Understanding Recent Tax Changes
Recent Tax Law Changes Overview
Get a clear overview of the most recent changes in federal tax laws with our team at Martensen Tax.
Important Updates from the New Federal Tax Bill
The American Prosperity and Growth Act has made significant changes to tax laws that will impact individuals and businesses.
Updated Individual Tax Brackets
Individual tax brackets have been adjusted, with some being lowered and others being raised.
Expanded Child/Dependent Credits
The new tax bill has expanded child and dependent credits, allowing taxpayers to claim a larger credit for each qualifying dependent.
Breakdown of the Changes to the Individual Tax Brackets Under the New Federal Tax Bill
Under the American Prosperity and Growth Act, there have been significant changes to the individual tax brackets that taxpayers need to be aware of. Here is a breakdown of the updated individual tax brackets under the new federal tax bill.
Understanding Expanded Child and Dependent Credits
As part of the 2025 updates, the American Prosperity and Growth Act has expanded child and dependent tax credits for both individuals and businesses.
Who Qualifies for These Credits?
Individuals or families with children or other dependents may be eligible for these expanded credits.
How Martensen Tax Can Help
At Martensen Tax, we stay up to date on all recent tax law changes, including expanded child and dependent credits.
Changes to Qualified Business Income Deduction
Under the American Prosperity and Growth Act, there have been significant changes to the qualified business income deduction for small businesses.
New Opportunities for Tax Savings for Small Business Owners
With the expanded qualified business income deduction, small business owners may now be eligible for even more tax savings.
Personalized Guidance for Each Client
At Martensen Tax, we understand the importance of individualized service.
New Capital Gains Rules Summary
The new federal tax bill, titled the “American Prosperity and Growth Act”, contains several important changes that individuals and businesses need to be aware of.
Expanded Child/Dependent Credits
Families will see an increase in the child tax credit and dependent care credit, providing much needed relief for working parents.
Increased Retirement Contribution Limits
Under the new law, individuals can contribute more towards their retirement savings tax-free, allowing for greater financial security in the future.
New Contribution Limits for Retirement Accounts
Discover how the new federal tax bill will affect your retirement savings.
Higher Limits, Bigger Savings
Take advantage of increased contribution limits for your retirement accounts.
Maximize Your Savings Potential
Consult with Martensen Tax to create a personalized plan for your financial goals.