And Still Waiting ...

Back when President Trump was elected for his second term, in this space I cautioned against making any tax moves too quickly since even if we knew he intended to change policy, that did not mean he was going to do so immediately.

And then we made it through last tax season with nothing changing – just as expected.

Now, though, we are not quite halfway through 2025 and Republicans are working to get a “big, beautiful bill” through Congress that will come with tax implications. There are concerns about the bill from within the Republican party, though, that is keeping it from having a smooth road to becoming law.

So again, a little patience and caution make up the best strategy.

If I were a betting man, I would wager that the Republicans are going to get something passed at some point in this realm. It’s not as if 17 different factions are having issues with 20 different parts of the bill.  There are pieces that everyone is going to be able to agree on and getting those through in a bill will look much better than not getting a bill passed at all.

Just what this will include, though, is impossible to tell at the moment.

This doesn’t mean one doesn’t need to pay attention, being aware of what is happening and what may happen in the future has value, and this can prepare you to make the moves that are most beneficial when it happens. Is there much to be gained by making guesses ahead of time, though?

Not that there are never positive answers to that question, of course, they are just matters for people who work in different areas of your finances than us. When it comes to planning for your taxes for next year, though, things may be getting antsy but the time for making big moves still has not arrived. 

Warmly,

Josh Bousquet
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