2017 tax cut extensions<\/p>\n

The Republicans\u2019 marquee law made permanent Trump\u2019s 2017 tax cuts<\/a> \u2014 including lower tax brackets<\/a> and higher standard deductions, among other provisions \u2014 which broadly reduced taxes for Americans.<\/p>\n

Without the extension, most filers could have seen higher taxes in 2026<\/a>, according to a 2024 report from the Tax Foundation. However, the new law enhances Trump\u2019s 2017 cuts, with a few tax breaks that start in 2025:<\/p>\n