{"id":22977,"date":"2024-12-27T23:01:01","date_gmt":"2024-12-27T23:01:01","guid":{"rendered":"http:\/\/www.thinkadvisor.com\/2024\/12\/27\/inflation-spells-significant-2025-tax-adjustments\/"},"modified":"2024-12-27T23:01:01","modified_gmt":"2024-12-27T23:01:01","slug":"inflation-spells-significant-2025-tax-adjustments","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/12\/27\/inflation-spells-significant-2025-tax-adjustments\/","title":{"rendered":"Inflation Spells Significant 2025 Tax Adjustments"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/910045529\/0\/thinkadvisor.jpg\"><img decoding=\"async\" src=\"https:\/\/feeds.feedblitz.com\/-\/910045529\/0\/thinkadvisor.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2021\/05\/Tax_Money_Coins_Shutter_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><!--&gt; \n\n<div data-v-dede5a56>\n\n<p>The marginal rate thresholds are also increasing substantially, with the top rate of 37% applying for individuals with incomes above $626,350 (or $751,600 for married couples filing jointly) and the bottom rate of 10% applying for individual incomes of $11,925 or less (or $23,850 or less for married couples filing jointly).<\/p>\n\n<\/div>\n\n--> <!--&gt; \n\n<div data-v-dede5a56>\n\n<p>Tax year 2025 will also bring changes to Alternative Minimum Tax exemption amounts. Specifically, the exemption amount for individual taxpayers in 2025 is increasing to $88,100 (or $68,650 for married couples filing separately). This exemption will begin to phase out at $626,350. For married couples who are filing jointly, the AMT exemption increases to $137,000 and will begin phasing out at $1,252,700.<\/p>\n\n<\/div>\n\n--> <!--&gt; \n\n<div data-v-dede5a56>\n\n<p>Notably, the Colcom Group analysis points out, not all provisions in the tax code change each year \u2014 at least under <a href=\"https:\/\/www.thinkadvisor.com\/2024\/11\/06\/what-trumps-win-means-for-estate-tax-planning\/\">the current tax paradigm<\/a>. This includes personal exemptions, itemized deduction limits and lifetime learning credits.<\/p>\n\n<\/div>\n\n --> <\/p>\n<div data-v-dede5a56>\n<p>The bottom line from a planning perspective?<\/p>\n<\/div>\n<p><!--&gt; --> <\/p>\n<div data-v-dede5a56>\n<p>\u201cTalk to a tax professional,\u201d the firm&#8217;s analysis concludes. \u201cMany taxpayers will be affected by these changes in 2025 and beyond, so it&#8217;s important to be aware of these adjustments in order to plan ahead.\u201d<\/p>\n<\/div>\n<p><!--&gt; --> <\/p>\n<div data-v-dede5a56>\n<p><i>Credit: Shutterstock<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The bottom line from a planning perspective? \u201cTalk to a tax professional,\u201d the firm&#8217;s analysis concludes. \u201cMany taxpayers will be affected by these changes in 2025 and beyond, so it&#8217;s important to be aware&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/12\/inflation-spells-significant-2025-tax-adjustments.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22977"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22977"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22978"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}