The 2017 Tax Cuts and Jobs Act provided many beneficial financial benefits to taxpayers. However, many of those items expire in 2025. So, don’t be shocked.

The first item is our tax rates. I call it a a politician’s dream . . . . Tax rates are going up without anyone voting for it. Yes, our current rates expire on 12/31/25. Then on 1/1/26 they return to 2017 rates (adjusted for inflation) Our current rates are near historic lows and the nations debt is increasing rapidly, so this is an opportunity to plan, we are pretty confident where tax rates are going, up. If you plan on earning income for several years now is the time to consider Roth contribution or a Roth Conversion. The Roth allows your contributions or conversions to grow tax free. Compared to a traditional IRA where everything is withdrawn is taxed at ordinary income rates (which are going to increase)