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Big tax changes are on the horizon for 2025! Are you prepared? In this video, I'll break down the key tax changes you need to know about. 0:00 - Overview 0:28 - Tax Cuts and Jobs Act of 2017 1:05 - Federal tax rates 1:42 - Standard deduction 2:40 - State and local income tax (SALT) deduction 3:45 - Child tax credit 4:34 - Estate tax exemptions 5:58 - Qualified business income deduction (QBI) 6:34 - Bonus depreciation 7:19 - Final thoughts ---- Ask Mat: https://matsorensen.com/ask-mat/ ---- Found this video helpful? Click the Like button & share with others. Subscribe to my channel and click the 🔔 icon for notifications when I post a new video. Don't forget to leave your questions in the comment section below! ---- Websites: https://directedira.com/appointment https://kkoslawyers.com https://mainstreetbusiness.com https://matsorensen.com ---- My Social Media: Instagram: / matsorensen Tik Tok: / sorensenmat Linked In: / matsorensen Facebook: / mat.sorensen.1 ---- 🚀 Disclaimer: This podcast is for educational purposes only and does not constitute financial advice. Consult with a qualified professional before making any investment decisions.